I bet there are some who would applaud this as a company creatively thinking outside the box (or coffin, as it were) to increase profits. And profits, after all, is the reason to be in business.
When Karen Armatrout died in 1997, her employer, Wal-Mart, collected thousands of dollars on a life insurance policy the retail giant had taken out without telling her, according to a lawsuit filed in U.S. District Court.
Armatrout was one of about 350,000 employees Wal-Mart secretly insured nationwide, said Texas attorney Michael D. Myers, who estimated the company collected on 75 to 100 policies involving Florida employees who died.
Myers is seeking to make the Armatrout lawsuit a class-action case on behalf of the estates of all the Florida employees who died while unwittingly insured by Wal-Mart.
“Creepy’s a good word for it,” Myers said. “If you ask the executives that decided to buy these policies and the insurance companies that sold them, they would say this was designed to create tax benefits for the company, which would use the benefits for benevolent purposes such as buying employee medical benefits.
“If you asked me, I would say they did it to make more money.”
Germany kicks out Wally Mart
Score 2 for Germany
Germany opposes war
If only Americans wouldn’t be such fawning corporate republican sycophants.
It’s 4th of July, hopefully more Americans will use their Independence to think for them selfs, like they once did (before TV).
I think noname in #16 explained it pretty well why it is wrong for a company to life insure employees without their knowledge or consent.
The employer is not only in a position to know things the insurance company wouldn’t, they are also in a position to influence the employees life through work schedules etc. I can’t say if Walmart did or did not act benignly. This something I would think the SEC would regulate.