A viatical settlement is the sale of a life insurance policy by the policy owner before the policy matures. Such a sale, at a price discounted from the face amount of the policy but usually in excess of the premiums paid or current cash surrender value, provides the seller an immediate cash settlement. Similar to reverse mortgages, viatical settlements involve insured individuals with a life expectancy of less than five years. In countries with high health care costs (such as the United States), this is a practical way to pay extremely high health insurance premiums and other senior care expenses that severely ill people face. Some people are also familiar with life settlements, which are similar transactions but involve insureds with longer life expectancies (two to fifteen years). - From Wikipedia and other sources 5/2007President and CEO of IntelliTrack® Inc. Announces Retirement
Hunt Valley, MD (PRWEB) January 24, 2008 -- IntelliTrack, Inc. president, James "Boony" Budniakiewicz and its Board jointly announced today that James Budniakiewicz is retiring.
"Boony has put a substantial investment in the success of IntelliTrack and we will miss him. The Board intends to continue investments into IntelliTrack intellectual property, resources, and the continuing growth of new products," said IntelliTrack's Chairman of the Board.
James Budniakiewicz will remain in his role until the new president is well situated in the operation. The transition is expected to last up to six months.
"It's been over five years since we started IntelliTrack. We began with just 6 people and now we are 26 strong. IntelliTrack infrastructure is now sound and our brand name remains strong. I feel that now is the opportune time for me to explore some personal ventures," said James Budniakiewicz.
The Chairman of the Board added, "The IntelliTrack core mission will remain the same. We will continue to provide quality AIDC software to our targeted industries. But we also plan to increase the breadth of our products."
The Board has commenced a search for a replacement and plan to announce the new executive soon.
About IntelliTrack, Inc.
IntelliTrack Inc. is the leading developer of affordable software for barcode, RFID, batch and WiFi (RF) data collection. Applications for the software include inventory control, warehouse management, and asset tracking. IntelliTrack software runs on mobile computers from the industry's leading hardware providers including Motorola, Symbol Technologies, Datalogic, Intermec, LXE, Hand Held Products (HHP), and Unitech. More than 13,000 copies of IntelliTrack software have been deployed on over 40,000 mobile computers and wireless terminals worldwide. For further information visit www.intellitrack.net.
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