Fore! Pinnacol still swinging
By The Denver Post
05/29/2010
http://www.denverpost.com/headlines/ci_15185109Pinnacol Assurance's Ken Ross still doesn't get it. The chief executive of the quasi-governmental entity that oversees the largest pool of workers' compensation insurance in Colorado apparently still believes he's being imposed upon by having to rethink his practice of treating salesmen and board members to lavish vacations on the company's earnings.
Caught hosting a five-day, wine-and-golf getaway at Pebble Beach earlier this month, Ross and the three board members who joined the trip are facing calls for resignation from lawmakers. But Ross' attempt to apologize rings empty and cynical. He says that although such outings are "standard in the insurance industry," he'll reevaluate how such trips will be conducted going forward. First, Pinnacol isn't a fully private business; it enjoys lucrative tax exemptions. Second, while recognition events for top agents are proper, the core problem here is that Ross is getting to treat the board members who set his salary and benefits to these pleasure cruises.
But even on this second point, where is Ross' recognition that there is a big gulf between acknowledging a job well done and a high-end junket at a five- star resort? When did a nice dinner and a plaque go out of style?
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