Word: pension
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...other hand, for six years LTV has been in Chapter 11 bankruptcy, which allows for rehabilitation rather than liquidation of a company's assets. Without a bail-out from somewhere, LTV is almost certain to go belly up, leaving a $3.1 billion pension shortfall for more than 100,000 current and retired -- American -- employees. Beyond secrets and beyond jobs, what's at stake is how the U.S. should cope with an industry that is bound to shrink as the country comes home from the cold...
Green outline several proposals that couldprovide incentives for retirement, including onethat would project the pension system from theeffects of inflation...
...brought in friends for a wash and rinse as well. The accused did bring two friends; they were state troopers who arrested Guyer as soon as they were dry. Last week the magistrate apologized and pleaded guilty to official oppression, or misusing his office. He then resigned, forfeiting his pension benefits and ending his brief coiffeurtorial career...
Originally, when shareholders were few in number, they had real control over the companies they owned. But as corporate "democracy" widened ownership, the power of shareholders became diffuse, while corporate management grew in strength. The new assertiveness by pension-fund managers and stock-owner groups, abetted by the changes contemplated by the SEC and Congress, should serve to restore some power to the real owners of each company. After all, argues the new breed of rebels, that's what capitalism is all about...
...SAYS U.S. commercial real estate is dead? Although property values have plunged more than 30% in the past five years, some people think all that empty space may yet turn to gold. Sixteen of the largest U.S. pension funds plan to invest $3.4 billion in commercial property this year, according to Price Waterhouse. That is more than twice what they spent last year. Banks and S&Ls may still be shunning the sector, but pension-fund money managers hope to pick up devalued holdings and watch the profits roll in when the industry revives...