Word: pension
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...taxes about as high (in addition to income taxes averaging 30%, Swedes pay a painful 11% sales tax on all retail purchases). Last week Economics Minister Krister Wickman announced the Cabinet's intention to begin putting the state's huge pension funds in northern industries, a move that will give the government a considerably larger stake in Swedish industry than the 5% it now controls...
Only a few months ago, hardly any one much cared how Charles Quitman Stephens, 57, chose to lead his life. An unemployed bulldozer operator, Stephens drew a veteran's modest pension from the Government, lived alone in a room rented for $10 a week in downtown Memphis, and had a reputation for drinking. Stephens would have continued to attract small notice had he not been present in his rooming house on the afternoon that Martin Luther King Jr. was shot to death while standing on a motel balcony a few hundred feet away...
...approved by the SEC, the fee cuts could cost brokers some $150 million of their $2.5-billion-a-year commission income. Much of that money would then remain in the coffers of big institutional investors, indirectly enriching thousands of mutual-fund shareholders and pension-fund contributors. Brokers should be able to bear the loss: soaring trading volume has deluged Wall Street with profits. Last year the net earnings of Merrill Lynch, Pierce, Fenner & Smith, the largest U.S. brokerage house, jumped 25% to $54.6 million, as its operating revenue, mostly from commissions, climbed to $369 million. Profits at Goodbody & Co. rose...
...Satchel is one of the greatest pitchers of all time," said Braves Owner William Bartholomay, "and baseball would be guilty of negligence should it not assure this legendary figure a place in the pension plan." That it would. Though Satch leaves everyone guessing about his age, he was born some time around 1905, the son of a Mobile, Ala., gardener. In an era when professional sport was for whites only, the gangling, broad-shouldered iron man with the blazing fastball had to sweat out a living on the old Negro circuit. For almost three decades, he pitched as often...
...added up to just over four years in the majors, and the pension rules set a five-year minimum. Bartholomay makes it clear that charity has nothing to do with signing Satch. "With his tremendous background," said Bartholomay, "Paige is expected to be a great help in working with young players." He may even get into a game or two. After all, in his final appearance with the A's, at the age of 60 or thereabouts, he held the Boston Red Sox scoreless for three innings...