ARCO pension risk highlighted by $22 million April loss
ARCO disclosed a $22 million April loss in its employee savings fund from derivatives tied to mortgages and stocks. The firm will compensate employees but warns that 401(k)s lack federal guarantees, while a federal pension agency backs defined benefits and covers underfunded plans when firms fail, a situation facing auto, tire, steel, and airline sectors amid rising underfunding and questions about long term stability.
MENTIONED IN THIS ARTICLE
Tlantic Richfield Co
ARCO
Fred Rumack
Buck Consultants
Federal Pension Benefit Guaranty Corp
Michael Morin
Milliman & Robertson
Pension Benefit Agency
Pension
Martin Slate
Clinton
Sallie Mae Defies Gloom With Center Expansion
In Lawrence, Sallie Mae's Loan Processing Center expands as direct loan program approved by Congress takes effect. Despite a stock drop from 76 to below 40, the center grows its book of business and adds space under Elaine Nelson's management, marking a turn from earlier fears.
MENTIONED IN THIS ARTICLE
Lawrence
Student Loan Marketing Assn
Sallie Mae
Assa
Act of Congress
U.S. Treasury
Elaine Nelson
The
Center
Renee Knobber
Journal-World Photo
Lawrence Loan Processing Center
McDonald Dr
Understanding umbrella insurance and its purpose
Charlton Manley Inc. president Sellars explains umbrella policies raise liability limits across basic coverages without widening scope. A $1 million increment policy boosts auto liability from $300,000 to $1.3 million and adds $1 million to homeowners and boat coverage. Benefits include peace of mind and asset protection beyond standard limits, with modest premiums often under $100 annually.
MENTIONED IN THIS ARTICLE
Sellars
Novelty ties boost a fading neckwear market audience
The $1.4 billion tie business shakes off doldrums as novelty designs from Mickey Mouse to wildlife spark demand. Designers like Hermes update casual wear with bold motifs while conservation themed ties from World Wildlife Fund boost sales and awareness.
MENTIONED IN THIS ARTICLE
Hermes
Tempe Essell
Dayton Hudson Corp
Neckwear Association of America Inc
World Wildlife Fund
Also Mentioned on This Page
Gwyn Mellinger
Journal-World Business
Journal- World
Ann McClellan
International Conservation Group
Nicole Miller
Jerry Garcia
Hemming
Bob Bianchini
Earth Wellness
Lawrence Memorial Hospital
Maine - Lawrence
Fox
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