Quote of the day
"This was used as a personal piggy bank. People have blinders on."
Bill Brandt, CEO of Chicago-based Development Specialists Inc, who was hired by the state of Ohio to liquidate the state Bureau of Workers' Compensation's scandal-ridden rare-coin investment
Buckeye State to Recoup $54.9 Million from Rare Coins
After more than three years of liquidation, the Ohio Bureau of Workers’ Compensation is set to recoup more than the $50 million it gave former coin dealer Tom Noe to manage a rare-coin investment venture. With the bureau ultimately expecting to get back more than what it invested with Noe, some are suggesting that too much was made of the Noe scandal, when the bureau also lost $216 million in a risky hedge fund.
Go to the full story by Steve Eder, Toledo Blade
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Silver State Court Rules in Favor of Suicide Victims’ Families
In a precedent-setting case, the Nevada Supreme Court rules that workers compensation benefits can go to families of people who kill themselves if an industrial accident broke down their “rational mental process” and left them suicidal.
Go to the full story by Cy Ryan, Las Vegas Sun
Go to the full story by AP via Las Vegas Sun
Massachusetts Man Charged with Workers’ Comp Fraud
Authorities charge a Lawrence, Mass., with fraudulently collecting more than $14,000 in unemployment and workers’ compensation benefits. By Jim Patten, Eagle-Tribune (North Andover, Mass.)
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AmerisourceBergen Reports 3Q Loss
AmerisourceBergen Corp., the third-largest U.S. drug distributor, reports a loss for the third quarter compared to a profit in the year-ago quarter, after agreeing to sell its PMSI workers’ compensation business.
Go to the full story in MarketWatch
Go to the full story by Justin Blum, Bloomberg
Go to the full story in RTT News
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St. Louis-Area Couple Faces Fraud Charges
A grand jury indicts a Glen Carbon, Ill., couple for allegedly hiding information on a pending workers’ compensation claim from the U.S. Bankruptcy Court. Edwardsville Journal
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Australia: Injuries Drop While Cancer and Depression Rise
Workers are being injured less and fewer are dying on the job, but new figures show illnesses such as cancer and depression are on the rise, according to the Compendium of Workers’ Compensation Statistics Australia 2005-06. Costs are rising too. By Amanda Horswill, News.com.au [with photo] Go to the Full Story…
Canada Co-Op Brothel Would Provide Workers’ Comp
Two Victoria women are one step closer to opening a co-operative brothel that they say would offer employees typical modern workplace benefits, including wages, medical leave, vacation pay and workers’ compensation. The profits of the brothel would help fund programs for addicted and impoverished prostitutes. By Louise Dickinson, National Post
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New York Law Creates Fund for Independent Livery Drivers
New York Gov. David A. Paterson signs a law that is intended to aid drivers in New York City, and in Westchester and Nassau counties, by defining which drivers are employees and which are independent contractors. The law also will create a fund, beginning Jan. 1, 2009, that establishes full workers’ compensation coverage for independent-contractor drivers who suffer serious injuries on the job. By AP via Newsday
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Cornhusker State Plant Uses Innovative Wellness Program
Lincoln Industries in Lincoln, Neb., looks like a typical blue-collar plant: workers cutting, bending, plating and polishing steel for products such as motorcycle tailpipes and truck exhausts amid the din of machinery. But its wellness culture sets it apart. By David S. Martin, CNN [with photo] Go to the Full Story…