Business Services Industry
OPINION: Equitable Has a Right to Clear Its Name.
Knight Ridder/Tribune Business News, March, 2004
By Vanni Treves, Daily Mail, London Knight Ridder/Tribune Business News
Mar. 22--On Wednesday MPs will debate the Penrose Report into Equitable Life's fall from grace. No doubt it will be a lively affair.
The important issues uncovered by Penrose deserve a thorough airing in Parliament.
Equitable has been analysing the full report since receiving it a fortnight ago.
We will give policyholders our overview of this 830-page tome as soon as we can. But what have we gleaned already? What is the new Board doing about it?
The report is no whitewash. Lord Penrose is direct and forthright in his condemnation of the past.
He says the society's former management was "the author of its own misfortune" and ex-...
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