Remember how much Blue Dog Jim Matheson loves UnitedHealth?
Impressing fiscally conservative Democrats like Matheson, a leader of the House of Representatives' Blue Dog Coalition, is at the heart of UnitedHealth's strategy. It boils down to ensuring that whatever overhaul Congress passes this year will help rather than hurt huge insurance companies....
Matheson, whose Blue Dogs command 52 votes in the House, can't offer enough praise for UnitedHealth, the largest company of its kind. "The tried and true message of their advocacy," he says, "is making sure the information they provide is accurate and considered."
A reader e-mails, wondering whether Matheson's great admiration for UnitedHealth is at all dimmed by the knowledge of where all those UnitedHealth premiums are going. Here's a little reminder in the form of a dossier for UnitedHealth CEO, Stephen J. Hemsley, courtesy Sick for Profit.
2007 Compensation: $13.2 million
2008 Compensation (Forbes): $3,241,042
Former Managing Partner and CFO of Arthur Andersen (BusinessWeek)
Total Value of Unexercised Stock Options (Forbes): $744,232,068
2009 Options Exercise: $127,001,281
Value of Wayzata, Minnesota Home (Hennepin County Assessor): $6,640,000
Articles: Hemsley returns $190 million in stock options acquired as a result of practices found to be fraudulent by the SEC (American Medical News)
But what's a little stock fraud among friends? Everybody's doing it. Good thing those Blue Dogs Matheson and Ross have to look out for the interests of the insurance companies, make sure that they've "leveled the playing field" for the poor insurance companies who might have to compete with a public option.