Word: pension
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Disney insists the measure addressed the issues: "The directors feel they absolutely did listen" to shareholders' concerns, says a source close to Disney's board. But many Eisner critics--including several large pension funds--say the large vote against Eisner should have led to his ouster. "Disney needs to do more than say it changed the titles on the doors," says Pat Macht of the California Public Employees' Retirement System, which owns 9.9 million shares of the company. Roy Disney, one of the chief dissident shareholders, believes the Philly split amounted to another Eisner coup: "Knowing Michael...
...activists won't say is that in some ways it's better to be single. For instance, if a bureaucrat is determining whether you can get Medicaid, he is allowed to consider how much money your spouse makes. A gay man could get Medicaid--or a veteran's pension or a student loan or a crop-support payment--regardless of his partner's income. At the other end of the economic spectrum, the law prohibits Senators' spouses from accepting gifts worth more than $250 a year. But if, say, a Senator left his wife for a man, the new boyfriend...
...fare carriers have banded together to oppose a move in Congress to help out the industry's giants, including bankrupt United Airlines. TIME has obtained a copy of a letter from the five airlines to the Bush Administration in which they say that a bill to provide special pension relief to the major carriers (American, Delta and Northwest would be the main beneficiaries, along with United) is "selective subsidization" and "the worst form of intervention that wastes limited public funds and harms consumers." The CEOs of AirTran, America West, Frontier, JetBlue and Spirit airlines argue that the big carriers should...
...pension legislation, which would effectively defer the airlines' pension obligations for years, is considered to have a good chance of passage, and the relief might come just in time for United, which has until April 8 to submit a reorganization plan to a U.S. bankruptcy judge. United has also asked the government to make $1.6 billion in loan guarantees under a provision designed to relieve the aftereffects of Sept. 11. The smaller carriers complain that taxpayers should not be asked to keep financing those airlines' inefficient ways. "What kind of public policy is it," asks Edward Faberman, a Washington lobbyist...
...where she is running that firm's international operation, which manages $6 billion in assets in mutual funds and private accounts for folks from Taiwan to Milan. Whereas the domestic market is mature, Janus sees growth potential abroad for investments catering to retail and institutional clients, like Latin American pension funds...