Word: pension
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...Kentucky's employment case ruling last week, which found the state's public pension plan not to be age discriminatory, Justice Breyer wrote the opinion joined by fellow liberals Stevens and Souter and by conservatives Roberts and Thomas. (Ginsberg joined Scalia and Alito in Kennedy's dissent.) Likewise the Exxon case, where the court cut the company's punitive damages in the Valdez oil spill, had a similar melange in its 6-3 ruling. "In one way there wasn't the unanimity and consensus the chief justice said he wants, but there was something reassuring this term," says Lazarus...
...easy fear to hype, given how opaque these funds tend to be. But even the most conspiracy-minded find it hard to work themselves into a panic over Norway's Government Pension Fund-Global. That's not to say it's lacking in clout. With assets of $382 billion at the end of March, it's the world's second-largest sovereign wealth fund, trailing only the Abu Dhabi Investment Authority, which weighs in at about $875 billion. Norway's fund, flush with money from the nation's oil and gas, has stakes in 7,000 firms - from Google...
What's happening? To be blunt about it: the pinstripes are chasing the poor. Microfinance, once a relative cottage industry championed by antipoverty activists and development wonks, is on the verge of a revolution, with billions of dollars from big banks, private-equity shops and pension funds pouring in, driving growth of 30% to 40% a year. Financiers are convinced that there's huge money to be made in microfinance...
Terror-Free Investing "Rules of disengagement" failed to illustrate that all divestment models are not necessarily "terror free" [May 26]. Despite hundreds of foreign companies' doing business with Iran yearly, Iran divestment bills passed by California and Florida targeted fewer than 30 energy firms. Furthermore, loopholes allowed their pension funds to continue holding these companies in other public portfolios. By contrast, terror-free investing is comprehensive and accounts for the financial well-being of pension funds. That is why terror-free models use prescreened investment products excluding all foreign firms doing nonhumanitarian business with Iran, North Korea, Sudan and Syria...
...were hard-drinking bon vivants and lady killers. Capa wound up in Hollywood with Ingrid Bergman in his thrall, then went back to war and was killed in French Indochina in 1954. Khaldei wound up in a one-room flat on Moscow's outskirts on a $80 monthly pension, and died...