Word: dumps
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...Mullin, the former chairman and CEO of Delta Air Lines. Under Mullin's stewardship, Delta killed the defined-benefit pension of its nonunion workers and replaced it with a less generous plan. Now, little more than a year after he retired, the airline is in bankruptcy and can dump its pension obligations. But you need not fret about Mullin. On his way out the door, he picked up a $16 million retirement package. It's based on 28.5 years of employment with Delta, at least 21 years more than he worked at the airline...
...reality, the deficits in many cases are worse than the published data suggest, which becomes evident when bankrupt corporations dump their pension plans on the PBGC. Time after time, the agency has discovered, the gap between retirement holdings and pensions owed was much wider than the companies reported to stockholders or employees. Thus LTV Corp., the giant Cleveland steelmaker, reported that its plan for hourly workers was about 80% funded, but when it was turned over to the PBGC, there were assets to cover only 52% of benefits--a shortfall of $1.6 billion to be assumed by the agency...
...hope Bill Clinton doesn't get any ideas from Philippine President Fidel Ramos, who will auction as a "relic" the lump of cholesterol that doctors recently removed from his right carotid. Proceeds will go to Smokey Mountain--the big garbage dump that is now the site of low-cost housing. No word on whether Sotheby's is interested...
...woman. That’s mildly interesting. And yet, a tad unnecessary. If this is meant to be as simple as “you ignore bad stuff whenever you think it’s coming and that’s a bad thing,” she should dump Armstrong and find a new boyfriend. And if it is meant to be a reference to the weather, well, that’s just weird. Plus, she needs a new weathervane...
...really live up to our end of the bargain there,” Brady said.San Diego’s Drew Brees shone throughout, however, going 19-of-24 for 248 yards and two touchdowns. Brees played the role to which Brady is accustomed, mixing in screens and dump-offs to pick apart a secondary thay was missing safety Rodney Harrison and cornerbacks Duane Starks and Tyrone Poole. Harrison, who suffered a knee injury last week against Pittsburgh, will be missed for the remainder of the season.“It’s not only the physical things [Harrison] does...