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...example, about 80% of Harley-Davidson's pension assets were invested in equities at the end of last year. Johnson & Johnson's (79% equities) and Exxon's (75%) funds have also been bruised. But the pension pain may be most acute for smaller outfits, some of whose obligations amount to more than 100% of their market capitalization. That category includes companies like Circuit City, whose obligation now amounts to 336% of its market capitalization, OfficeMax (271%) and Goodyear...

Author: /time Magazine | Title: Pension Funds Weakened By Stock-Market Decline | 10/31/2008 | See Source »

...contribution plans in place of defined benefits, because doing so reduces the potential scale of their future liabilities. The shift means firms will assure you, the employee, of how much they are putting into your retirement fund instead of promising how much you'll end up with. That latter amount will depend on how your investments perform rather than on the scope of your employer's pledge. "When my father was working, he knew what he would retire on," says Williams. "Now the market risk will be borne on the shoulders of employees...

Author: /time Magazine | Title: Pension Funds Weakened By Stock-Market Decline | 10/31/2008 | See Source »

...prices. In Los Angeles, and even in Miami, there is evidence that the housing market is lifting its head off the deck, even as foreclosures continue to pile up and prices edge downward. Some banks are grudgingly agreeing to short sales--that is, selling below the mortgage amount--and doing some workouts. For owners, buyers and policymakers, such signs of a recovery raise a big question: Will a recession that is gaining momentum break through housing's floor again? In other words, is this real estate's dead-cat bounce...

Author: /time Magazine | Title: Is Housing Nearing the Floor? | 10/31/2008 | See Source »

...apparent, it is little known that Nadia Boulanger was the first woman to conduct both the Boston Symphony Orchestra and the New York Philharmonic in the 1930s. “[Conducting these orchestras] is an impressive feat,” Craft says. “Considering the small amount of female conductors even now, it is remarkable that she was able to conduct such prestigious orchestras, especially during that time.”Boulanger’s influence is just one example of the transatlantic musical connections that were taking place throughout the last century. “Crosscurrents?...

Author: By Marissa A. Glynias, CONTRIBUTING WRITER | Title: Conference on a Conductor's 'Crosscurrents' | 10/31/2008 | See Source »

...also tried to recapture the exact ways Harvard Law School students sing and dance.”Later, O’Keefe was more earnest about the College’s impact on his life and career. “Harvard doesn’t focus a vast amount on the ‘how’—it focuses on the ‘what.’ It’s hard to major in playing a violin or acting or something like that here,” he said. “Instead they want...

Author: By Ali R. Leskowitz, CONTRIBUTING WRITER | Title: Elle Woods Visits Her Alma Mater | 10/31/2008 | See Source »

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