Robert Powell: Higher tax rates force retirement redo
The new tax law—the American Tax Payer Relief Act of 2012—is forcing retirees to take a closer look at their tax strategies in retirement and, for some, it means big changes in how they save, invest and draw down their resources.
My big fat American airline
Robert Isom, the COO of US Airways and John Snook, the Senior Vice Presdeint of Customer Service at American Airlines share their thoughts on the challenges of the coming merger and their hopes for the future airline.
Facing Backlash, AIG Won’t Join Lawsuit Against US
NEW YORK (AP) — Facing a certain backlash from Washington and beyond, American International Group won’t be joining a $25 billion shareholder lawsuit against the U.S. government over the terms of its bailout at the height of the financial crisis. The suit was filed by Starr International, a company headed by AIG’s founder and former Chief Executive Officer Maurice “Hank” Greenberg. It alleges that the government took nearly all of the insurer’s stock as part of its bailout without giving investors proper compensation. The $182 billion bailout of the insurer by the Treasury was the largest of the 2008 financial crisis. (MORE: A Heaping Helping of Chutzpah: AIG Considers Suing the U.S. Government For Bailing It Out) The timing of the suit could hardly have been worse for AIG. The company is in the midst of a “Thank You America” ad campaign to show its gratitude for being rescued from the brink of collapse. The prospect of the insurer joining the lawsuit had already triggered ...
United States: Court Denies Pinnacle Airlines’ Motion To Reject Collective Bargaining Agreement: Outlines Potential Resolution - Cadwalader, Wickersham & Taft LLP
Following the pattern recently established by other S.D.N.Y. bankruptcy judges in Hostess and American Airlines, Judge Robert Gerber denied Pinnacle Airlines’ motion to reject its collective bargaining agreement with the Air Line Pilots Association on narrow factual grounds.
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Oh No, Canada! Are We Watching Another North American Financial Crisis Unfold?
For some time during and after the financial crisis, it was fashionable to point to Canada as a paragon of fiscal and regulatory prudence. In the years leading up to the crisis, the Canadian government ran budget surpluses, which enabled it to stimulate the economy without creating huge debt loads we now see in Greece and Spain. In addition, the Canadian banking system faced stricter capital requirements and were more risk-averse than their American and European counterparts. Perhaps most important, Canada avoided the sort of real estate bubbles seen in the U.S. and Great Britain due to tighter lending standards and the absence of mortgage interest deductibility — at least until recently. For the past year or more, Canadian officials have nervously watched as household debt levels has risen to worrying heights, fueled by increased mortgage borrowing. As The Wall Street Journal reported this week: “Borrowing to buy property has helped make Canadians some of the most leveraged consumers ...