January 15, 2008

Quotable

NCEO founder and senior staff member

U.S. District Court Judge James Rosenbaum has indicated he might want to review the settlement between former UnitedHealth CEO William McGuire and the SEC and a special UnitedHealth litigation committee. McGuire agreed to give back about $420 million in options, plus another $200 million he gave up earlier. Still, that left him with hundreds of millions more. In his opinion, Rosenbaum stated that "Words such as 'huge,' 'fantastic,' 'astounding,' 'staggering,' or 'astronomical,' do not describe $1 billion dollars. Such a sum can only be thought of as 'transcendent,' or in terms of the gross national product of smaller members of the United Nations."