Pension funding gaps trigger reform calls in Congress
Senate Finance Committee heard that lax reporting rules and corporate behavior have driven underfunded pension plans higher. United Airlines case shows how bankruptcy shifts billions in pension obligations to the PBGC, widening its deficit and stirring fears of a taxpayer bailout.
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Washington
Congress
America
Senate Finance Committee
United Airlines
Capitol Hill
Federal Pension Benefit Guaranty Corp
Pri
S&l
David Walker
Government Accountability Office
President Bush
Jay Rockefeller
D-W. Va
John Boehner
Ohio
GM to close plants and cut 25000 jobs by 2008
GM chairman Rick Wagoner announced at the Wilmington meeting that the automaker will shutter plants and cut about 25,000 U.S. manufacturing jobs by 2008 to restore profitability. He said the cuts, on top of prior reductions, aim to save roughly 2.5 billion annually while GM holds over 20 billion in cash.
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Wilmington
Del
General Motors Corp
United States
Rick Wagoner
Delaware
Wagoner
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Iraqi politics eye talks with Sunni insurgent groups
Sunni politician claims two insurgent factions Islamic Army in Iraq and Army of Mujahedeen ready to negotiate with the Shiite-led government potentially broadening the political front. Bombings kill 24 as death toll nears 871 in 5 1/2 weeks since government formation.
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Baghdad
Iraq
Hammam Hammoudi
Hammoudi
Al-Samarie
Illinois Institute of Technology
U.S
Gunfire on Highway 146 targets truck driver
Police report a blue 1990 pickup fired at an 18 wheeler on the northbound feeder near Highway 146 and Garth Road. One bullet hole appeared in the cab after the incident. Police seek a man suspected in a separate knife attack at 301 Tri City Beach Road Monday night, where a resident was threatened and another witness identified the suspect.
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Highway 146
Garth Road
Tri-City Beach Road
Girls Injured After 4-Wheeler Collision in Pasture
Two girls aged 12 and 13 were riding a 4 wheel recreational vehicle in a pasture on Cedar Bayou Road 2800 block when they lost control and hit a barbed wire fence. They drove home, called 911, and were taken to San Jacinto Methodist Hospital for treatment. Police had no details on injuries or guardians at the time.
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Cedar Bayou
San Jacinto Methodist Hospital
Baytown Police Beat Reports 169 Calls in 24 Hours
Baytown police logged 169 calls for service from 6 a.m. Monday to 6 a.m. Tuesday, including 13 alarms, two assaults, one auto theft, six burglaries, 14 disturbances, two shots fired reports, eight thefts, two major accidents and three minor crashes. Crime Stoppers offers tips and anonymity. call 281-427-TIPS. Police Beat derives from Baytown Police Department reports. The column is accessible via the city website.
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Baytown
City of
Profit-taking erodes Wall Street gains on Fed warnings
Wall Street drifted to a mixed close after a Fed official signaled further rate hikes, erasing a 111 point Dow gain. Greenspan had suggested a possible pause, amid dueling signals from Fed members, leaving investors unsure on economic strength and policy.
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New York
Federal Reserve
Federal Reserve Bank of Atlanta
Jack Guynn
Fed
Open Market Committee
Guynn
Ments
Standard & Poor
Alan Greenspan
Beijing
Greenspan
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