A few years after ending publication of the Forum with the December 2013 issue, I posted on my blog some executive compensation data for 2015. The data from my three sources—the Securities and Exchange Commission (SEC), the New York State Department of Financial Services (DFS), and the Nebraska Department of Insurance (NDI)—are in No. 163 (May 23, 2016), No. 164 (May 31, 2016), and No. 165 (June 8, 2016). I have now assembled some executive compensation data for 2017.
During the final seven years of the Forum, I showed data for individuals who received at least $1 million in the year under study. For example, the final executive compensation tabulation in the Forum, showing data for 2012, was in the July 2013 issue. I am offering that tabulation on a complimentary basis at the end of this post. In the new tabulation in this post I show data for individuals who received at least $5 million in 2017. Where more than one individual in a company is shown, they are listed in descending order of compensation.
SEC Data for 2017
Each figure in the SEC data is the "Total" in the 2017 summary compensation table filed with the SEC by shareholder-owned public companies. The seven components of the "Total" are "Salary," "Stock Awards," "Option Awards," "Non-Equity Incentive Plan Compensation," "Change in Pension Value and Nonqualified Deferred Compensation Earnings," and "All Other Compensation."
The table for most companies is in the definitive proxy statement filed in advance of the company's 2018 annual meeting of shareholders. In a few instances, the table is in a 10-K annual report. For Canadian companies, the figures are in Canadian dollars, and the table is in a 6-K annual report. The documents referred to here are readily available to the public without charge at https://www.sec.gov/edgar/searchedgar/companysearch.html on the SEC website.
SEC Compensation Data for 2017 |
||
Aetna Inc |
||
Mark T Bertolini |
$18,750,816
|
|
Gary W Loveman PhD |
9,915,288
|
|
Richard M Jelinek |
7,917,107
|
|
Karen S Lynch |
7,666,746
|
|
Shawn M Guertin |
6,022,155
|
|
AFLAC Inc | ||
Daniel P Amos |
22,830,984
|
|
Frederick J. Crawford |
5,528,500
|
|
Alleghany Corp | ||
Weston M Hicks |
9,647,362
|
|
Allstate Corp | ||
Thomas J Wilson |
18,757,329
|
|
John Dugenske |
10,163,895
|
|
Matthew E Winter |
7,809,707
|
|
Steven E Shebik |
7,271,292
|
|
Don Civgin |
5,054,720
|
|
American Financial Group Inc | ||
Carl H Lindner III |
9,772,850
|
|
S Craig Lindner |
9,602,149
|
|
American International Group Inc | ||
Brian Duperreault |
43,086,861
|
|
Peter D Hancock |
24,208,608
|
|
Peter Zaffino |
17,692,606
|
|
Robert S Schimek |
16,454,821
|
|
Peter Y Solmssen |
14,604,342
|
|
Douglas A Dachille |
14,295,567
|
|
Kevin T Hogan |
13,546,670
|
|
Siddhartha Sankaran |
11,967,388
|
|
Ameriprise Financial Inc | ||
James M Cracchiolo |
23,900,309
|
|
Walter S Berman |
8,169,090
|
|
William F Truscott |
6,656,556
|
|
Colin Moore |
5,885,105
|
|
Anthem Inc | ||
Joseph R Swedish |
18,553,317
|
|
Gloria M McCarthy |
5,816,686
|
|
John E Gallina |
5,478,983
|
|
Peter D Haytaian |
5,422,957
|
|
Brian T Griffin |
5,412,155
|
|
Aon plc | ||
Gregory C Case |
14,609,682
|
|
Stephen P McGill |
7,679,793
|
|
Christa Davies |
7,382,514
|
|
Kristi Savacool |
7,209,668
|
|
Arch Capital Group Ltd | ||
Constantine Iordanou |
12,752,096
|
|
Nicolas Papadopoulo |
8,888,674
|
|
Marc Grandisson |
7,131,745
|
|
Assurant Inc | ||
Alan B Colberg |
9,274,743
