Word: pension
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...nightmares relating to city council meetings gone out of control." The rigors of his job are such that he suffers phobic reactions when he boards the subway to come to work and again when he gets in the city hall elevator. Hynes has applied for a lifetime disability pension of $28,800 annually. Government service has also taken a toll on Richard Sinnott, 55, the former city censor. In charge of issuing permits for rock concerts, Sinnott occasionally took in the acts. The rowdy crowds, he claimed, "instilled a sense of terror throughout my entire body. I was reduced...
Ordinarily neither of these outlandish applications would have raised an eyebrow over at the patronage-happy pension board. Unfortunately for Hynes and Sinnott, however, their cases came to light after the Boston Globe uncovered another suspicious pension request. Robert Toomey Sr., 40, manager of operations for the department of public facilities, claimed that he had suffered a ruptured cervical disc in a car accident while on City business. This left him in "constant pain, unable to do any lifting or bending." His disability request: $30,240 a year. According to the Globe, he had taken out nine separate accident insurance...
...shows that $5.1 million is not enough 350 employees would still be laid off, including 29 firemen and 30 police officers. Indeed if 2 1/2 is not eventually altered, the city will be left with next to no government. It will pay the interest on its debt, and its pension obligations, and little else...
...cent to acquire the News. What is more, he has 30 days to back out, without obligation, if he cannot reach "satisfactory" payroll-cutting agreements with the eleven unions at the News. Further, the Tribune Co. will have to cover potential tens of millions of dollars in pension and severance obligations for all employees who are laid off during the 30-day transfer period, though that will cost less than an outright closure. As part of the deal, Allbritton will get the News's presses, trucks and two printing plants, one in Brooklyn, the other on a prime stretch...
...January finally unloaded the Pacific Palisades home that he had been trying to sell for more than a year, calls the housing picture a "nightmare." Last week, in a talk to the National Association of Realtors, Reagan proposed a plan to boost house sales. He would allow pension funds to invest more in housing, for example, and make more first-time house buyers eligible for loans backed by the Federal Housing Administration. The realtors and the National Association of Home Builders, though, regarded the action as much too modest in view of the troubles the industry faces...