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Billionaire Ballot

News Story
11/8/2012
Posted by Mark Reback
What do Thomas Steyer and Chris Kelly know that fellow California high-rollers George Joseph, Molly Munger, her brother Charles T. Munger Jr. and Nicolas Berggruen don't? All six multimillionaires bankrolled a ballot proposition in this year's election. But voters approved the ones backed by Steyer, a financier in San Francisco, and Kelly, a...
News Story
11/7/2012
Posted by Mark Reback
SACRAMENTO — A Los Angeles insurance executive's drive to boost his company's fortunes by seeking authority to offer a new auto coverage discount got trounced by voters. Proposition 33, bankrolled by Mercury General Corp. Chairman George Joseph, lost with 45.4% of the vote to opposition of 54.6% with all California precincts reporting. The...
News Story
11/7/2012
Posted by Mark Reback
LOS ANGELES, CA -- For the second time in three years, voters have rejected a ballot initiative that would have let auto insurers charge drivers based on their history of maintaining coverage. Proposition 33 failed Tuesday with about 55 percent voting against. It was the second attempt by billionaire insurance executive George Joseph to let...
News Story
11/7/2012
Posted by Mark Reback
SACRAMENTO -- The consumer activists that defeated the Proposition 33 auto insurance initiative, despite their small budget, are crowing over their victory and spoiling for a new fight. This tiime, it's with the health insurance industry. Consumer Watchdog of Santa Monica is winding up its own initiative on the 2014 ballot to regulate health...
News Story
11/7/2012
Posted by Mark Reback
The “B” word may have been the most lethal weapon against an automobile insurance portable persistency initiative put to Californians, the second such initiative in the last two years to be defeated. California’s Proposition 33, the 2012 Automobile Insurance Discount Act, was defeated with 54.6 percent voting against it, while it got 45.4 “...
News Story
11/7/2012
Posted by Mark Reback
SACRAMENTO -- Voters rejected Proposition 33, a measure that would have allowed car insurers to offer discounts to drivers who maintain continuous coverage and raise rates on those who do not have a consistent history of coverage. Current state law enables insurers to offer loyalty discounts to drivers who maintain coverage with one company,...
News Release
11/6/2012
Posted by Carmen Balber
Santa Monica, CA – Consumer advocates with the No On Proposition 33 campaign will be available for comment and election night reaction in San Francisco, Sacramento and Santa Monica tonight. Mercury Insurance Chairman George Joseph and his campaign to pass Prop 33 have pulled out some eleventh-hour dirty tricks and voter deceptions, said Consumer...
Article
11/5/2012
Posted by Mark Reback
George Joseph, founder of Mercury General Group, is virtually the sole bankroller of Prop. 33, which he sees as a tool for poaching customers from competitors. George Joseph must think that the old saw defining insanity as doing the same thing over and over and expecting a different result doesn't apply to him — or at least that it's amenable to...
News Story
11/5/2012
Posted by Mark Reback
The guy behind Proposition 33, insurance magnate George Joseph, has spent nearly $17 million to fight for the right to extend discounts to drivers who've had five years of uninterrupted coverage, even if that coverage has come from more than one company. Joseph has said that he's pushing the measure because he believes it would lead to more...
News Story
11/5/2012
Posted by Mark Reback
The campaign in favor of Proposition 33 has been so consistently misleading, it's almost pointless to keep criticizing the measure's supporters for warping the facts. Nevertheless, an advertisement Monday in favor of the measure makes a point that bears rebutting before voters head to the polls. The proposition would allow auto insurers to offer...