Statement by AFL-CIO President John Sweeney On ULLICO Board Adopting the Thompson Report’s Remedial Recommendations

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Press Releases, Speeches & Testimony

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Statement by AFL-CIO President John Sweeney On ULLICO Board Adopting the Thompson Report’s Remedial Recommendations
May 14, 2003

We commend the newly elected ULLICO board for its decision yesterday to adopt the remedial recommendations of the special report on ULLICO by former Illinois Gov. Jim Thompson. The board called for those individuals who profited from some of the stock trades in question to make ULLICO whole as well as for further review of the remainder of the trades, as recommended in the Thompson report.

By dealing with the problems at ULLICO head on and upholding the highest standards of corporate accountability, the ULLICO board is restoring confidence in this important working family financial institution and putting it squarely on the road to full recovery.

Contact: Lane Windham (202) 637-5018