Word: pension
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Salomon's more urgent problem is customer defections, which threaten the firm's liquidity. The World Bank and at least two state treasuries and four state pension funds said they would all stop buying Treasury bonds through Salomon until questions about auction violations are resolved. The British Treasury is also considering sanctions against the investment house. More desertions are expected...
...monthly pension is only $43.33, and every penny of it matters to Paul Hudspeth, a North Carolina textile worker who retired in 1975 from Cannon Mills. But last April, California regulators seized the ailing Executive Life Insurance Co., slashing payments to Hudspeth and 8,800 other Cannon retirees 30%. Last week former Cannon owner David Murdock came to the rescue, promising he would make good on their losses with $800,000 of his own money, until Executive Life is shored up. Yet many blame Murdock for the mess. When he sold Cannon in 1985, Murdock replaced its pension plan with...
...Santa Cruz employee, citing emotional stress, sued a colleague and the university after the colleague wrote a message on official stationery labeling him a racist. The plaintiff lost his case in two courts and plans to appeal to the state supreme court. He has meanwhile retired on a disability pension...
...possible reason, officials say, is the fact that Turkish workers, most of them young and healthy, pay more into the German social-welfare and pension system than they take out. Turks opening businesses in Germany have created at least 100,000 new jobs, and their investments in the country total $2.7 billion...
...week. "Investors seem to be breathing a huge sigh of relief," said Christopher Dixon, an analyst for PaineWebber. "This is a significant improvement over the blind rights offering," concurred Cliff Hinkle, executive director of the Florida State Board of Administration, a pension-fund manager that holds 188,000 Time Warner shares and had joined a stockholder suit against the previous plan. "Before, you couldn't tell how much you were going...