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Some companies may eliminate, or freeze, pension plans altogether. On Wednesday, for instance, AK Steel, a leading automotive and appliance industry supplier based in West Chester, Ohio, announced it would freeze defined benefit pensions plans for salaried employees and replace with a defined contribution benefit plan that includes about 3% of a worker's annual salary. "Unfortunately, this extraordinary global economic downturn requires significant and rapid measures to reduce our costs in light of sharply lower order levels from our customers," James L. Wainscott, AK Steel's CEO, said in a statement...

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

...team won the national competition for the second year running on Wednesday...

Author: By Elyssa A. L. Spitzer, CONTRIBUTING WRITER | Title: Students Defend Fed Challenge Title | 12/5/2008 | See Source »

...Wednesday, the three officials met in Craig's downtown Washington law office with more than a dozen retired generals and admirals who advocate abolishing any interrogation method that employs tactics that the U.S. would not want used by an enemy on American citizens, a principle known as the "Golden Rule." Several members of the group said they would be open to developing a new government-wide standard, as long as it only permitted techniques similar to those allowed in the field manual. "I think the field manual is fine, but I understand agency jealousies," said retired Admiral John Hutson...

Author: /time Magazine | Title: Rollback on Torture? Not So Easy for Obama | 12/5/2008 | See Source »

Siddhant Singh ’11-’12 saw the roof of the Taj Mahal Hotel burst into flames from his YMCA hostel in Mumbai, just 100 yards away from the sites of the terrorist attacks last Wednesday. He spent the next two days under curfew, and did not leave his hostel. There, he ate two meals in two days because supplies were cut off and no food sellers were willing to come to the area. “We’ve been holed up in this building for a couple of days...

Author: By Laura G. Mirviss, CONTRIBUTING WRITER | Title: Undergraduate Witnesses Mumbai Attacks | 12/4/2008 | See Source »

...Sunshine State did a double take on Wednesday when the website Politico.com quoted an e-mail from Bush that said, "I am considering it." He'll probably decide, Bush friends tell TIME, in January. And if he does resolve to run, the popularity he still enjoys in Florida, as well as the lingering weakness of the Democratic Party in the state, would make him the clear and immediate front runner...

Author: /time Magazine | Title: Why Jeb Bush Might Run for the Senate | 12/4/2008 | See Source »

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