|
|
Gene E Mergelmeyer |
5,412,189
|
|
Assured Guaranty Ltd | ||
Dominic J Frederico |
13,526,784
|
|
AXIS Capital Holdings Ltd | ||
Albert A Benchimol |
7,045,778
|
|
Centene Corp | ||
Michael F Neidorff |
25,259,468
|
|
Cynthia J Brinkley |
6,332,724
|
|
Jeffrey A Schwaneke |
5,546,562
|
|
Chubb Ltd | ||
Evan G Greenberg |
19,116,401
|
|
John W Keogh |
7,864,964
|
|
Paul J Krump |
7,010,885
|
|
John J Lupica |
6,163,883
|
|
Philip V Bancroft |
5,051,966
|
|
Cigna Corp | ||
David M Cordani |
17,595,792
|
|
CNA Financial Corp | ||
Dino E Robusto |
10,635,782
|
|
Jonathan D Kantor |
6,564,950
|
|
CNO Financial Group Inc | ||
Edward Bonach |
9,962,118
|
|
Enstar Group Ltd | ||
Dominic F Silvester |
16,871,090
|
|
Paul J O'Shea |
10,288,997
|
|
Orla M Gregory |
7,537,184
|
|
Everest Re Group Ltd | ||
Dominic J Addesso |
8,829,222
|
|
Fidelity National Financial Inc | ||
William P Foley II |
29,382,455
|
|
Raymond R Quirk |
8,961,216
|
|
Brent B Bickett |
7,303,777
|
|
First American Financial Corp | ||
Dennis J Gilmore |
8,330,344
|
|
Genworth Financial Inc | ||
Thomas J McInerney |
8,965,211
|
|
Kevin D Schneider |
6,798,621
|
|
Daniel J Sheehan IV |
6,576,254
|
|
Hartford Financial Services Group | ||
Christopher Swift |
13,115,285
|
|
Douglas Elliot |
8,973,264
|
|
Humana Inc | ||
Bruce D Broussard |
19,768,525
|
|
Brian A Kane |
5,658,476
|
|
Lincoln National Corp | ||
Dennis R Glass |
14,963,035
|
|
Loews Corp | ||
James S Tisch |
6,527,773
|
|
David B Edelson |
5,583,273
|
|
Jonathan M Tisch |
5,543,334
|
|
Andrew H Tisch |
5,384,285
|
|
Kenneth I Siegel |
5,110,749
|
|
Manulife Financial Corp | ||
Roy Gori |
12,756,342
|
|
Donald Guloien |
12,188,265
|
|
Warren Thomson |
7,155,985
|
|
Steve Roder |
6,906,681
|
|
Marianne Harrison |
5,962,698
|
|
Marsh & McLennan Companies Inc | ||
Daniel S Glaser |
17,011,341
|
|
Julio A Portalatin |
7,401,281
|
|
John Q Doyle |
6,929,455
|
|
Peter J Beshar |
5,210,829
|
|
MetLife Inc | ||
Steven A Kandarian |
14,726,721
|
|
Michel Khalaf |
6,325,447
|
|
John C R Hele |
5,339,029
|
|
Martin J Lippert |
5,899,896
|
|
MGIC Investment Corp | ||
Patrick Sinks |
7,033,794
|
|
Molina Healthcare Inc | ||
Joseph M Zubretsky |
19,739,108
|
|
J Mario Molina MD |
16,998,004
|
|
John C Molina |
8,013,953
|
|
National Western Life Group Inc | ||
Ross R Moody |
6,756,680
|
|
Principal Financial Group Inc | ||
Daniel J Houston |
11,958,736
|
|
James P McCaughan |
6,033,877
|
|
Progressive Corp | ||
Susan Patricia Griffith |
9,274,439
|
|
Protective Life Corp | ||
John D Johns |
13,127,403
|
|
Richard J Bielen |
8,002,361
|
|
Carl S Thigpen |
5,548,577
|
|
Prudential Financial Inc | ||
John R Strangfeld |
27,111,399
|
|
Mark B Grier |
17,561,490
|
|
Stephen Pelletier |
15,973,459
|
|
Charles F Lowrey |
11,799,322
|
|
Robert M Falzon |
9,149,071
|
|
Radian Group Inc | ||
Richard G. Thornberry |
6,876,816
|
|
Sanford A Ibrahim |
6,769,740
|
|
Reinsurance Group of America Inc | ||
Anna Manning |
7,041,523
|
|
RenaissanceRe Holdings Ltd | ||
Kevin J O'Donnell |
7,810,052
|
|
Sun Life Financial Inc | ||
Dean A Connor |
9,146,847
|
|
Stephen C Peacher |
6,753,607
|
|
Torchmark Corp | ||
Gary L Coleman |
8,366,856
|
|
Larry M Hutchison |
8,311,946
|
|
Travelers Companies Inc | ||
Alan D Schnitzer |
15,233,759
|
|
Brian W MacLean |
8,088,067
|
|
William H Heyman |
6,644,766
|
|
Jay S Benet |
6,391,045
|
|
Avrohom J Kess |
5,921,446
|
|
UnitedHealth Group Inc | ||
Stephen J Hemsley |
