Word: pension
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Marsden's report includes discussions of pension contributions and long-term health care benefits. Discussion of a report on retirement is docketed for next month's Faculty meeting...
...radio spot touts the lawmaker's "antigovernment" stands. A TV ad complains that Longley is the victim of "cheap shots" by "Big Labor bosses." Then there's the whole series of anti-Longley commercials, which charge that the Congressman has voted to trim student loans, reduce the security of pension funds and "cut Medicare [to] give new tax breaks to the wealthy." Says Bruno: "It's enough to make your head spin...
...want to. In 1986 his company, MAXXAM (1995 sales: $2.57 billion), bought Pacific Lumber, the redwoods' owner. Hurwitz visited PL's Scotia, California, mill, and told workers he believed in the golden rule: "He who has the gold, rules." Then he drained $55 million from PL's $93 million pension fund, and cranked up the timber cut to pay off his debt. A redwood 300 ft. high and 18 ft. in diameter can bring $200,000 as a sawlog...
...sponsors are also gatekeepers to Fidelity's expansion plans. Johnson is, in the words of an associate, "a sucker for a good idea," and Fidelity's hottest one is to leverage its massive technology infrastructure. Since Fidelity is already handling record keeping for pension plans, the reasoning goes, why not take on other corporate bureaucracies, notably benefits plans, payroll and human resources? In today's penny-pinching corporate environment, these areas are "non-value adding." In other words, they cost money, so why not bid the work...
...gave $6,300 to Kemp's campaign in the mid-'80s.) According to Fino, Cosentino was tied to the mob--a charge he denies. In the 1980s, when Kemp was a Buffalo Congressman, Cosentino allegedly got at least $5 million in loans for a hotel construction project from a pension fund of the Buffalo local of the Laborers' International Union of North America, a union that recently signed a consent decree acknowledging mob influence. Fino, business manager of the local, has told investigators that the reputed head of the Buffalo Mob ordered the loans. Fino has said Cosentino...