Page 817 - Pensions News Today

Fatalities. one is too many and railroading is statistically a very, very safe way to travel. but we obviously have problems in metro north right now. >> congressman, thanks very much. i know youre going to stay on that. motor city, detroit, was given green light to move forward with the largest public bankruptcy in u.s. history. federal judge determined that detroit had met the conditions necessary to be in bankruptcy allowing the city to come up with a plan to get rid of $18 billion in debt th...

Municipalities and owners of teams get together and they build these monuments of sports and everything else. and certainly -- its okay. well put the $250 million to the hockey arena -- well stick it to the workers. you know, those cops who are on the street for 30 years? you know those garbage collectors? you know anybody in the role of a city? is that fair? you mean to tell me that theres -- that if theyre going to do this in detroit, they at least cant find some way to figure out, we are goin...

Total annual revenues are pension liabilities. connecticut its 190%. new jersey 137%. this is a problem thats happening around the country. the way that its dealt with in detroit i think will in some ways be a road map for other cities in america. >> theres no doubt. this is a chal thank could find itself on the doorstep of a number of cities, northwest, competitive cities. as miss walsh knows all liability the city faces is by contract. everyone is going to have to take in the lingo used in the...

Low taxes. of course, weve got to cut taxes. but heres the catch. wi withholding state money from the city has helped crush the city of detroit. now, i dont know what city you live in. but lets just think about this. all of a sudden, your city, and you pay state taxes, youre not going to get any state funds anymore. oh, no, no, no. you live in who struck john usa. no, you dont get taxes anymore. the state legislature is holding the money from you so you have to suck it up. the numbers are pretty...

As the governor, weve got to deal with the economic crisis in detroit. but he should have removed pensions from the table. you dont harm -- you dont attack individuals making $19,000 a year putting a bullseye on their back while youre trying to achieve the goals of wall street and wall street bankers. they arent going to be harmed. they arent going to suffer. the folks who are going to suffer are those retirees. we think thats unacceptable. this is not only a legal question and were going to cha...

Has some level of debt in their life. $18 billion debt to the city of detroit, thats pretty hefty, no getting around that. no question about that. but when you have $66 million of state money that has been denied by this governor to the city of detroit, do you think maybe that $66 million could at least help make those pensions whole? well, they never saw the money. it was denied to the city. the total since 2002 is $167 million. let me ask you, is that the way you would like to run your city? i...

Read in "slate" today, and predecks were talking about how you couldnt take your computer to the beach, and says here at the end, what i might add are very small words, you cant tote that commuter to the beach, yet the director of m.i.t. medical lab predicts well buyle books and news over the internet. >> the end of civilization. >> in the moment we think this impossible, look at the article. >> kids will some day look to the heavens for their gifts and packages and will no longer wait for the m...

This. there are three legs to the retirement stool. pensions, savings, and social security. the most solid leg these days is the latter, social security. so strengthening it does make sense. >> okay. so it sounds like you agree with senator warren when she says theres a retirement crisis. what is the political likelihood with anything happening with this congress and white house to address it? >> well, first of all, let me say its a crises thats slow moving. its not going to show up tomorrow. bu...

Bit more and give them a little bump up one more point that social security now in about a third of americans, on social security rely on social security for their entire income. its not like theyre getting rich from this. its $1,200, $1,300 a month, basically. >> if youre looking at a congress that refuses to face the fact that the pension system in this country is being eroded very rapidly. you saw governors all over the country, attacking public employees pensions, youve seen companies go int...

Security rely on social security for their entire income. its not like theyre getting rich from this. its $1,200, $1,300 a month, basically. >> if youre looking at a congress that refuses to face the fact that the pension system in this country is being eroded very rapidly. you saw governors all over the country, attacking public employees pensions, youve seen companies go into bankruptcy. i fly back and forth on united. and i have flown almost 4 million miles. and all the flight attendants who ...