Laidback Al
Well-known member
Health Insurers' Fast Food Holdings Raise Flag
April 15, 2010
Harvard Researchers Say Private Insurers Are Putting Profits above Public Health Concerns
The investments of large insurers of health, disability and long term care in fast food chains like McDonald's and Pizza Hut have raised the interest of a study in the American Journal of Public Health, reports CBS Radio News' John Hartge.
The Harvard Medical School's Dr. Wesley Boyd, an author of the study, finds it ironic that these firms would invest nearly $2 billion in companies that sell food often linked to obesity and cardiovascular disease.
"The insurance industry, so far as it seeks to make a profit, it does so in an amoral way," Boyd said.
. . .
According to the study, Northwestern Mutual owns $422.2 million in fast-food stock, with $318.1 million invested in McDonald's. Massachusetts Mutual owns $366.5 million of fast-food stock, including $267.2 in McDonald's.
. . .
New Jersey-based Prudential Financial Inc. sells life insurance and long-term disability coverage. With total fast-food holdings of $355.5 million, Prudential Financial owns $197.2 of stock in McDonald's and also has significant stakes in Burger King, Jack-in-the-Box and Yum! Brands.
. . .
"There's a ton of irony in it," said Boyd, a psychiatry professor. "In order to generate profits, they will invest in any area they need to ? to make money, even if what they invest in, in this case fast food, is an industry that is known to cause people to get sick and to die early."
http://www.cbsnews.com/stories/2010/04/15/health/main6400285.shtml"]http://www.cbsnews
credits rum jal
April 15, 2010
Harvard Researchers Say Private Insurers Are Putting Profits above Public Health Concerns
The investments of large insurers of health, disability and long term care in fast food chains like McDonald's and Pizza Hut have raised the interest of a study in the American Journal of Public Health, reports CBS Radio News' John Hartge.
The Harvard Medical School's Dr. Wesley Boyd, an author of the study, finds it ironic that these firms would invest nearly $2 billion in companies that sell food often linked to obesity and cardiovascular disease.
"The insurance industry, so far as it seeks to make a profit, it does so in an amoral way," Boyd said.
. . .
According to the study, Northwestern Mutual owns $422.2 million in fast-food stock, with $318.1 million invested in McDonald's. Massachusetts Mutual owns $366.5 million of fast-food stock, including $267.2 in McDonald's.
. . .
New Jersey-based Prudential Financial Inc. sells life insurance and long-term disability coverage. With total fast-food holdings of $355.5 million, Prudential Financial owns $197.2 of stock in McDonald's and also has significant stakes in Burger King, Jack-in-the-Box and Yum! Brands.
. . .
"There's a ton of irony in it," said Boyd, a psychiatry professor. "In order to generate profits, they will invest in any area they need to ? to make money, even if what they invest in, in this case fast food, is an industry that is known to cause people to get sick and to die early."
http://www.cbsnews.com/stories/2010/04/15/health/main6400285.shtml"]http://www.cbsnews
credits rum jal