Word: johnson
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...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 University School...
...firms' holdings at the start of the year were in equities. Those firms that bet most aggressively on stocks have been especially hard hit. For 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...
Silence. Dead silence. This is bad. What's going on? Have Martians invaded Earth? Can't be, right? But it's on the radio, and the radio doesn't lie. Is that smoke I smell? Why is old lady Johnson screaming next door? Holy hell...
...During the referees' preseason training camp this September, the general demanded discipline. He told his troops that even the most trivial rules would be enforced. For example, the refs have long ignored the rule that requires them to wear black shoes with no white Nike swooshes or other logos. Johnson will be scoping their feet. Over the past few years, officials have relied on arena security to let them know when a team is going on the court to warm up, ignoring the edict that they stand near the sidelines before the players make their way out. This year, there...
...some degree, of course, Johnson is enjoying the honeymoon phase of his NBA career. How many times have we seen players break public bread with a new coach after his hiring only to toss it in his face a few months later? And at the end of the day, fans don't care if Mother Teresa is in charge of the refs: if Joey Crawford misses that goal-tending call at the end of a Lakers game or sends Kobe to the showers early, all of Los Angeles will be calling for his head. The refs need more than...