Word: pensioneer
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...with a disapproval rating of nearly 50%. Kyuma is the third cabinet-level minister to exit during Abe's nine-month tenure; barely a month ago Agriculture Minister Toshikatsu Matsuoka committed suicide under the shadow of corruption allegations. Meanwhile Japanese are enraged over recent revelations that millions of public pension accounts could no longer be matched to their owners because of decade-old bureaucratic errors, meaning some could end up short-changed come retirement...
Lula and Unger were also recently at odds over a legal claim Unger made in the U.S. in which he sought “close to $2 million against some pension funds controlled by Brazilian state-owned companies,” according to Reisen de Pinho. The suit prompted speculation in the Brazilian media that Unger might not assume his post, but he was inaugurated last week despite what seems to be a rocky relationship with Lula...
...appeal, of course, can be intense. Blue-chip private equity firm the Blackstone Group, which sold 12% of itself to the public on June 22, has returned an annualized 30% over the past 20 years to the pension funds, endowments and high net-worth individuals invested in its flagship private equity portfolio. On the first day of trading, Blackstone's public shares surged...
...Department waged a war against organized crime. Despite the foot dragging of FBI Director J. Edgar Hoover, who had long claimed there was no Mafia, the Justice Department indicted 116 members of the Mob. Bobby also undertook a personal vendetta against Hoffa, who was convicted of jury tampering and pension-fund fraud in separate trials...
...Pension consultant Ambachtsheer argues that this "collective DC" is just what the U.S. needs. Many companies here are improving 401(k)s to give employees more guidance, and there's talk in Washington of supplementing (not supplanting) Social Security with near mandatory retirement accounts. But even those changes would fall well short of going Dutch. UNREALISTIC EXPECTATIONS Countries don't always set aside enough money to pay for the pensions they promise [This article contains a chart. Please see hardcopy of magazine...