Today’s Federal Register.
The Wall Street Journal is reporting today that “Pressured by Union, Delta Cancels Payment to Special Pension Plan.” Apparently, Delta is ending contributions to its nonqualified pension trust for 35 executives in an effort to win wage concessions from pilots. The article reports that Leo Mullin, CEO for Delta, told employees in a letter to them that the compensation cutbacks are intended to represent “significant contributions by Delta’s management team to our recovery effort.”
David Goldman writes this fascinating commentary for the Wall Street Journal: “Closed Economy’? The World Is a Closed Economy!” The article takes issue with the “closed economy model” and makes this interesting statement:
The world market sets American asset prices. Over $500 billion of global capital finds its way to this country each year, more than 5% of U.S. GDP. Aging Europeans and Japanese fund their pensions with higher-returning U.S. assets.
He also states that “[w]hen America sneezes, the world catches cold, but when Japan’s capital markets turn deathly ill, American markets hiccough.”
The fast-spreading MSBlast Worm is apparently reeking havoc: “Flaw in Windows worm tips off defenders.” C/net news.com reports.
HIPPA hindering journalists? I can’t access the article, but would like to. Larry Abramson for NPR reports.
USA Today also reports: “CEOs still sitting on piles of pay.”