18,454,153
|
|
David S Wichmann |
17,389,976
|
|
Larry C Renfro |
14,236,877
|
|
John F Rex |
7,930,845
|
|
Steven H Nelson |
7,580,444
|
|
Marianne D Short |
6,494,869
|
|
Universal Insurance Holdings Inc | ||
Sean P Downes |
19,252,897
|
|
Jon W Springer |
8,469,821
|
|
Unum Group | ||
Richard P McKenney |
9,683,946
|
|
Voya Financial Inc | ||
Rodney O Martin Jr |
10,989,072
|
|
Alain M Karaoglan |
5,621,947
|
|
Christine Hurtsellers |
5,365,268
|
|
W R Berkley Corp | ||
William R Berkley |
12,214,097
|
|
W Robert Berkley Jr |
10,279,539
|
|
WellCare Health Plans Inc | ||
Kenneth A Burdick |
11,327,735
|
|
White Mountains Insurance Group | ||
Raymond Barrette |
21,560,378
|
|
David T Foy |
8,872,702
|
|
G Manning Rountree |
6,633,124
|
|
Reid T Campbell |
6,433,936
|
|
T Michael Miller |
6,272,832
|
New York Data for 2017
The 2017 New York data are filed with DFS by life insurance companies doing business in New York, and by health insurance companies doing business there. The data are from a statutory annual statement exhibit called "Schedule G." The schedule for life companies differs from the schedule for health companies. Because the schedules are not readily available to the public, I obtained them through a public records request pursuant to the New York State Freedom of Information Law. The Life Bureau of DFS sent me the schedules for life companies, and the Health Bureau sent me the schedules for health companies.
The schedule for life companies shows one figure for each individual. The schedule for health companies shows four figures for each individual: (1) "Salary Paid by Company and All Other Companies in Holding Company System," (2) "Bonus & all other Compensation Deferred or Paid by Company and All Other Companies in Holding Company System," (3) "Total Amount Paid by Company and All Other Companies in Holding Company System," and (4) "Amount Paid by or Amount Allocated by Company." The figure I show in this tabulation is the third of the four figures. When I obtained the 2017 data, each bureau charged a fee of $1 for sending the schedules on a CD by regular mail.
New York Compensation Data for 2017 |
||
Life Insurance Companies | ||
Aetna Life Ins Co | ||
Mark T Bertolini |
$57,828,429
|
|
Shawn M Guertin | 9,239,174 | |
Jean LaTorre | 6,231,385 | |
Thomas J Sabatino | 5,588,469 | |
Globe Life Ins Co of NY | ||
Ben Walter Lutek | 8,553,779 | |
Guardian Life Ins Co of America | ||
Deanna Mulligan | 8,014,882 | |
Lincoln Life & Annuity Co of NY | ||
Dennis R Glass | 34,666,432 | |
Randal J Freitag | 8,163,992 | |
Massachusetts Mutual Life Ins Co | ||
Roger Crandall | 6,269,018 | |
Paul Blanco | 5,228,315 | |
Metropolitan Life Ins Co | ||
Steven A Kandarian | 10,453,756 | |
New York Life Ins Co | ||
Theodore A Mathas | 20,594,949 | |
John Y Kim | 12,868,332 | |
Christopher O Blunt | 9,394,343 | |
John T Fleurant | 5,022,387 | |
Northwestern Mutual Life Ins Co | ||
John E Schlifske | 12,204,273 | |
Penn Mutual Life Ins Co | ||
Eileen McDonnell | 5,337,340 | |
Phoenix Life Ins Co | ||
James D Wehr | 6,749,750 | |
Principal Life Ins Co | ||
James P McCaughan | 14,059,569 | |
Daniel J Houston | 10,667,049 | |
Karen Elizabeth Shaff | 7,362,154 | |
Karl W Nolin | 5,601,332 | |
Luis E Valdes | 5,351,845 | |
Prudential Ins Co of America | ||
John R Strangfeld | 11,064,539 | |
Charles F Lowrey | 9,891,275 | |
Mark B Grier | 6,494,780 | |
Stephen Pelletier | 5,058,979 | |
Teachers Ins & Annuity Assn | ||
