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...While the revenue of state and local governments are falling, their obligations are not. On average, states have funded only 83% of what they owe or will owe to their retired workers. Many states have done a much worse: West Virginia, Road Island, Connecticut and Oklahoma all have less than 60% of their retiree benefits paid for. "The number of state funding ratios at the low end is startling," says Peter Hayes, who heads BlackRock's municipal bond management committee. "The prospect for even greater liabilities is a reasonable scenario if the country becomes trapped in a prolonged recession...
...recent months, Nitschke has become an increasingly visible - and divisive - figure in Britain despite living in Australia. In October, he provoked outrage by holding a workshop in London, attended by 50 people, on how to commit suicide. A second workshop in Bournemouth was canceled after local authorities intervened. And on March 30, Nitschke joined historian and Holocaust denier David Irving as one of the very few speakers to have their invitation to debate before the Oxford Union revoked. Fellow panelists in a planned euthanasia debate had refused to speak alongside him. (Read a TIME story on Irving...
...this strength-from-weakness strategy could hurt Beijing. Time abroad could distract China's leaders from their pressing domestic problems - for all its sophistication, the Chinese Communist Party has failed to develop any effective local troubleshooters other than Wen. For years, moreover, Chinese nationalists have been calling for exactly a tougher line toward the West. Now, Beijing's new aggressiveness overseas could embolden the nationalists - a trend that would alienate China's neighbors...
...crescendo in February when Harvard announced that it would be slowing construction of its Allston Science Complex, which has been slated as the first step towards realizing the University’s 50-year development framework. The slowdown left an especially bitter aftertaste in the mouths of local residents and some City officials, who say they sanctioned an accelerated approval timeline for the project only because the University had insisted that the complex was vital to furthering life-saving stem cell research. Now, with the University planning to temporarily house the Harvard Stem Cell Institute in its existing Cambridge campus...
...structuring of the BRA’s authority. “Let the community make the tradeoffs.” Proponents of the current structure add that the community has the chance to offer its say through the Harvard Allston Task Force, an advisory panel of local residents appointed by the Mayor to facilitate discourse between the University, City, and the community at bi-weekly meetings. But the Task Force is vested with no legal authority and is often restricted to examining concerns explicitly tied to Harvard’s development plans. “The Task Force...