Word: pension
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Dates: during 1990-1999
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Returning to Moscow in the spring of 1972, he spent two years working with delegations from French-speaking countries, then joined a state-run law firm that handled inheritance and pension cases for Soviet citizens with relatives abroad. "He was not much of a lawyer," recalls a former associate. "He disliked responsibilities and shirked any job that might entail them, but he loved to be in the thick of things and loved making public speeches." What he did have was the gift of gab. "Boy, could he talk!" says another colleague. "Whenever he stood up, there was a whisper...
...benefits include employer contributions to pension plans and medical, dental and life insurance; "other compensation" encompasses such items as loan interest subsidies and taxable expense...
...biggest of the new Baby Bell telephone companies, to reverse plans to lay off 22,000 workers. Under a new contract, Nynex will not lay off anybody over the next four years; it will try instead to induce workers to retire early by offering them six years of extra pension benefits...
...upgrade to staff pension plans and corresponding reduction in faculty pensions. Some professor pensions dwarf staff pensions by such a margin that the University could be in violation of antidiscrimination laws...
...paid for largely with junk bonds issued by Drexel Burnham Lambert's Michael Milken, Hurwitz visited Pacific's mills at Scotia. "There's a story about the golden rule," he told employees. "He who has the gold rules." Then he drained $55 million from the firm's $93 million pension fund and, with the remaining $38 million, bought annuities from an insurance company that collapsed. (The U.S. Labor Department is suing; so far, Pacific has made good on retirees' pensions; two weeks ago, Maxxam agreed to a $52 million settlement of a suit by shareholders dissatisfied with the takeover...