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...last year, the funded status of the pension plans Mercer analyzed has fallen from an estimated 104% (a surplus) to 80% (a deficit). Now, companies are scrambling to determine how to make up the difference. There are two key ways to do that, with the easiest being a stock market recovery. But there's no telling when that will happen...

Author: /time Magazine | Title: Pension Funds Take Another Pounding | 12/5/2008 | See Source »

...plans may force them to file for bankruptcy. When President Bush signed the Pension Protection Act in 2006, companies won cost-savings concessions, such as the ability to use a higher interest rate in computing lump sump pension payouts. But the savings from those concessions have been swamped by stock market losses...

Author: /time Magazine | Title: Pension Funds Take Another Pounding | 12/5/2008 | See Source »

...romance. It has the sweeping landscapes of “Lawrence of Arabia,” the dramatic cultural overtures of “Gone With the Wind,” the beautiful bantering leads of “The African Queen,” and the vaguely amusing stock background characters of “Casablanca.” Although “Australia” eventually succeeds in constructing itself as an epic film, it just isn’t a very good one.The story of “Australia” is essentially a series of clich?...

Author: By Samuel E. Chalsen, CONTRIBUTING WRITER | Title: Australia | 12/5/2008 | See Source »

...independent in these times?,’ and the feeling that any day [the War] could end,” Bala says. “It’s hard for our generation to understand 20 years out, but now is a particularly good time to start taking stock of these things and the legacy of the Cold War.” This production of “Chess” forgoes flashy costumes and big dance numbers in favor of a more humanizing view of the characters, making the themes of the musical more resonant...

Author: By Erika P. Pierson, CONTRIBUTING WRITER | Title: Cold War Meets Dancing Queen | 12/5/2008 | See Source »

...executives are trying to figure out how to cope under circumstances they have never faced before. Sacred cows are being sacrificed to preserve earnings: Honda announced today that it was pulling out of Formula One racing to focus on its core business. Toyota, which has seen its stock drop more than 50% since the beginning of the year, established an Emergency Profit Improvement Committee chaired by company president Katsuaki Watanabe. Since forming the committee last month, Toyota has planned cuts to production, as well as layoffs for 50% of its contract workers by the end of March...

Author: /time Magazine | Title: Why Detroit's Woes Are Bad for Toyota | 12/5/2008 | See Source »

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