Roger Ferguson | 6,685,814 | |
Ronald R Pressman | 5,372,878 | |
Health Insurance Companies | ||
Anthem Group | ||
Joseph R Swedish | 17,098,146 | |
Peter D Haytaian | 5,054,085 | |
Brian T Griffin | 5,043,082 | |
Gloria M McCarthy | 5,006,223 | |
Eastern Vision Service Plan Inc | ||
James M McGrann | 5,024,315 | |
HIP Ins Co of New York | ||
William C Lamoreaux | 5,496,012 | |
Humana Ins Co of New York | ||
Brian A Kane | 7,678,628 | |
UnitedHealth Group | ||
Robert W Oberrender | 7,705,596 | |
WellCare Health Ins of New York | ||
Kenneth A Burdick | 8,688,648 | |
Andrew L Asher | 5,583,010 |
Nebraska Data for 2017
The 2017 Nebraska data are on a "Supplemental Compensation Exhibit" filed by all insurance companies doing business in Nebraska. The figure I show is the "Total" for each individual. Components of the "Total" are "Salary," "Bonus," "Stock Awards," "Option Awards," "Sign-on Payments," "Severance Payments," and "All Other Compensation." When I obtained the 2017 data, NDI charged a fee of $80 for sending the exhibits on a CD by regular mail.
The 2017 Nebraska data are on a "Supplemental Compensation Exhibit" filed by all insurance companies doing business in Nebraska. The figure I show is the "Total" for each individual. Components of the "Total" are "Salary," "Bonus," "Stock Awards," "Option Awards," "Sign-on Payments," "Severance Payments," and "All Other Compensation." When I obtained the 2017 data, NDI charged a fee of $80 for sending the exhibits on a CD by regular mail.
Nebraska Compensation Data for 2017 |
||
Accident Fund Ins Co of America
|
||
Elizabeth Haar |
$6,642,686
|
|
ACE American Ins Co | ||
John J Lupica |
6,100,000
|
|
Paul J Crump |
5,050,000
|
|
Acuity, A Mutual Ins Co | ||
Benjamin M Salzmann |
15,512,444
|
|
Aetna Life Ins Co | ||
Mark T Bertolini |
18,750,816
|
|
Gary W Loveman PhD |
9,815,288
|
|
Richard M Jelinek |
7,917,107
|
|
Karen S Lynch |
7,666,746
|
|
Thomas J Sabatino Jr |
7,321,633
|
|
Shawn M Guertin |
6,022,155
|
|
Allied World National Assur Co | ||
Scott A Carmilani |
23,880,597
|
|
Wesley Dupont |
5,309,124
|
|
Allstate Ins Co | ||
Thomas J Wilson |
54,184,408
|
|
Matthew E Winter |
17,455,607
|
|
Judith P Greffin |
8,152,152
|
|
Sanjay Gupta |
7,513,203
|
|
Surender Gupta |
7,033,822
|
|
Steven E Shebik |
6,659,653
|
|
Steven P Sorenson |
6,634,968
|
|
Susan L Lees |
6,582,780
|
|
American Family Life of Columbus | ||
Daniel P Amos |
15,280,454
|
|
Paul S Amos II |
6,184,321
|
|
Frederick J Crawford |
5,279,845
|
|
American Family Mutual Ins Co | ||
Jack C Salzwedel |
9,617,184
|
|
American General Life Ins Co | ||
Kevin Hogan |
6,109,879
|
|
Jay S Wintrob |
5,717,513
|
|
American Income Life Ins Co | ||
Roger C Smith |
14,343,009
|
|
Ben W Lutek |
8,553,780
|
|
Assured Guaranty Corp | ||
Dominic Frederico |
13,596,579
|
|
Atlantic Specialty Ins Co | ||
Timothy M Miller |
9,295,572
|
|
Chicago Title Ins Co | ||
Raymond R Quirk |
8,959,129
|
|
Anthony J Park |
6,097,163
|
|
Michael J Nolan |
5,858,912
|
|
Peter T Sadowski |
5,853,519
|
|
Clearwater Select Ins Co | ||
Brian D Young |
5,669,432
|
|
Doctors Co Interinsurance Exchange | ||
Richard Anderson MD |
11,726,099
|
|
Essent Guaranty Inc | ||
Mark Casale |
6,890,474
|
|
Everest Reinsurance Co | ||
Dominic J Addesso |
6,223,278
|
|
Fidelity & Guaranty Life Ins Co | ||
Christopher J Littlefield |
5,777,721
|
|
First American Title Ins Co | ||
Dennis Gilmore |
9,080,461
|
|
GEICO Indemnity Co | ||
