Declarations

Fallen Tower Crane

“He is the expert in cranes, the go-to guy. Bill Rapetti wouldn’t put a worn strap on a crane.”

—Arthur Aidala, lawyer for contractor William Rapetti, who faces seven manslaughter charges in connection with the fatal collapse of a 19-story tower crane in a Manhattan neighborhood last March. Investigators say Rapetti – who owned Rappetti Rigging Services Inc. – used shoddy equipment, which lead to the crane’s collapse.

Older is Better

“No matter how we looked at the fatal crash data for this age group – whether by miles driven, licensed drivers, or population – the fatal crash involvement rates for drivers 70 and older declined, and did so at a faster pace than the rates for drivers 35 to 54 years old.”

—Anne McCartt, senior vice president of the Insurance Institute for Highway Safety, who authored a new study which shows that, despite growing numbers on the road, fewer older drivers died in crashes and fewer were involved in fatal collisions between 1997 and 2006 than in years past. Crash deaths among drivers 70 and older fell 21 percent during the period, reversing an upward trend, even as the population of people 70 and older rose 10 percent.

Courting Change

“If a justice is considering stepping down, it tends to happen when the party of the president that nominated that justice is in power.”

—Tracey George, researcher and law professor at Vanderbilt University, discussing the impact a new presidency could have on country’s judicial landscape. Three of the Supreme Court’s justices – John Paul Stevens, Ruth Bader Ginsburg and David Souter – are likely to leave office during Obama’s presidency.

Ponzi’d Rates

“These figures represent material costs, but are not likely to have a significant impact on the insurance industry.”

—Stephen Mildenhall, head of Aon Benfield’s Actuarial and Enterprise Risk Management practice, commenting on the impact of Bernard Madoff’s Ponzi Scheme. Direct insured losses from the scheme are estimated between $760 million and $3.8 billion, with a best estimate of $1.8 billion.

Settlement Reached

“Marsh’s conduct underscores the need for strong enforcement and deterrence in the insurance arena.”

—Massachusetts Attorney General Coakley, commenting on $7 million settlement reached between Marsh and nine states. The settlement resolves a four-year-old investigation into bid-rigging by the brokerage. Massachusetts, Maryland and Pennsylvania are among the states receiving part of the settlement.