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That's why benefits are the next big target. For every employee who makes $75,000, a company typically spends $30,000 more in benefits. So for employees who still have jobs after cost-cutting layoffs, the potential for more pain lies ahead. Health insurance is traditionally the revenue drain that budget hawks focus on, with costs averaging $10,000 per employee (about $6,000 for singles and $14,000 for those supporting a family). "I expect that by January, the number of people without health insurance will rise above 50 million as companies scale back," says Bruce Raynor, president...
...United Auto Workers' voluntary employee beneficiary association (VEBA) - thus getting a $50 billion unfunded liability off its books - might then be in jeopardy, as would the union's health benefits. The VEBA has already saved GM nearly $5 billion in the past quarter, and still greater benefits lie ahead...
...Coke also looked ahead with greater acuity. Analyst Erin Ashley Smith of Argus Research, an independent New York City research firm, says Coke impressed investors with its presciently conservative outlook on the economic climate, while Pepsi started the year with overly optimistic assessments. Smith says Pepsi has had some operational problems as well, noting that the company has periodically had a tough time meeting demand for Gatorade and keeping store shelves stocked - an uncharacteristically subpar performance from a company that prides itself on operational excellence...
...Leaders We Deserve Challenging times require leaders who are bright enough to think creatively [Oct. 27]. I completely agree with Michael Kinsley that America needs a smart President for the tough years ahead. But voters in many Western democracies, Ireland included, have a tendency to shy away from politicians who are far more intelligent than themselves. Adlai Stevenson was one of the best examples of this. As for any politician completely understanding the global financial mess, well, sadly Einstein is not on any ballot. Robert Liffey, DUBLIN...
...know, it's a very - it's a simple question. You would think I could answer it. I can't even - it's a distraction. It's a distraction. And as I said, Senator Obama tells us to keep focused. And as Michelle likes to say - not getting ahead of ourselves." - When asked by CBS' Katie Couric in August how she would feel if Obama won the presidential election (CBS Evening News with Katie Couric...