Olza Minor Nicely |
14,541,402
|
|
Great American Ins Co | ||
S Craig Lindner |
9,726,202
|
|
Carl H Lindner III |
9,673,500
|
|
Guardian Life Ins Co of America | ||
Deanna Mulligan |
8,772,047
|
|
Hanover Ins Co | ||
Joseph Zubretsky |
5,148,547
|
|
Health Care Service Corp | ||
Paula A Steiner |
10,179,367
|
|
Patricia A Hemingway Hall |
6,487,164
|
|
Colleen Foley Reitan |
5,876,344
|
|
Humana Ins Co | ||
Bruce D Broussard |
33,361,110
|
|
Brian A Kane |
7,678,628
|
|
Insurance Co of the West | ||
Kevin Prior |
27,486,175
|
|
Ernest Rady |
7,460,080
|
|
Jackson National Life Ins Co | ||
Barry Stowe |
7,568,499
|
|
James R Sopha |
6,339,538
|
|
Paul C Myers |
6,227,860
|
|
Liberty Mutual Ins Co | ||
David H Long |
21,026,728
|
|
Timothy Sweeney |
8,287,284
|
|
Neeti Bhalla |
7,155,742
|
|
J Paul Condin III |
6,968,884
|
|
Christopher L Peirce |
5,819,868
|
|
Dennis J Langwell |
5,329,184
|
|
Lincoln National Life Ins Co | ||
Dennis R Glass |
34,666,432
|
|
Randal J Freitag |
8,163,992
|
|
Wilford H Fuller |
6,261,016
|
|
Magellan Behavioral Health | ||
Jeffrey West |
7,678,675
|
|
Dan Gregorie |
5,999,522
|
|
Massachusetts Mutual Life Ins Co | ||
Roger Crandall |
14,460,939
|
|
Paul Blanco |
5,277,246
|
|
Michael Fanning |
5,147,443
|
|
Medical Protective Co | ||
Timothy Kenesey |
5,324,898
|
|
MEMIC Indemnity Co | ||
John T Leonard |
11,340,488
|
|
Metropolitan Life Ins Co | ||
Steven A Kandarian |
10,453,756
|
|
Mortgage Guaranty Ins Corp | ||
Patrick Sinks |
6,315,629
|
|
National Indemnity Co | ||
Ajit Jain |
15,986,250
|
|
New York Life Ins Co | ||
Theodore A Mathas |
20,594,949
|
|
John Y Kim |
12,868,332
|
|
Christopher O Blunt |
9,394,343
|
|
John T Fleurant |
5,022,387
|
|
Northwestern Mutual Life Ins Co | ||
John E Schlifske |
12,204,273
|
|
Pacific Life Ins Co | ||
James T Morris |
7,722,736
|
|
Pan-American Life Ins Co | ||
Jose Suarez Suquet |
5,542,464
|
|
Penn Mutual Life Ins Co | ||
Eileen McDonnell |
5,337,340
|
|
Thomas E Daley |
5,099,635
|
|
Pennsylvania Ins Co | ||
Sidney Ferenc |
9,247,661
|
|
Steven Menzies |
9,211,854
|
|
Phoenix Life Ins Co | ||
James D Wehr |
6,749,750
|
|
Principal Life Ins Co | ||
James P McCaughan |
14,059,569
|
|
Daniel J Houston |
10,667,049
|
|
Karen E Shaff |
7,362,154
|
|
Karl W Nolin |
5,601,332
|
|
Luis E Valdes |
5,351,845
|
|
Prudential Ins Co of America | ||
John R Strangfeld Jr |
8,727,787
|
|
Mark B Grier |
7,198,970
|
|
Charles F Lowrey |
5,070,897
|
|
Radian Mortgage Guaranty Inc | ||
Sanford A Ibrahim |
9,412,799
|
|
Richard Thornberry |
6,144,254
|
|
RGA Reinsurance Co | ||
Albert Greig Woodring |
15,608,544
|
|
RiverSource Life Ins Co | ||
Lynn Ann Hopton |
17,335,404
|
|
Yvonne E Stevens |
15,366,727
|
|
Steven B Staver |
12,341,420
|
|
John R Woerner |
7,596,970
|
|
David K Stewart |
5,067,199
|
|
SCOR Reinsurance Co | ||
Mark Kociancic |
5,570,891
|
|
Security Benefit Life Ins Co | ||
Michael Patrick Kiley |
7,221,603
|
|
Standard Ins Co | ||
John Gregory Ness |
6,548,581
|
|
State Farm Group | ||
Michael Leon Tipsord |
8,502,235
|
|
Michael Steven Wey |
5,005,858
|
|
Teachers Ins & Annuity Assn | ||
Roger Ferguson |
18,674,135
|
|
Justin Kelly |
16,361,982
|
|
William Adams |
12,695,571
|
|
Jon Bosse |
11,796,431
|
|
Clark Winslow |
10,507,082
|
|
Robert Doll |
9,302,014
|
|
Ronald Pressman |
8,182,928
|
|
James Boothe |
7,320,974
|
|
Gunther Stein |
7,058,340
|
|
Virginia Wilson |
5,138,972
|
|
Transatlantic Reinsurance Co | ||
