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However, the analyst was surprised on management saying that Exchange revenue synergies are lagging expectations at this point. The company had expected $100 million – $400 million of exchange-related revenue synergies and is now targeting $100 million – $250 million. This means that revenue synergies other than exchanges are forecasted to be around $275 million, which Shanker do not believe achievable. “It is also possible that middle-market exchange sales further decline as competitors seek exchanges outside of Liazon. We have our doubts regarding whether the other segments can make up for this lag,” Shanker highlighted. The analyst also warned that larger distribution partners could cease to do business with Liazon, while the wholesale business may feel the pinch due to BB&T’s acquisition of Miller peer Swett & Crawford. Shanker believes organic revenue growth will struggle to exceed the low-single digits in the near-term as well as over the long-term. Shanker said the third quarter has a tough compares versus last year’s organic revenue growth of over 8 percent in the legacy Willis Capital, Wholesale, and Reinsurance segment. Moreover, the analyst highlighted that the second quarter revenue growth faces the headwind of a $40 million one-time gain recorded last year related to a poaching lawsuit against competitor JLT. “Those revenues will act as a headwind on margin growth in 2Q17, but, more importantly, argues that base revenue numbers in 2016 are overstated by 50bps,” Shanker elaborated. Further, Shanker expects revenue growth in 2017 and 2018 to be strained by departure of talent from Willis Towers Watson largely to competitors over the past two years and BB&T’s acquisition of Swett & Crawford.
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Police said 49-year-old Angela Eubanks, of Waukee, was found in the vehicle, which had been in the parking lot for seven to 10 days. Investigators said there is no sign of traumatic injury. “I couldn’t imagine how or why this would have occurred,” said Dr. Earl Kilgore, director of community support at Broadlawns. Police are still waiting for toxicology results to determine the cause of death. Des Moines police Sgt. Paul Parizek said it’s an unusual case. “It’s not something we see often,” Parizek said. “Even in criminal cases, very rarely do we find a body in a car.” Parizek said Broadlawns security footage has provided some information. “We know how she got there,” Parizek said. “We know (how) the van got there.http://rockscarlettreynolds.prosportsmall.com/2016/08/30/some-background-guidance-on-speedy-plans-in-interview
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