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John Garamendi

BUSINESS
November 17, 2004 | Thomas S. Mulligan, Times Staff Writer
State regulators on Tuesday urged the federal government to take a stronger hand in investigating and ending cartel-like behavior in the insurance industry, but to do so without reducing the states' traditional authority over insurance. New York Atty. Gen.
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BUSINESS
November 10, 2004 | Lisa Girion and James F. Peltz, Times Staff Writers
California Insurance Commissioner John Garamendi on Tuesday dropped his opposition to Anthem Inc.'s proposed $18.4-billion purchase of WellPoint Health Networks Inc., paving the way for creation of the nation's largest health insurer. Garamendi, who four months ago called the transaction "one lousy deal for California healthcare consumers" and had used his authority to block it, said he changed his mind after Anthem agreed to make several major concessions.
BUSINESS
October 21, 2004 | Marc Lifsher, Times Staff Writer
California Insurance Commissioner John Garamendi said Wednesday that he was ready to go to court to stop illegal insurance sales practices said to affect multimillion-dollar commercial policies as well as consumer home and auto coverage. But first, he has to settle a turf battle with state Atty. Gen. Bill Lockyer.
BUSINESS
October 21, 2004 | Lisa Girion, By Lisa Girion Times Staff Writer
Regulators in three states that have approved Anthem Inc.'s proposed purchase of Thousand Oaks-based WellPoint Health Networks Inc. are raising new questions about the deal, increasing the likelihood that it may unravel. The Anthem-WellPoint deal has been in limbo since July when California Insurance Commissioner John Garamendi blocked part of it. Nine other states and Puerto Rico had already approved the acquisition that would create the nation's largest health insurer.
BUSINESS
August 26, 2004 | From Bloomberg News
California's insurance commissioner filed a motion Wednesday to dismiss an Anthem Inc. lawsuit that challenges his authority to block the company's $16.5-billion acquisition of WellPoint Health Networks Inc. Anthem sued Commissioner John Garamendi this month to overturn his finding that the WellPoint purchase would increase state healthcare costs. Garamendi says in a court filing in Los Angeles that he has the authority to block the merger. The acquisition would create the biggest U.S.
BUSINESS
August 17, 2004 | Marc Lifsher, Times Staff Writer
Facing conflict-of-interest concerns in the state Senate, Insurance Commissioner John Garamendi has withdrawn his nominee to head a state agency that oversees more than $1 billion in assets from failed insurance companies. Garamendi pulled the nomination of Fred A. Buck to the $260,000-a-year job as head of the Department of Insurance's Conservation and Liquidation Office after the Senate Rules Committee said it would take no action on the appointment.
BUSINESS
July 28, 2004 | Lisa Girion, Times Staff Writer
Anthem Inc. said Tuesday that it would sue California Insurance Commissioner John Garamendi within days, seeking to overturn his decision to block part of its planned $17-billion acquisition of WellPoint Health Networks Inc. of Thousand Oaks. "We simply believe very strongly that we've met all the statutory requirements and that Garamendi has really abused his discretion," Anthem Chief Executive Larry Glasscock told Wall Street analysts after the company reported second-quarter results.
BUSINESS
July 24, 2004 | Lisa Girion and Marc Lifsher, Times Staff Writers
California Insurance Commissioner John Garamendi on Friday blocked part of Anthem Inc.'s planned acquisition of WellPoint Health Networks Inc., a move that could stall the entire $17.5-billion deal. Garamendi's rejection came only hours after the state Department of Managed Health Care cleared the way for Anthem to acquire WellPoint's Blue Cross of California operation, which represents 90% of the Thousand Oaks-based company's business in the state.
BUSINESS
June 8, 2004 | Marc Lifsher, Times Staff Writer
Victims of the 1991 collapse of Executive Life Insurance Co. of California may receive small payouts thanks to the recent settlement of a federal criminal fraud case against French bank Credit Lyonnais, Insurance Commissioner John Garamendi announced Monday. Garamendi, who seized the company because of its junk-bond-laden investment portfolio during a previous term as commissioner, said that $110 million would be distributed among 330,000 former Executive Life policyholders.
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