MagneTek to Aid Its Executive Life-Insured Retirees:...
From Times Staff and Wire Reports
MagneTek to Aid Its Executive Life-Insured Retirees: Los Angeles-based MagneTek Inc. said it will make monthly payments to about 600 of its retirees whose pensions are covered by Executive Life Insurance Co., which was seized by insurance regulators two weeks ago. The company expects that Executive Life and other insurance safety nets will eventually reimburse the company for the cost.
