Taxpayers on the hook for $3 trillion in pensions

Even if the costly state pension system undergoes reform, taxpayers could get stuck with a hefty bill.
Under the current system, unfunded benefit liabilities – the amount states owe in promised retirement benefits beyond what they’ve collected — exceed $3 trillion.
But even moderate policy changes, which are highly controversial, would only trim that […]

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Hawker disputes cuts claim

In a letter sent to Hawker Beechcraft Corp. employees on Friday, the company’s vice president of human resources, Rich Jiwanlal, said claims by its machinists’ union about the number of potential job cuts were “not true.”
International Association of Machinists and Aerospace Workers District 70 President Steve Rooney said in his own letter to machinists last […]

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Big earnings jump expected at Intel

Silicon Valley's July earnings season is expected to kick off after market close Tuesday with a big quarter from chipmaking giant Intel Corp.
The Santa Clara-based company (NASDAQ:INTC) is projected by analysts to post a 43-cent-a-share profit on a 27.7 percent growth in revenue to $10.25 billion from a year ago, according to Thomson Reuters.
Analysts will […]

Wireless access now free at Philadelphia International Airport

Philadelphia International Airport now offers free, wireless Internet access to all travelers everyday.
The airport had been offering free Wi-Fi to college students and weekend travelers since 2007, through a partnership with AT&T.
Prior to the program’s roll out, charges for wireless Internet access at the airport ranged from $7.95 for a 24-hour connection to $39.95 for […]

KEZ sets up Bill Austin tribute site

KESZ-FM 99.9 has set up a tribute page on its website for fans to discuss and read about Bill Austin, who died Monday after battling cancer.
Austin co-hosted KEZ’s morning show with Beth McDonald from 1990 until February 2010. He retired in February at age 55.
McDonald continues to host the soft-rock station’s highly rated morning drive […]

Can’t afford health care? Wait ’til June

For millions of uninsured or underinsured Americans, health reform legislation will soon remove some of the barriers preventing them from getting the coverage they need.
The most immediate changes affecting those who don’t have health insurance, or are not buying enough insurance to meet their needs, start in about 81 days.
Many other longer term measures […]

Clothing shops close their doors

Fleur’t Boutique in North Scottdale and Spoken Boutique in downtown Phoenix are closing their doors.
Fleur’t Boutique will be closing its doors at the end of April at Gainey Village Shops. A liquidation sale will start on Friday with items sold at 20 to 50 percent off retail prices.
Under the ownership of Kori Davidson, the boutique […]

Trusting science on climate change

Those beating the global warming drum have sure taken a few lumps lately.
First there were the hacked e-mails from climate scientists, which critics say show an effort to massage some data and keep some scientists out of the debate.
Then there was an admission from the Untied Nations’ top climate body saying that it […]

AIG: $51 billion down, $51 billion to go

After selling off its second "crown jewel" insurance business in a week, AIG has made a sizeable dent in its plan to repay its debt to taxpayers.
But the troubled insurer is still just halfway home and it’s not clear exactly how AIG will pay off the remainder.
On Monday, the insurer announced that it […]

King Says Hedge Funds Didn’t Cause Him to Lose Sleep in Crisis

Bank of England Governor Mervyn King said officials didn’t lose sleep during the financial crisis worrying about the failure of hedge funds, whose model provides a potential solution in regulating the banking system.
“After the failure of Lehman Brothers and the need to recapitalize the banking system, it became very clear that hedge funds, […]