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...past, the IBMs and GEs of the world have not had to worry about underfunded pensions," says Williams. Now, though, successful firms with undervalued obligations may have to accumulate additional cash, amid the credit crunch, just to prop up their pension accounts. That's in part because evolving accounting standards - including those established in the Pension Protection Act of 2006 - prevent companies from getting too far underwater on their obligations to retirees. Public pensions have also been hit hard. State and local governments' pension funds support some 27 million Americans, and many have lost a fifth of their value this...
...Sung, who is also a Crimson Arts Columnist, strolls through the fabric store’s aisles and aisles of multi-colored buttons and faux-fur. Despite the one-day time crunch, Sung is the essence of cool. Dressed in a casual white button-down and gray wool sweater loosely tied around her waist, Sung slings a CVS bag filled with Kraft Easy Mac on one arm, and brown leather handbag across the other...
While Guest may have felt a time crunch, money isn’t an issue. At the register, armed with 5.4 pounds of used clothing, Guest manages to spend $5.40 out of the $24 limit. The pound goes for only $1.00 on Fridays...
...with a hint of downtown New York,” Sung says. Think Ralph Lauren with a twist. Sung, who is also a Crimson Arts Columnist, strolls through the fabric store’s aisles and aisles of multi-colored buttons and faux-fur. Despite the one-day time crunch, Sung is the essence of cool. Dressed in a casual white button-down and gray wool sweater loosely tied around her waist, Sung slings a CVS bag filled with Kraft Easy Mac on one arm, and brown leather handbag across the other. It is this personal sense of simplicity...
...government's money directly, but in the case of Morgan Stanley and Goldman Sachs, they were facing a severe crunch," says analyst Brad Hintz, who covers financial firms at Sanford Bernstein and is a former chief financial officer of Lehman Brothers. "Had it not been for the government's help in refinancing their debt, they may not have had the cash to pay bonuses." When asked, the Treasury would not comment directly on Wall Street's bonus plans, though spokeswoman Brookly McLaughlin did reiterate the bailout's intent. "There is broad agreement that the Treasury's capital purchase program...