EDS and TP form joint venture

Moving to address the growing human resources outsourcing market, Electronic Data Systems is teaming with Towers Perrin on a joint venture. In addition, Towers Perrin signed a 10-year $365 million deal with Electronic Data Systems to outsource its global network, desktop and hosting environment. EDS will also develop and manage some applications for Towers Perrin under the contract. The new company, yet to be named, will be 85% owned by EDS and 15% owned by Towers Perrin. Steve Bohannon, EDS' vice president of HR services, will lead the new company, which will be governed by a board of directors from both companies. Under the deal, EDS will pay an estimated $420 million to Towers Perrin.

This deal has the potential to alter the landscape of the HR Outsourcing and Business Process Outsourcing industry drastically.

Rep. Bernie Sanders, Have a Coke and a smile and ...

For those who haven't heard of the Sanders amendment (in fact, for those who HAVE as well), a very well argued article . . .

http://www.sbca.net/moresanders.php

I PASSED

I passed the SOA course 5 exam!!!!

I had almost forgotten what it felt like to pass; my last passing grade was exactly three years ago - on the Course 4 exam in the Fall 2001 sitting.

MMC to settle

Marsh & McLennan has offered to pay $600 million to settle insurance bid-rigging allegations, but the New York attorney general wants $750 million and a public apology, the Wall Street Journal reported on Friday, citing people familiar with the matter. The newspaper said negotiations between the office of New York Attorney General Eliot Spitzer and representatives of the New York financial-services company have moved forward quickly in recent days and a pact could be struck as soon as next week.

MMC Executive Guilty

Robert Stearns, 40, a senior vice president and Marsh Inc. employee for more than 20 years, entered the plea in Manhattan's State Supreme Court to first-degree scheme to defraud, which is punishable by up to four years in prison.