Word: pension
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...sessions, kidded with reporters, took dockside strolls to survey Bimini's natural resources ("Is that all you? he asked one girl in a tight sweater who sauntered past). There was at least some good news to justify his buoyant mood. Exclusion made him eligible for a $15,000 pension-half his regular congressional salary. Better yet, the New York Court of Appeals, highest in the state, lopped $100,000 off the outstanding libel judgment against him and ordered a lower court to reconsider another part of the judgment on technical grounds. This left him owing only some...
Oscar Robertson, NBA player representative, submitted the demands for a shorter exhibition season, pay for pre-season games, an improved pension plan, a guarantee that the present 81-game schedule won't be extended, and the right to play out an option in a contract...
...question is not academic. On construction alone, the churches spend $1 billion per year. Denominational pension funds - invested in stocks, bonds and mortgages - add up to more than $2 billion. The yearly purchasing power of the churches runs into still more billions; last year the Roman Catholic Archdiocese of New York alone spent $17 million on goods and services...
...more profitable. In less than 16 years, the royalty payments on the 50% exceeded $13 million; this year alone the church's share is expected to reach $2,000,000. Two weeks ago, in order to obtain funds, the archdiocese sold its interest to a group of 15 pension funds, universities, hospitals and individuals. It had to pay $1,000,000, covering legal fees and a commission, to the Wall Street firm of Laird & Co., which arranged the transaction. But the sales price, along with the yearly royalty payments, , meant a cool $25.5 million collected from Listerine...
...consumer is reliable: he regularly spends well over 930 out of every $1 that he takes home, and his purchasing goes up as his earnings go up. The National Industrial Conference Board reckons that, after he spends for necessities and such "fixed" savings as social security payments and pension-fund contributions, the consumer has more than 40% of his income left over for "discretionary" spending or investment; much of it goes for luxuries...