Misplaced Pages

#460539

32-649: The program was sponsored during its entire run by the Prudential Insurance Company , whose Rock of Gibraltar symbol was often the backdrop for the opening and closing credits.  But the company approved the topics and limited the treatment of issues it felt to be potentially upsetting to a large audience, particularly social and religious subjects.  Prudential -– and the Department of Defense which provided film footage and cooperation for many episodes—also wanted an uncritical portrayal of

64-500: A class action lawsuit by millions of its customers who had been sold unnecessary life insurance by Prudential agents over a 13-year period ending in 1995. The settlement called for Prudential to repay an estimated $ 2 billion to customers through direct refunds and enhancements to existing policies. The settlement had been the subject of extensive negotiations involving not only Prudential and its customers, but also insurance regulators in 30 states. Prudential had agreed in early 1997 to pay

96-583: A 100% rating on the Corporate Equality Index released by the Human Rights Campaign every year since 2003, the second year of the report. In addition, the company is in the "Hall of Fame" of Working Mothers magazine among other companies that have made their "100 Best Companies for Working Mothers" list for 15 or more years. It is still achieving that list, as of 2013. According to Business Week's The Best Places to Launch

128-529: A 1907 Massachusetts law to protect workers by allowing savings banks to sell life insurance at lower rates. Prudential has evolved from a mutual insurance company (owned by its policyholders) to a joint stock company (as it was prior to 1915 ). It is now traded on the New York Stock Exchange under the symbol PRU . The Prudential Stock was issued and started trading on the New York Stock Exchange on December 13, 2001. On August 1, 2004,

160-577: A Career 2008 , Prudential Insurance was ranked #59 out of 119 companies on the list. In 2007, The Prudential Foundation provided over $ 450,000 in Prudential CARES Volunteer Grants to 444 nonprofit organizations worldwide. The Prudential CARES Volunteer Grants Program recognizes individual and team volunteers based on a minimum of 40 hours of volunteer service per individual. Grants range from $ 250 to $ 5,000 for each award winner's charitable organization. Prudential ranked #69 on

192-656: A deadlock in the state legislature , which at the time elected U.S. Senators. While in the Senate, he was chairman of the Committee on Relations with Canada (57th Congress) and a member of the Committee on Enrolled Bills (58th and 59th Congresses). Dryden was married to Cynthia Jennings Fairchild (1842–1916). Together, they were the parents of: Dryden died in Newark, New Jersey , on November 24, 1911, from pneumonia , following removal of gall stones two weeks earlier. After

224-488: A fine of $ 35 million to settle state allegations of deceptive sales practices. Prudential acknowledged that for more than a decade its agents had improperly persuaded customers to cash in old policies and purchase new ones so that the agents could generate additional sales commissions. In 2010, various media outlets noted allegations that the Prudential Life Insurance Company was manipulating

256-744: A funeral at the Third Presbyterian Church in Newark, he was buried at Mount Pleasant Cemetery there. His estate was valued at $ 50,000,000. In addition to his home in Bernardsville, New Jersey , Dryden was in the process of constructing a home in High Point, New Jersey , that was to be one of the largest homes in the country. His daughter Susan used part of the Prudential fortune to donate 10,500 acres (42 km ) for

288-399: A large scale and blithely ignored a 1986 SEC order to overhaul its internal enforcement of securities laws. In all, some 400,000 individual investors lost money on the deals. In 1993, Prudential Financial eventually settled with investors for $ 330 million. Prudential said it would repay customers across the U.S. who lost money on the company's limited partnerships in the 1980s. In addition,

320-488: A new CEO, John R. Strangfeld , to replace retiring Arthur F. Ryan . In 1981, the company acquired Bache & Co. , a stock brokerage service that operated as a wholly owned subsidiary until 2003, when Wachovia and Prudential combined their retail brokerage operations into Wachovia Securities , with Prudential a minority stake holder. In 1999, Prudential sold its healthcare division, Prudential HealthCare, to Aetna for $ 1 billion. On May 1, 2003, Prudential formalized

352-481: The Prudential Friendly Society . It was founded by John F. Dryden , who later became a U.S. Senator. In the beginning, the company sold only one product, burial insurance. Dryden was the president of Prudential until 1912. He was succeeded by his son Forrest F. Dryden , who was the president until 1922. A history of The Prudential Insurance Company of America up to about 1975 is the topic of

