In May the U. S. Treasury Department rejected a proposal of a recovery plan from Central States Pension Fund which would have cut the pensions of 400,000 participants by almost seventy percent. It would also include 25,000 in Wisconsin. The reason for the Treasury to reject the plan was lack of explanations for the cuts and it believed that the plan could not rescue the fund.
It might be a little disturbing to know that Uber knows so much about you because it collects far more than the basic data from your smartphone says some critics.
The long drawn battle over who is going to take control of ailing Sumner Redstone's media empire worth $40 billion took new turns on Friday. Two of Mr. Redstone's longtime associates, Viacom Chief Executive Philippe Dauman and Viacom director George Abrams were informed by a lawyer that they have been removed as wardens of his holdings in the media companies, Viacom Inc. and CBS Corp.
In the current week, Thomas Nyhan, the fund director of the Central States Pension Fund said they have no new plan to steer clear of insolvency. According to him, if government funding is not available it will only take ten years for the fund to run out of money.