Word: raiding
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...next recession, with demands on Medicaid rising and the feds saying, "That's your problem," the states will be the site of an awful showdown. The powerful elderly and nursing-home lobbies will be fighting for Medicaid expansions to serve seniors. The only pot of money big enough to raid will be education, a state's biggest expense, which averages 30% of state spending. If state legislatures bow to pressure and steal from the classroom, communities will have to raise property taxes to protect their local schools...
...limit. Canada and the U.S. require front brakes, while Mexico does not. The U.S. is the only one that requires random drug testing. Even if uniform rules are agreed on, enforcement will remain a problem. As part of its safety program, the Texas department of public safety conducts periodic raids on the customs yard at Laredo, Higgerson says. But Richard Sparks, a former customs agent, recalls that whenever a raid begins, customs brokers, who operate the trucking companies, use cellular phones to stop the flow of their trucks until the raid is over...
Most problems have come at small- and medium-size firms that were tempted to raid 401(k) accounts to meet financial crises. Companies have 90 days from the time they withhold the funds from paychecks until they are supposed to hand the money over to investment managers. But some bosses apparently view the extended grace period as an invitation to dip into the accounts for their own purposes. "There is no end to the creativity of the human mind," says Brian Schaefer, president of 401(k) Ventures, a consulting firm in Palo Alto, California. "This is a hard time...
...employers are not the only ones who can raid worker benefits. Steve Anderson, the president of AlcoTec Wire, a small manufacturer of aluminum wire in northern Michigan, wondered last year why employees who left to join other companies failed to receive their 401(k) settlement checks on time. The trail led to the Honer, Timberlake Pension Services firm. Charles Timberlake, the trustee for AlcoTec's plan, admitted to stealing what turned out to be nearly $365,000 of 401(k) money. "We got the whole tearful confession," Anderson says. "He just targeted our company." Fortunately for AlcoTec, its private insurance...
...public parks. He told journalists in a previously filmed interview, "People these days say we are always bluffing...but remember that we are completely prepared to commit acts of terrorism that will be tangible for Russia.'' Basayev has to be taken seriously: last June he led a Chechen raid on the Russian town of Budyonnovsk that left a score of local policemen dead...