Labor Insurer ULLICO Names Acting President
By Sherie Winston
Edward Grebow, the former president of Sony Electronics Broadcast and Professional Co., has been named acting president of ULLICO Inc., the embattled union-owned insurance and investment company.
Grebow’s appointment on May 22 comes just two weeks after ULLICO shareholders elected an expanded board of directors and selected laborers’ union President Terence M. O’Sullivan as new chairman and CEO of the Washington, D.C.-based company.
O'Sullivan replaced Robert A. Georgine, the former long-time president of the AFL-CIO Building and Construction Trades Dept., in the top ULLICO jobs. The company and Georgine have been under federal and state investigation for more than a year for stock transactions.
A ULLICO spokesman says Grebow has a "defined role and a defined charge to accomplish." Grebow, who is expected to stay in the post for about six months, will develop a business plan for the company and oversee day-to-day operations. ULLICO officials will continue their search for a permanent president.
"Ed Grebow will bring to ULLICO the experience, enthusiasm and top-notch skills we need to face immediate challenges and to develop a long-term plan to ensure ULLICO’s ability to continue serving the working men and women of the union movement," said O’Sullivan.
Grebow is also president of the Metropolitan Television Alliance, a group of New York area broadcasters seeking a site to rebuild the TV and emergency services transmission tower that was destroyed on top of the World Trade Center in the Sept. 11, 2001, terrorist attack.
Besides locating potential sites, Grebow is supervising the design and construction of a new tower, which would be the world’s tallest stand-alone structure.
Before joining Sony, Grebow worked at CBS, Cheron Corp., Morgan Guaranty Trust Co. and the Bowery Savings Bank.