Word: benchmarked
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...step forward that our recommendations represent by instituting a policy of wage parity between direct and outsourced employees and raising starting wages above $11.30 per hour until contracts are renegotiated. In our view of our committee’s data, a wage of $12 per hour is a minimal benchmark...
Phillip Godfrey was thrown into a wall on the 55th floor of 1 World Trade Center when the first plane hit. A seminar on the logistics of trade with Mexico had just begun, and it was Godfrey's job as a Benchmark Hospitality employee to help set up. Now Godfrey, 43, asked Jesus not to let the floor give way. When it steadied, he focused his attention on getting everyone out. Like many of those at the Trade Center that morning whose names we never heard--people who weren't fire fighters or cops--Godfrey thought of others first...
Since Sept. 11, strange things have happened to Phil Godfrey. Hailed as a hero, he also lost his job when Benchmark started layoffs. He has visited ground zero three times, trying hard to weep, but he can't. People have said he did amazing things that he didn't do: hoist a woman down the stairs, give someone a $50 bill to get home. Instead, he did the simple work of a man who has learned that, as he says, "we need each other." He is reminded of that every Sunday at Harlem's Kelly Temple Church...
...Chairman Alan Greenspan and company have chopped the benchmark federal funds rate 11 times this year, to 1.75%. In the last recession, the rate fell only to 3%. "This is unlike anything we've seen in the postwar period," says economist Stephen Roach at Morgan Stanley. Recessions that spring from manic business overbuilding, such as this one, were more common before World War II and proved then to be far more difficult to correct, lasting on average about twice as long as recessions caused by Fed rate hikes, Roach notes...
...funds are created equal. Those heavily concentrated in telecommunications bonds have been beaten up the worst. Examples include the 26% slide so far this year in the Morgan Stanley High Yield Fund and the 19% drop in the Invesco High Yield Fund--at a time when the junk-fund benchmark is up modestly. Scott Berry, an analyst at Morningstar, advises staying away from such funds because most telecom bonds will remain depressed. Two of his favorite funds are Northeast Investors Trust and Pimco High Yield, which have shied away from telecom bonds and, in Pimco's case, kept some investment...