Word: pensionable
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...long afterward, so was Enron. The company's Chapter 11 filing leaves banks, pension plans and other lenders with at least $5 billion at risk. More than 4,000 Enron employees have lost their jobs and 401(k) savings. The collapse is still reverberating in the stock market, which has dropped some $200 billion in value since Enron's Dec. 2 filing, amid fears that other Enrons are lurking out there...
There is nothing inherently sinister about special-purpose entities, and Enron's initial investors did well because the deals were straightforward. CalPERS, the California state pension system and one of the nation's largest institutional investors, put $250 million into an spe called jedi i, which invested in natural gas projects. CalPERS got back $433 million, a spiffy 73% return over four years...
Republicans say the Democrats are already overplaying their hand. But Republicans are fighting back just the same. Bush's new pension-reform plan seeks to fix some of the things that went wrong for Enron employees, and like-minded G.O.P.-sponsored measures are going off like popcorn in both the House and the Senate. The proposals don't go as far as Democrats want, but businesses fret that they are just an opening bid. Too many restrictions, the lobbyists say, will discourage companies from making any matching contributions to employee retirement funds...
...millions for many. But you must, according to the rules of the fund, subtract all the money you are getting from other sources except charities. A court settlement would not be diminished this way, but this is not a court, Feinberg repeatedly points out. Deduct life insurance, pension, Social Security death benefits and workers' compensation. Now you have the total award the government is offering you for your loss...
...Labour Party was led by John Hume, Nobel Peace Prize winner, singer of songs with President Clinton, darling of the world's press since he staked out a nonviolent Irish nationalism at the start of the Troubles. Durkan, the youngest of seven children raised on a police widow's pension, was Hume's detail man for two decades, turning the great leader's big but fuzzy visions into political reality. His skill at listening and bridging divides won him respect, and when Hume finally stepped down, Durkan ran unopposed (he joked that he was the "heir abhorrent"). Perversely, his very...