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Remember those defined-benefit programs through which companies promised a certain amount every month to retirees? The market crash may be dealing that already waning concept a final, fatal blow. A new report from Goldman Sachs' Global Markets Institute illustrates that massive equity losses have resulted in S&P 500 companies' pension funds, which had been overfunded at the start of the year, fading so fast that they are now underfunded as a group. Instead of holding 108% of the assets they were promising to provide to retirees, they now hold just 91% (and falling...
...appropriately dubbed "Pension Palpitations" report details, the S&P 500's pensions are now collectively underfunded by at least $115 billion. The problem stretches far beyond the finance sector. Five of the companies with the highest dollar amount of pension underfunding, according to the report, are Raytheon (underfunded by $1.6 billion), Johnson & Johnson ($1.5 billion), ExxonMobil ($1.4 billion), Macy's ($980 million) and Alcoa ($950 billion). "This is affecting the broad swath of companies that make up the fabric of what we call the 'real economy,'" says Mark T. Williams, a risk-management expert and finance professor at the Boston...
...animal product, even if it isn't food, but like any lifestyle choice that ends in "-ism," there are plenty of people who cheat. The vitamin B12 is found almost entirely in animal products, so many vegans eat fortified food or take a vitamin to get the right amount. And while American vegetarianism has broken free of its philosophical and religious roots, becoming an accepted health choice - many restaurants offer vegetarian options and most dinner party planners now ask "is anyone vegetarian?" before planning the menu - veganism is still tied to the animal-rights movement and is out there...
...spend $2.1 trillion on healthcare. That’s obviously an unbelievable amount of money,” Jha said. “But [healthcare providers] don’t value patients’ opinions as much as they should, and this data changes the ball game...
...rock our 17th-century insignia. For the fall of 2008, Harvard participated in Victoria’s Secret “Pink” limited edition collegiate line, requiring the Harvard trademark office to allow the panty company permission to use the Ivory Tower logos on a limited amount of goods. Harvard allows pretty much anything from glassware to backpacks to be licensed, but obtaining rights to the trademark is not easy. In order to acquire trademark licenses, companies and individuals must go through a procedure that includes paying royalties for Harvard items sold, submitting sample products, and joining...