Word: pension
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Panic is an emotion that on Wall Street has long been attributed to the small individual investor. Last week the "institutional" investors-managers of mutual funds, pension funds, insurance companies, bank trust departments-who now dominate trading, showed that they are subject to it also. Their panicky unloading of Combustion Engineering, Inc. stock led to an astonishing price break...
...manager's annual pay from $34,000 to $45,000. Danehy called the pay hike "the most brazen political act ever taken in this city," and charged that the coalition raised the manager's salary prior to John Corcoran's April 1 retirement in order to increase Corcoran's pension...
Danehy also alleged that the council coalition had bargained with Corcoran, promising the pension increase, in return for his resignation without a fight...
...differential are as slick as those it invoked in 1929 to justify firing the janitors. Harvard claims that its employees enjoy unusual job security despite the fact that six printers on the night shift were permanently laid off several years ago due to automation. Harvard claims that its new pension plan, by ending the traditional $3.50 worker contribution to the fund, means that the workers are actually getting a 7-per-cent wage increase in each of the next two years. The strikers have a different viewpoint. The plan under which Harvard and the employees gave matching payments into...
...Putnam said he was leaning to the second alternative, but that he would carefully study all of them before making his recommendations to Bok and the Corporation. But in the course of a meeting with over 40 university financial managers and money men from almost every major foundation or pension fund--all of whom had a slightly different blend of the three alternatives--Putnam became intrigued with the idea of setting up an internal management company for Harvard. The idea was a novel one for universities and the possibilities for management innovation that internal management posed were unique...