Mutual Insurers' policyholders gaining power; Despite a 1995 law, conversion plans by two Pa. firms were blocked

Article Abstract:

A Pennsylvania state law passed in 1995 allows mutual insurance companies to reorganize in order to offer stock to the public. Two companies, however, have been blocked in their reorganization plans. Policyholders of Mercer Mutual Insurance Co. voted down its restructuring plan in March. A group of eight policyholders have filed suit against Provident Mutual, and a judge had issued a prliminary injuction against the company. 89% of Provident's policyhoders voted in favor of the reorganization, but the disidents claim the company distributed incomplete and misleading information. The issue in both cases is whether policyhoders should be paid for their stake in the mutual insurer when it reorganizes.

Securities Dealers, Investment Banking and Securities Dealing, Government regulation (cont), Insurance, Insurance Carriers and Related Activities, Life Insurance, Direct Life Insurance Carriers, Provident Mutual Life Insurance Company of Philadelphia, Mercer Mutual Insurance Co.

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Phone firm dailing up new focus; For years, InterDigital has been trying to sell systems. Now, it wants to license its wireless technology

Article Abstract:

InterDigital Communications Corp., with headquarters in King of Prussia PA, has implemented a new strategy. Instead of designing and selling complete wireless phone systems as the company's main business, it will concentrate on earning most of its profits from licensing patented technology to major companies such as Nokia Telecommunications of Finland with which it has a long-term cooperative agreement.

Finland, Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing, Mobile & Base Transceivers, Strategic alliances, Transceivers, InterDigital Communications Corp., Nokia Telecommunications Oy

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When the stork comes, wallets open

Article Abstract:

The article discusses three Philadelphia stores specializing in baby merchandise, Normans Juvenile Furniture, Karl's, and Raisman's Baby Furniture.

HOME FURNITURE, FURNISHINGS, AND EQUIPMENT STORES, Furniture & Appliance Stores

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