Moreton & Company's Blog

How much do you know about events that have happened since Moreton & Company was established in 1910?

1. There have been 18 U.S. presidents since 1910. How many can you name?
2. How many states have been added to the U.S. since Moreton & Company was founded?
3. Which of these is the only event to occur prior to Moreton & Company’s creation in 1910?
   • Walt Disney animates his first Mickey Mouse short cartoon.
   • Babe Ruth hits his famous “called shot” home run at Wrigley Field.
   • World War I breaks out in Europe.
   • Henry Ford produces his first Model T automobile.
4. In 1910, the earth passed through the tail of this famous comet, prompting terrifying reports that “the cyanogen gas would impregnate the atmosphere and possibly snuff out all life on the planet.”
5. What homophonous salt company was also incorporated in 1910?
6. How many wars has the U.S. participated in since 1910?
7. What was the population of the United States in 1910?
   • 76 million
   • 92 million
   • 106 million
   • 123 million
8. Which famous badge-earning youth organization got its start in 1910?
9. How much would a bottle of Coca-Cola cost you in 1910?
   • A penny
   • A nickel
   • A dime
   • A quarter
10. Name this famous Utah landmark, which became a national monument in 1910.
    

Curious about the answers? Check the comments section.

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Rob Callister is one of Moreton & Company’s top Property & Casualty producers. Voted Moreton & Company’s Producer of the Year in 2006 for his excellent work with his clients.

1. When did you start working for the firm?
   I started with Moreton in May of 1986. I wish that I had kept a diary of my 34 years at Moreton. I think it could have been a funny human interest story.
2. What was the company like when you started?
   In contrast to today, the firm was small and very low-tech. It’s hard for the younger employees to imagine it, but there was no voicemail, no cell phones, and no email—the producers didn’t even have computers at their desks. When we purchased our first fax machine at Moreton, I remember I thought the business would be revolutionized.
3. In what ways has the company changed since you started?
   Other than the obvious technological changes and increase in number of employees, I would say the firm has changed most in the dramatic increase in developing expertise and service capabilities to more appropriately serve clients in virtually all areas of the business.
4. What have been some of the highlights of your career here?
   Among the highlights of my career are working with the State of Utah for over 20 years, working with Intermountain Health Care for 24 years, working with Questar for 20 years, Myriad Genetics since the day it was formed, and numerous Long Term Care and Rehabilitation Hospital clients. Participating in the 2002 Winter Olympics was also an unforgettable experience.
5. What’s been one of the best things about working at Moreton?
   The best thing about working at Moreton relates to the people who work here. I hear stories about firms with toxic work environments, and then I count my blessings. I really like all the people at Moreton.
6. Tell us about one of your most memorable experiences with a client.
   I was a new producer at Moreton. The year was 1986. Craig Smith had given me an assignment as part of my new business prospecting to create in my own words what he referred to as a “Why Fred A. Moreton & Company?” presentation. I went to work on this project with energy and excitement. I wrote it—then re-wrote it 10 or 12 times—memorized it, and practiced it in front of the mirror at home at night until everything about it was, well, “perfect.” Now it was time to take my magnificent piece of work out on the road—first to a large publicly held power cogeneration company. The president of the company was a neighbor of mine, and I felt very secure about my chances. For several days before the appointed time, I reviewed everything I could find about the company and practiced my presentation until I could have done it in my sleep. When the time arrived, I grabbed my visual aids, took a look at my watch, and launched into my inaugural presentation. About five minutes in, I heard an odd “snort” from the other side of the desk—Mr. Pratt had not only fallen soundly asleep, but he was beginning to snore. I looked over at Craig, and Craig just shrugged his shoulders. When I got back to the office, Idecided to toss my entire presentation and go in a different direction.
7. What positions have you held at Moreton? What is your current position?
   Current position: Senior Vice President
8. What is the most enjoyable part of your job?
   The most enjoyable part of my job is solving clients’ problems, teaching clients, creating a better program or solution to a risk management issue.
9. What is something most people wouldn’t know about you?
   During the summer when I was between 8 and 11, my Mom used to drop me off at the Hidden Valley Country Club in Reno, Nevada, where I would spend the day playing tennis. There were a lot of entertainers who would come to perform at night in the casinos, and during the day many of them would come to the country club to sit in the sun, golf, or play tennis. Often they would not have tennis partners, so I ended up playing tennis with a number of these entertainers, including Pat Boone, Perry Como, and many others. It was strange because they would often do their voice exercises while they were playing—it was very distracting. I played Nancy Sinatra once when I was 10 years old—she said I was hot.

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The COBRA premium subsidy program, passed last February as part of the American Recovery and Reinvestment Act of 2009 (ARRA) to temporarily assist terminated employees continue employer health benefits, was extended by Congress and signed into law by President Obama.

The new legislation extends the eligibility window to those involuntarily terminated through February 28, 2010, and extends the period of the subsidy from nine to fifteen months.

Previously, employees electing COBRA had to pay up to 102% of the premium cost. But effective March 1, 2009, ARRA provided a subsidy to involuntarily terminated employees equal to 65% of the premiums for up to nine months. This new legislation extends the nine-month period of the subsidy to fifteen months. In addition, this new legislation provides a retroactive period of 60 days (commences upon enactment) for payment of premiums for eligible individuals whose subsidy period expired on November 30, 2009.

