Word: pension
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...afford the renegotiated wage-and-benefits package the UAW agreed to in 2007. Even using GM's best-case scenario, the company projected a negative net cash flow of $14.5 billion over the next six years. Most of that deficit can be accounted for in retiree health and pension benefits - which means that one way or another, the hundreds of thousands of UAW retirees are probably going to get a lot less health coverage. The outlines of a plan are likely to be drawn up by Bloom, a pioneer in the voluntary employee beneficiary association (VEBA) approach. In a VEBA...
More along these lines is heading our way. The Administration hopes to harness our inertia with its automatic pension plan, a major step toward universal savings accounts, and by dramatically simplifying applications for federal tuition aid. Its push to computerize health-care records - another big-ticket stimulus item - could make generic drugs and cost-effective procedures our default treatments. And seniors who don't select health-care or drug plans could be automatically enrolled in low-cost options. "It would be nice if we all behaved like supercomputers, but that's not how we are," Orszag says...
...demise. But buyout funds re-emerged under the more genteel moniker private equity, eschewed hostile takeovers, reliably outperformed the S&P 500 and grew to be a far bigger force than they ever were in the 1980s. From 2005 through mid-2007, PE firms - loaded with cash from pension funds, college endowments and sovereign wealth funds, and able to borrow trillions more from banks and bond investors - went on an unprecedented buying spree, snapping up the likes of Chrysler, Dunkin' Brands, Harrah's, Hertz, and Hospital Corp. of America in hopes of later selling them to the public...
...manager you peg as particularly sympathetic - make your request in as businesslike a way as possible. If the firm is going to continue to profit from a big client you landed even after you're gone, mention that. It should be worth something extra. If leaving means forgoing certain pension benefits, ask to be compensated in cash. If you moved to a new city for your job and now you'll probably leave, ask the company to pay for relocation. (See the worst business deals...
...economy - he was, after all, the country's finance minister for a decade until 2007 - but he's also helped stoke the public's irritation toward banks. "The anger that the public has," the Prime Minister said in February of the furor over the size of Fred Goodwin's pension, "is anger that I have as well." Just don't expect to see Brown on the streets next week...