and yet, when this gentleman retired from united health group in 2006, he received a $285 million golden parachute. so we have the most dysfunctional health care system in the world, the most expensive health care system, tens of millions of people uninsured, yet the head of a major insurance company gets $285 million in retirement benefits. that is called oligarchy. but let me take oligarchy away from the economic realm and turn it into an area that i am, and many americans are, very, very concerned about. recently we saw an interesting spectacle about politics that took place in las vegas. and that is that a gentleman named sheldon adelson, who is worth some $38 billion, who is maybe the world's largest casino magnet not only in las vegas, but off the shores of china as well, he held a meeting in las vegas in which he brought forth republican candidates who are interested in run tporg president. now -- interested in running for president. now here's the point. in the last presidential election both president obama and mitt romney spent a little over $1 billion in their campaign. sheldo

after a rocky debut, the nation's largest insurer, united health group, says exchanges are doing just fine. the group told investors it will expand into more states into the next year, which president obama used to defend the law against the party that has spent the last four years trying to dismantle it. >> i find it strange that the republican position on this law is still stuck in the same place it's always been they still can't bring themselves to admit the affordable care act is working. they said nobody would sign up. they were wrong about it that. said it would be unaffordable for the country. they were wrong about that. they were young to keep trying to repeal a law that is poworki when they have no alternative answer for millions of americans who have preexisting conditions. >> nia malika henderson and howard feinman. two big numbers, 8 and 35. 8 million enrollees, 35% of them under the age of 35. it's a good day at 1600 pennsylvania avenue. >> it is a good day. you know, months ago you didn't think the white house would get here. they've announce more recently 7.5 million ha

bill mcguire of united health group was with the company for 15 years but was fired in 2006 for improperlyions. he left with $286 million. an annualized $19 million. home depot gave bob nardelli a bundle when he they hired him for ge to make up for what he left on the table at the conglomerate. then they fired him after six years because lowe's was eating home depot's lunch. he took home $222 million. but call it a case of more saving, more doing. since then the stock is up 100 percent. pfizer ceo socked away millions in pension plans and deferred payment plans so even after he lost billions on acquisitions under his watch he walk away with over $180 million. some $38 million for every year the company was losing money when he was ceo. now merrill lynch's debacle in the financial crisis cost stan o'neill his job but not a penny when it came to his deferred pay and stock. he left with $161 million. the company was later sold to bank of america. lastly, michael ovitz, the super agent, was hired to leave caa behind and join disney as ceo. his 15 months on the job was more adventure land than

unitedhealth group, the biggest united health insurer said profits fell 7.8%.sn't hurt by cuts -- it was hurt by cuts to its medicare advantage program. to $1 billion. geb analyst estimates with its andt-quarter operating etf reaffirmed its 2014 forecast. ge shares are down five percent year to date and little changed on this latest earnings news. those are the top headlines. >> thank you. my next guest is a seven-time grammy award-winning music legend and the lead singer of earth, wind, and fire. his brand-new album hit shelves this week. philip daly joins me now. bailey joins me now. model for music distribution now uses multiple platforms. that is not how it was back in the day. you might have to take the literal reel to reel tape and take it to somebody office -- somebody's offices to get them to hear it. are there drawbacks to the weights than now? >> it is now and everyone's disposal the moment you make it and record it, because people can copy it to delete -- a digitally and sell it. it is pretty dicey. >> it does open itself up, perhaps, to the legality

as a whole lot of difference between offering a monopoly in health insurance in the united states today and a small group and individual health markets and actually have created something that people like and want to be part of. there's a big difference, a big distinction and i think it's the most important thing to understand where we are with the affordable care act today. i'll tell you what i think we need to go and that they were i think the fixes need to be, short-term and long-term but i'll tell you i don't think there's any chance we will have any fixes before at least 2017. it doesn't matter what happens in the election in 2014 whether the republicans capture the senate or not. we're not going have the environment or the votes for any kind of substantial change to the affordable care act. we will probably not have the political atmosphere for any substantial can change. i think this thing limps along for a number of reasons. it livelong actuary our financial and it lets along politically. i will also tell you that i think while the supporters of obamacare citing 8 million account of his days i th

as a whole lot of difference between offering a monopoly in health insurance in the united states today and a small group and individual health markets and actually have created something that people like and want to be part of. there's a big difference, a big distinction and i think it's the most important thing to understand where we are with the affordable care act today. i'll tell you what i think we need to go and that they were i think the fixes need to be, short-term and long-term but i'll tell you i don't think there's any chance we will have any fixes before at least 2017. it doesn't matter what happens in the election in 2014 whether the republicans capture the senate or not. we're not going have the environment or the votes for any kind of substantial change to the affordable care act. we will probably not have the political atmosphere for any substantial can change. i think this thing limps along for a number of reasons. it livelong actuary our financial and it lets along politically. i will also tell you that i think while the supporters of obamacare citing 8 million account of his days i th

private health insurance in the united states is historically sold in three markets, large, small, and non-group or individual market. any americans, particularly in large groups, are covered by self-insurance plans which are not insurance, but most employees believed to be insurance. the large group market was functioning very late now for most people covered before reform. costs were high and coverage was always precarious because loss of employment meant loss of coverage, but as long as an individual is covered coverage was reasonable comprehensive. the small-group group market functioned less well, particularly for very small groups, and the individual market was dysfunctional for many participants. the aca will affect all insurance markets, but in fact insurance markets will continue to evolve and would have even without the aca. health care costs will continue to increase, driving premiums up . employers will continue to move towards higher cost sharing and imposing wellness programs on employees and moved to private discs changes. a writer networks may move up from the exchanges -- provid

private health insurance in the united states historically has been sold in three markets, large group, small group and the non-group or individual market. many americans, particularly in large groups, are covered by self-insured plans which are technically not insurance but which most employees i think believe to be insurance. a large group was functioning very well for most people covered by it before reform. costs were high and coverage was always precarious because loss of employment meant loss of coverage but as long as an individual was covered, coverage was reasonably comprehensive to a small group markets function less well, particularly were some very small groups, and the individual market was dysfunctional for many participants. the aca will affect all insurance markets but, in fact, insurance market will continue to evolve and would have even without the aca. health care costs will continue to increase driving premiums up, employers will continue to move towards higher cost sharing and imposing wellness programs on employees, and don't get me started on wellness programs, a

group at wgbh access.wgbh.org  . >>> this is "nightly business report," with tyler mathisen and susie gharib. >>> dow deluge, what results from dow stocks at general electric, goldman sachs and united healthe, say about the industry and economy, industry, finance and health care. >>> and every do something as simple as download a coupon for cherrios? well, you just gave up your right to sue them in court. >>> and stocks the best week in court. a list of under the radar names that could see double digit returns. we have all that and more tonight on "nightly business report" for thursday april 17th. >>> good evening, everyone, and welcome, a triple play for earnings today, three dow

group at wgbh access.wgbh.org  . >>> this is "nightly business report," with tyler mathisen and susie gharib. >>> dow deluge, what results from dow stocks at general electric, goldman sachs and united health care, say about the industry and economy, industry, finance and health care. >>> and every do something as simple as download a coupon for cherrios? well, you just gave up your right to sue them in court. >>> and stocks the best week in court. a list of under the radar names that could see double digit returns. we have all that and more tonight on "nightly business report" for thursday april 17th. >>> good evening, everyone, and welcome, a triple play for earnings today, three dow