Additional analysis is available to Moreton & Company clients on our website. For more information, contact your broker directly or call our main office at 801.531.1234.

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Happy New Year! It’s a big one for us—our centennial year! We are thrilled to be celebrating this landmark anniversary and would like to express our deep gratitude to our clients for choosing to work with us for so many years.

As part of our celebration, throughout the year we’ll be posting a number of stories about Moreton—our founding, history, employees, and capabilities. Here’s a bit of Moreton-related trivia to start things off.

• We were founded in 1910 by J.B. Moreton.
• When we were founded, we had a four-digit phone number: Wasatch 4472.
• Our offices were located in downtown Salt Lake: 206–207 Boston Building, considered one of Utah’s first sky scrapers.
• We got our start as a bonding agent for Wasatch Front contractors and quickly expanded to offer fire, automobile, plate glass, parcel post, life, accident & health, fidelity & surety bonds, burglary insurance, liability, workmen’s compensation, steam boiler, and elevator insurance.
• Some of our clients have been with us for more than 60 years.

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From all of us at Moreton & Company, we hope you have a wonderful holiday season and a happy and safe new year.

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The Senate voted early Monday morning to end debate on their health reform bill. The Senate will vote on the bill itself just before Christmas, with passage considered very likely. The House passed its own version of reform earlier in the fall. As the next step, a Conference Committee will determine which aspects of each proposal should go into a final bill, to be passed on to the President for signature.

The provisions appearing in both bills are most likely to be included in the final bill after reconciliation, as highlighted in the discussion below. Some aspects of health reform remain “to be determined”— a new federal agency is to be established. The new agency will set standards for the minimum benefit plan an employer must offer, among other issues. The rules set by that agency will affect and alter current employer health plans and their taxation. Employers who do not currently offer plans will be the most affected by reform overall, but all employers will face changes. For example, the agency’s actions may disallow current plan designs in the future, including health savings accounts (HSAs), even though Congressional proposals do not make these programs “illegal.”

Additional analysis is available to Moreton & Company clients on our website. For more information, contact your broker directly or call our main office at 801.531.1234.

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The Internal Revenue Service recently announced its 2010 adjustments and limits for retirement plans and other benefits. As illustrated below, few limits were changed from 2009. Limits of particular interest to Moreton & Company clients are listed below:

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Homeowners insurance premiums are not based on the current resale value of the homes, but on the cost to replace them.  As housing prices plummet, the cost to rebuild a home is on the rise.  Reed Construction Data estimates an increase of 4.2% on construction costs from 2007 to 2008, up from the 2.8% estimate from 2006 to 2007 for the same period.

Insurance to value is important because it allows homeowners to have adequate premiums and have adequate reserves to pay claims.  Consider if your home is insured to value and give us a call today.

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It is that time of year again. Winter has arrived. As cozy and warm as a nice fire might sound, remember the hidden danger that may be lurking in your home: carbon monoxide.

Carbon monoxide cannot be seen or smelled—but at high levels, it can kill a person in minutes. According to the home safety council “nearly 70% of people burn fuel to heat their homes and more than two-thirds of those do not have carbon monoxide detectors.”

Below are some tips on how to keep your family safe this winter:

1. Purchase a carbon monoxide detector. The unit should be listed by an independent testing lab such as UL, ETL, CSA or another lab.
2. Use gas appliances properly. If you have a gas range or oven, don’t try to use it to heat your home.
3. Never use a charcoal (or any other kind of) grill indoors! The amount of carbon monoxide put out by grills is extremely high.
4. Have your heating system serviced yearly. Before you fire up the furnace for the first time, have a qualified technician perform an inspection.
5. Have chimneys and flues cleaned. Even if carbon monoxide is not a problem, a dirty flue chimney or flue can be a hazard in other ways.
6. Make sure you open your damper before using your fireplace.
7. Never idle your car inside the garage.

And most important, never ignore symptoms, particularly if more than one person is feeling ill.

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At this point in time the “no news is good news” adage has taken on a whole new meaning. A day without hearing another bank has gone under, or another company expects large lay offs, or another company needs a government bail out, seems a little less bleak.

Then you get your 401(k) statement or your investment summary for the month, the notice that the balloon payment on the house arrives, you stop to fill up your car, a quick stop at the grocery store, a visit to the doctors for something you thought was minor, and the clouds come rolling back in.

The questions that have to be going through everyone’s minds now are things such as:

• How are we going to make it through these turbulent times?
• How do we protect our remaining assets?
• Will we ever be able to afford to retire?
• If something were to happen to us would our loved ones be taken care of?

So what do you do now?

There are several things you can do now and you don’t have to be wealthy to start a plan to protect yourself and your family. To begin with:

1. Ask for guidance: The financial services professionals at Moreton Financial Solutions (MFS) can help you formulate strategies to address pressing financial issues.
2. Cover all the bases: Do you have a will? Do you need a power of attorney or a trust? Do you have a plan?
3. Reduce any financial leverage you have, begin saving
4. Set priorities

Please call Richard Tanner or Scott Ulbrich if you have questions.

Ric Tanner: 801-715-7074, rtanner@moreton.com
Scott Ulbrich: 801-715-7032, sulbrich@moreton.com

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