Word: pensions
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Dates: during 2000-2009
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...disposable household income through direct payments like monthly child allowances could stimulate domestic consumption - but far more must be done to restore public confidence. Japan will not reform its economy unless its people feel secure. That's why it's vital for leaders to push ahead with reforms to pension, health-care and unemployment systems. Japan's current social-security programs hark back to an era of guaranteed jobs for life, which places unsustainable financial burdens on companies and individuals. Until modern safety nets are built, it will be impossible to make Japan more efficient and competitive in the global...
Mandigo says there are merchant bankers, insurance companies and pension funds looking for places to park their cash that might view Hyatt as a smart investment. "This is something that's fresh, has a strong name behind it, and a good reputation in the industry," he says. "It's kind of like an oasis in the desert in terms of investment opportunity...
...file workers and, when they die, reap millions in tax-free payouts. To support his position that airlines are risking catastrophe by underpaying their pilots, he excerpts the Congressional testimony of Hudson River hero Chesley Sullenberger, who notes that his pay had been cut 40% and he lost his pension. In an episode that might have come from a Dickens novel, Moore tells of two Pa. judges who shut down a state-run detention center and sentenced children, some for the most minor of infractions, to a facility run by a private company that kicked back millions to the judges...
...Moreover, as Japanese must rely on private savings as their biggest cushion when times are tough, they tend to save more than they would otherwise. Even workers eligible to receive government benefits cannot rely on the public pension system for adequate retirement funding. In short, this thin social safety net perpetuates the population decline and prevents private consumption from rising to offset the shrinking number of consumers. You can't expect the population and the economy to grow by guaranteeing survival to only the oldest workers and businesses while subjecting everyone else to market forces...
...collapse. Lear filed for Chapter 11 bankruptcy protection a month ago, citing the need to restructure $3.6 billion in debt. Meanwhile, Delphi, a former GM subsidiary based in Troy, Mich., and that automaker's biggest parts supplier, emerged from bankruptcy protection in June after unloading $6.2 billion in pension liabilities on the Pension Benefit Guaranty Corp. (PBGC), a U.S. government agency whose job is to protect private pension plans. (See the 50 worst cars of all time...