Jilian's Feed
Nov 8, 2012

U.S. Northeast digs out from snow following hurricane

NEW YORK (Reuters) – New York City and much of the U.S. Northeast on Thursday dug out from a snowstorm that walloped a region still struggling to recover from the devastation of Superstorm Sandy.

The unseasonably early winter storm dumped more than a foot (30 cm) of snow on parts of Connecticut and slapped the region with 50 mph (80 kph) winds, plunging another 300,000 homes and businesses back into darkness and creating a new commuting nightmare for a region whose transportation system was still under repairs.

Nov 8, 2012

Wintry storm hits Northeast, slowing Sandy recovery

NEW YORK (Reuters) – An unseasonably early-winter storm brought snow, rain and dangerous winds to the U.S. Northeast, plunging many residents of the most populous region of the country back into darkness just as they were recovering from Superstorm Sandy.

The storm iced roads and hit transit systems, setting the stage for a difficult Thursday morning commute and bringing fresh misery to those whose lives had been disrupted by the massive storm that smashed ashore on October 29 with historic flooding.

Nov 5, 2012

New Orleans linemen square Katrina debt with Sandy aid

NEW YORK (Reuters) – On the 19th floor of Consolidated Edison’s Manhattan headquarters, the veteran lineman briefing a roomful of 100 out-of-town utility workers had a lot of advice, from the practical to the profane.

“Be careful,” he said, conscious that half of those in the room — most of whom had driven over 1,000 miles to aid in the biggest U.S. power recovery effort ever — had never set foot in New York City before. “We have all kinds of people here.”

Nov 1, 2012

Officials fret about polling sites in storm-ravaged states

NEW YORK (Reuters) – Officials in New York, New Jersey and other states hit hard by the powerful storm Sandy are anxiously waiting to see when power will be restored in darkened areas and whether polling sites may need to be moved for next Tuesday’s presidential election.

“We’re open for business November 6. That will be Election Day,” said John Conklin, spokesman for the New York state Board of Elections. “We’re doing everything we can to make sure that everyone who goes to the polls will have a poll site to go to.”

Oct 20, 2012

Analysis: U.S. companies take aim at pension risk with lump-sum offers

NEW YORK (Reuters) – Corporate America is finally ready to deal with a monkey on its back: massive pension obligations.

AT&T Inc on Friday said it plans to contribute a $9.5 billion stake in its wireless business to its underfunded pension plan. Earlier this week, Verizon Communications Inc moved to unload $7.5 billion in pension obligations to insurer Prudential Financial Inc.

Oct 15, 2012

US local governments take budget knife to retiree health plans

Oct 15 (Reuters) – As cash-strapped U.S. cities and states
struggle to address gaping budget holes, a long-honored benefit
for public-sector workers has come into the cross-hairs of
budget cutters: retiree health insurance.

A growing number of states and cities are eliminating or
reducing health coverage for retirees, a benefit that has long
fallen by the wayside for most private-sector workers.

Sep 30, 2012

Insight: Mom and pop investors miss out on stock market gains

NEW YORK (Reuters) – Stocks have more than doubled since the financial crisis and are closing in on a five-year high, but many Main Street investors have been absent from the party – especially those with the least saved.

Those who missed much of the rally did so because they reduced equity exposure after the benchmark S&P 500 index plummeted 57 percent between late 2007 and March 2009, according to an analysis by Reuters of mutual fund flows and changes in assets held in retirement accounts. Investors with the smallest savings typically saw the lowest percentage recovery in returns.

Sep 30, 2012

Insight – Mom and pop investors miss out on U.S. stock market gains

NEW YORK (Reuters) – U.S. stocks have more than doubled since the financial crisis and are closing in on a five-year high, but many Main Street investors have been absent from the party – especially those with the least saved.

Those who missed much of the rally did so because they reduced equity exposure after the benchmark S&P 500 index plummeted 57 percent between late 2007 and March 2009, according to an analysis by Reuters of mutual fund flows and changes in assets held in retirement accounts. Investors with the smallest savings typically saw the lowest percentage recovery in returns.

Sep 30, 2012

Mom and pop investors miss out on US stock market gains

NEW YORK, Sept 30 (Reuters) – U.S. stocks have more than
doubled since the financial crisis and are closing in on a
five-year high, but many Main Street investors have been absent
from the party – especially those with the least saved.

Those who missed much of the rally did so because they
reduced equity exposure after the benchmark S&P 500 index
plummeted 57 percent between late 2007 and March 2009, according
to an analysis by Reuters of mutual fund flows and changes in
assets held in retirement accounts. Investors with the smallest
savings typically saw the lowest percentage recovery in returns.

Jul 23, 2012

US public pension funds to face calls to set realistic targets

NEW YORK, July 23 (Reuters) – U.S. public pension funds are
expected to report poor annual returns in the coming weeks,
results that are likely to increase calls for more realistic
retirement promises for teachers, police officers and other
public workers.

At least three of the nation’s largest U.S. public pension
funds have already announced returns o f b etween 1 p ercent and
1. 8 p e rcent, fa r below the 8 percent that large funds have
typically targeted.