SECTION 10

#1732786749461

384-513: The U.S. Department of Homeland Security announced the discovery of terrorist threats against the Prudential Headquarters in Newark, New Jersey, prompting large-scale security measures that included concrete barriers outside the premises and internal X-ray machines. In the same year, a joint venture was formed between Prudential and China Everbright Limited . On November 28, 2007, the Prudential board of directors elected

416-632: The 2017 Forbes World’s Biggest Public Companies list, calling out their $ 45.6 billion market value. Prudential ranked No. 52 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. As of 2019, Prudential is the largest insurance provider in the United States with $ 815.1 billion in total assets. See also the article on the Prudential Spirit of Community Award . John F. Dryden John Fairfield Dryden (August 7, 1839 – November 24, 1911)

448-399: The U.S. military. Prudential withdrew sponsorship after the ninth season when sports programming seriously cut into the number of its 6 pm Sunday timeslots, and contemporary subjects came to dominate productions. The series’ theme music, in which a ragtime-tinged orchestral cacophony abruptly changes to a triumphal contemporary march, was famous in its day.  Aired in several versions, it

480-487: The acquisition of American Skandia , the largest distributor of variable annuities through independent financial professionals in the United States. The CEO of American Skandia, Wade Dokken , partnered with Goldman Sachs and sold the division to Prudential for $ 1.2 billion. The combination of American Skandia variable annuities and Prudential fixed annuities was part of Prudential's strategy to acquire complementary businesses that help meet retirement goals. In April 2004,

512-620: The acquisition. During the 1980s and 1990s, Prudential Securities Incorporated (PSI), formerly a division of Prudential Financial, was investigated by the Securities and Exchange Commission (SEC) for suspected fraud. During the investigation, it was found that PSI had defrauded investors of close to $ 8 billion, the largest fraud found by the SEC in US history to that point. The SEC charged that Prudential allowed rogue executives to cheat customers on

544-548: The book Three Cents A Week , referring to the premium paid by early policyholders. At the turn of the 20th century, Prudential and other large insurers reaped the bulk of their profits from industrial life insurance, or insurance sold by solicitors house-to-house in poor urban areas. For their insurance, industrial workers paid double what others paid for ordinary life insurance, and due to high lapse rates, as few as 1 in 12 policies reached maturity. Prominent lawyer and future U.S. Supreme Court Justice Louis Brandeis helped pass

576-720: The company acquired the retirement business of CIGNA Corporation . In late 2009, Prudential sold its minority stake in Wachovia Securities Financial Holdings LLC to Wells Fargo & Co. In 2011, Prudential sold Prudential Bache Commodities, LLC to Jefferies. In February 2011, the company acquired AIG Edison and AIG Star both in Japan from American International Group , Inc (AIG) for a total of $ 4.8 billion. This acquisition bolstered Prudential's operations in Asia while giving cash to AIG to pay back

608-410: The company to the payee (in many cases a fallen service members' family). While Prudential was making profits of up to 4.2% in its general account in early 2010, they paid out 0.5% interest in these non-FDIC insured "Alliance" accounts. In some cases, when families requested to be sent a full payout in the form of a check, the family was sent a checkbook, rather than the amount due. It is not clear if

640-582: The federal government from its bailout in 2008. In January 2013, the company acquired the individual life insurance business from The Hartford for $ 615 million in cash. The acquisition includes 700,000 in force life insurance policies with a face amount of approximately $ 135 billion. This move by Prudential brought over additional life insurance revenue. In September 2019, the company agreed to acquire online startup Assurance IQ Inc. for $ 2.35 billion. Assurance has underperformed financial expectations, and industry commentators believe Prudential paid too much for

672-497: The firm was required to pay another $ 41 million in fines. The settlement also resolved investigations of the firm by the National Association of Securities Dealers and 49 states, including California, where 52,000 investors lost money in Prudential limited partnerships. Further investigation was conducted by the SEC into the executives of the company to determine the extent of the fraud. In 1997, Prudential settled

SECTION 20

#1732786749461

704-515: The original theme music, for which Antheil remained uncredited. Prudential Insurance Company Prudential Financial, Inc. is an American Fortune Global 500 and Fortune 500 company whose subsidiaries provide insurance , retirement planning , investment management , and other products and services to both retail and institutional customers throughout the United States and in over 40 other countries. In 2019, Prudential