Michael C Sapnar |
8,517,759
|
|
Javier E Vijil |
8,060,576
|
|
Travelers Casualty & Surety Co | ||
Alan D Schnitzer |
15,262,488
|
|
Brian MacLean |
7,923,164
|
|
Willaim H Heyman |
6,531,523
|
|
Jay S Benet |
6,256,725
|
|
United States Liability Ins Co | ||
Thomas P Nerney |
19,652,848
|
|
Western & Southern Life Ins Co | ||
John Barrett |
7,678,251
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General Observations
There can be no assurance the data shown here are complete and accurate, for at least four reasons. First, with regard to the SEC data, I did not have a complete list of shareholder-owned public companies in the insurance business, and some therefore may have been omitted.
Second, with regard to DFS data, the Schedule G for life companies may show compensation attributable only to that one company. In other words, on the schedule for a company that is a member of a group of companies, the figure shown for an individual may be compensation from only that one company rather than from the entire group of companies.
Third, with regard to NDI data, some groups of companies allocate the compensation for individuals among the members of the group. Thus the figures for individuals need to be added. There can be no assurance that I found all the members of those groups. Indeed, in some instances members of the group may not be licensed in Nebraska and therefore do not file the exhibits.
Fourth, an individual's compensation may differ among my three sources. Aside from the third problem mentioned above, the three sources have differing rules about precisely what must be included in an individual's compensation. For example, see the differences between DFS data and NDI data for Teachers Insurance & Annuity Association. I asked DFS to comment on the differences, but received no reply.
Second, with regard to DFS data, the Schedule G for life companies may show compensation attributable only to that one company. In other words, on the schedule for a company that is a member of a group of companies, the figure shown for an individual may be compensation from only that one company rather than from the entire group of companies.
Third, with regard to NDI data, some groups of companies allocate the compensation for individuals among the members of the group. Thus the figures for individuals need to be added. There can be no assurance that I found all the members of those groups. Indeed, in some instances members of the group may not be licensed in Nebraska and therefore do not file the exhibits.
Fourth, an individual's compensation may differ among my three sources. Aside from the third problem mentioned above, the three sources have differing rules about precisely what must be included in an individual's compensation. For example, see the differences between DFS data and NDI data for Teachers Insurance & Annuity Association. I asked DFS to comment on the differences, but received no reply.
Available Material
To provide a frame of reference beyond the three posts showing executive compensation data for 2015, I am offering a complimentary 10-page PDF containing the final executive compensation tabulation in the Forum. It appeared in the July 2013 issue and showed data for 2012. Email jmbelth@gmail.com and ask for the executive compensation tabulation in the July 2013 issue of the Forum.
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Email: jmbelth@gmail.com
Blog: www.josephmbelth.com