Word: pension
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...Robin Hood bent on redeeming the good name and reputation of his brother Terry (Robert Urich). A likeable if marginally nutse firefighter. Terry is injured while combatting a fire during his off-duty hours. Because he was slightly inebriated at the time, the city deprives him of his pension and disability payment, now sorely needed to cover escalating medical bills. Jimmy, whose sole occupation appears to be shooting baskets and slouching around the streets of Brooklyn, takes it upon himself to fight the entire municipal administration...
Biller, Blaylock and Sombrotto together control rights to bargain for nearly 1.3 million workers. All three have been on unpaid leave from their jobs, but they are still accumulating federal pension benefits, with the unions paying the Government's share. The three leaders, refusing to resign, accused the Reagan Administration of seeking political revenge. Said Biller: "It is a very cynical, politically motivated antiunion move." Said Edward J. Rollins, director of the 1984 Reagan campaign: "Absolutely no one in the White House sought the action...
...boxes brought into the hearing room by Democratic Senator Howard Metzenbaum of Ohio, who had planned to use them as props for an attack on the President's budget. Brandishing one that carried the word VETERANS in black letters on its side, Stockman suggested that the $18 billion military pension plan, which covers 1.3 million military retirees, is an expenditure that could go on the congressional chopping block. "I'll probably be in hot water for saying it," Stockman confessed, "but I'm going to say it because it's about time it was said...
...though some in the West Wing secretly sympathized with it. The Budget Director, said Press Secretary Larry Speakes, "was expressing a personal opinion probably not shared by the President." Later, when asked in an interview with the Wall Street Journal whether he agreed with Stockman's view of military pensions, the President did not hedge. "No," he said, "I have to think this is a little different than any other pension program." Defense Secretary Caspar Weinberger was much tougher: he termed Stockman's broadside "insulting and demeaning...
...week of heavy trading and tumult, of ecstasy and then anxiety. On Tuesday the Dow surged nearly 15 points, to close at a historic peak of 1292.62, breaking the previous record of 1287.20, set on Nov. 29, 1983. No sooner had the shouting stopped, however, than institutional investors, including pension funds, insurance companies and bank trust departments, began to cash in their profits, causing the Dow to give up most of its gains...