Word: textron
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Dates: during 2000-2009
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...affirm is under investigation, however, is Robert Wilkis, 37, a former vice president at both Lazard Freres and E.F. Hutton. Wilkis resigned from his Hutton post earlier this month. While he was at Lazard in 1984, the firm advised Chicago Pacific in its unsuccessful takeover bid for Providence-based Textron. Government officials suspect that Wilkis passed along information regarding that and other takeover attempts to Levine. Meanwhile, Drexel, Lazard and Shearson Lehman Bros. were all conducting internal investigations. Virtually every major securities firm in Manhattan circulated memos to employees reminding them of their ethical and legal responsibilities. One Wall Street...
Unlike other new-entrant designers such as Lancair and Diamond Aircraft--which sell similar high-performance, artfully designed planes--Cirrus has set its sights on the granddaddy of airplane builders, the venerable 76-year-old Cessna Aircraft Co. of Wichita, Kans. The Textron subsidiary has sold more than 23,000 of its Skylane 182s, and the distinctive, high-wing, small-propeller planes are so ubiquitous that there probably isn't a pilot who hasn't flown a Cessna at least once...
...whole package of benefits. Companies have long been shifting from traditional pension plans, in which workers get a guaranteed income in retirement, to 401(k) plans, in which the pension depends on how much employees saved and how well they invested. And companies like Goodyear, Charles Schwab and Textron are reducing the amount they kick in to workers' 401(k) plans--or suspending company matches altogether. Other firms, such as Target Corp., are dropping paid vacations and health care for some workers...
Meanwhile, in a little noticed Treasury Department ruling last June, employers were given the O.K. to push ahead with "health-reimbursement arrangements [HRAS]," accounts that they fund on behalf of individuals and in which unused funds accumulate year after year. HRAs aren't new. Textron, which labels them "personal-care accounts," offered them to 3% of its work force last January. What's new is Treasury's blessing of the accumulation feature. Starting this January, Textron will expand the benefit to most of its 51,000 employees. Coors and 3M will start a similar program. "This is the future...
...Meanwhile, in a little noticed Treasury Department ruling last June, employers were given the O.K. to push ahead with "health-reimbursement arrangements [HRAS]," accounts that they fund on behalf of individuals and in which unused funds accumulate year after year. HRAS aren't new. Textron, which labels them "personal-care accounts," offered them to 3% of its work force last January. What's new is Treasury's blessing of the accumulation feature. Starting this January, Textron will expand the benefit to most of its 51,000 employees. Coors and 3M will start a similar program. "This is the future...