And while Prosser says he has covered some of the debt Social Security's covered for Intelco, that organization is still very much in the red on the Intelco matter. And that's why it must be re-assuring to know that the CEO who was there when SSB got into the Intelco mess, will be there to get it out, if it does get out.
Narda Garcia was yesterday selected by Social Security's board of Directors to serve as CEO of social security for another 5 years. Chairman Yasin Shoman confirmed that she was selected from a field of four applicants. Shoman said that he was disappointed that they did not have more applicants for the widely advertised post and he was additionally slightly surprised that no one from the insurance industry applied considering that Social Security is an insurance scheme. Shoman said that of the applicants, the review panel felt that Garcia was clearly the best choice.
Garcia first came into the post as political appointment in 1999. Since then, as a product of Social Security reform, the post can no longer be politically appointed, it has to be an open selection put out to the open job market and Mrs. Garcia now has the distinction of being the first CEO sanctioned by the board of directors.