736-447: The payout of life insurance benefits due to the families of American soldiers in order to gain extra profits. The company provided life insurance to people in the armed forces under a government contract. Rather than paying the full amount due to the families at once, the company would instead deposit the funds into a Prudential corporate account. These accounts are referred to as 'retained asset accounts' and are essentially an I.O.U. from

768-505: The practice was in violation of law or the contract. In August 2010, the company was sued by a number of the bereaved families. The company's response included an open letter to the military community in which it addressed what it characterized as "misinformation" about the nature of the accounts. Military Times noted that prior lawsuits against insurance companies pertaining to the use of retained asset accounts have been dismissed in federal courts without action. Prudential has received

800-525: The scores and led the CBS Orchestra in performances. The series was replaced in 1967 with a spin-off, The 21st Century . Produced by many of The Twentieth Century team and narrated by Cronkite, the new series focused on what humankind could shape and expect by examining aspects of the future already evident in the present.  It was sponsored by Union Carbide ("The Discovery Company"). The 21st Century ran only three seasons (its final broadcast

832-563: The years, the symbol went through various versions, but in 1989, a simplified pictogram symbol of the Rock of Gibraltar was adopted and has been used ever since. The logotype was updated with a proprietary font in 1996. The font, Prudential Roman, was designed by Doyald Young and John March, based on the Century font family. Started in Newark, New Jersey , in 1875, Prudential was originally called The Widows and Orphans Friendly Society , then

864-570: Was an American insurance executive and Republican politician who represented New Jersey in the United States Senate from 1902 to 1907. Prior to his election, Dryden founded the Fidelity Trust Company and Prudential Insurance Company . He served as president of Prudential from 1881 until his death, when he was succeeded by his son Forrest F. Dryden . He was known as the "father of industrial insurance". Dryden

896-597: Was born in Temple, Maine , on August 7, 1839. He moved in 1846 with his parents to Worcester, Massachusetts . He graduated from Worcester Academy and later attended Yale College . In 1875, he founded the Widows and Orphans Friendly Society (now Prudential Financial ) in Newark, New Jersey , becoming its first secretary and in 1881 its president, serving in the latter position until his death in 1911. His son Forrest succeeded him as president, serving until 1922. Dryden

928-487: Was on 4 January 1970). The reason given was that the writers had run out of topics, but CBS may have wanted a more commercially successful program. The original program concept was revived in 1994 with The 20th Century with Mike Wallace . The new series was produced by CBS News Productions in association with A&E Network and premiered on The History Channel .  166 episodes were produced and aired during 1994-2005.  Peter Fish arranged, adapted, and extended

960-507: Was one of the founders of the Fidelity Trust Company and was involved in the establishment and management of various street railways, banks, and other financial enterprises in New Jersey, New York, and Pennsylvania. He was elected as a Republican to the U.S. Senate to fill the vacancy caused by the death of William J. Sewell , serving from January 29, 1902, to March 3, 1907. Dryden was a candidate for reelection but withdrew because of

992-627: Was the largest insurance provider in the United States with $ 815.1 billion in total assets. The company uses the Rock of Gibraltar as its logo . The use of Prudential's symbol, the Rock of Gibraltar, began after an advertising agent passed Laurel Hill , a volcanic neck, in Secaucus, New Jersey , on a train in the 1890s. The related slogans "Get a Piece of the Rock" and "Strength of Gibraltar" are also still quite widely associated with Prudential, though current advertising uses neither of these. Through

The Twentieth Century - Misplaced Pages Continue

1024-631: Was written by the erstwhile avant-garde composer George Antheil and is arguably his most heard work.  The loud stirring orchestral movement "Simple Gifts" from Aaron Copland's "Appalachian Spring" was also used. (Curiously, the theme never had an on-screen credit and has been available only on copies of the original broadcasts.)  Many episodes had original scores commissioned from a wide range of contemporary classical and film composers, including Antheil, Auric, Creston, Gould, Hovhaness, Kay, Kubik, Milhaud, Nascimbene, Rosenthal, Shapero, Siegmeister, Tcherepnin, and Waxman. Alfredo Antonini composed half

#460539