Pennsylvania residents are groaning under the weight
of their pension debt.
Local residents are recognizing seriousness
of pension debt.
Not exact matches
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability
of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost
of accommodating, announced increases in the build rates
of certain aircraft; 6) the effect on aircraft demand and build rates
of changing customer preferences for business aircraft, including the effect
of global economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result
of global economic uncertainty or otherwise; 8) the effect
of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution
of key milestones such as the receipt
of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation
of our announced acquisition
of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability
of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk
of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production
of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts
of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak
of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on
pension plan assets and the impact
of future discount rate changes on
pension obligations; 17) our ability to borrow additional funds or refinance
debt, including our ability to obtain the
debt to finance the purchase price for our announced acquisition
of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect
of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect
of changes in tax law, such as the effect
of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations
of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect
of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability
of raw materials and purchased components; 23) our ability to recruit and retain a critical mass
of highly - skilled employees and our relationships with the unions representing many
of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment
of interest on, and principal
of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness
of any interest rate hedging programs; 28) the effectiveness
of our internal control over financial reporting; 29) the outcome or impact
of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition
of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result
of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks
of doing business internationally, including fluctuations in foreign current exchange rates, impositions
of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
In 2008, it was profitable and had no
debt, a fully funded
pension plan and net equity
of $ 1.5 billion.
As
of mid-2013, the crown corporation is unprofitable and has $ 1 billion in
debt, a
pension plan underfunded by $ 6 billion and negative net equity
of nearly $ 3 billion.
The kicker is this: Dalio says the divide will only get worse in the next 5 to 10 years, both because
of a demographic squeeze that puts stress on
pension, healthcare, and
debt promises; and because
of the effects
of technological change on employment and wealth.
Its European creditors decided on Wednesday to suspend the implementation
of short - term
debt relief measures after the Greek government announced additional spending on
pensions - an action that European partners deemed as «unilateral» and disrespecting the efforts agreed under the country's 86 billion euro ($ 89.75 billion) bailout program.
The average Canadian senior's shaky financial status is another key factor: many have high levels
of debt without the savings or
pensions they need to maintain adequate lifestyles.
The city is weighed down with
debt, billions in unfunded
pension obligations, declining credit ratings, a police department often accused
of using excessive force against African - Americans, a rising tide
of murders, and a host
of other troubles.
The 200 - year - old business went into compulsory liquidation at 0600 GMT after costly contract delays and a slump in new business left it swamped by
debt and
pensions liabilities
of at least 2.2 billion pounds ($ 3 billion).
With more square miles (kilometers) than Manhattan, Boston and San Francisco combined, Detroit didn't have enough tax revenue to reliably cover
pensions, retiree health insurance and buckets
of debt sold to keep the budget afloat.
In an era when the
pension liabilities
of local governments remain a concern, investors may want to consider the
debt offered by established public enterprises — airports and utilities, for example — as an attractive alternative to lease revenue and
pension obligation bonds.
Given Osiris's strong five - year record
of growth and profitability, Bowers was able to help make Miller's wishes come true: he structured a deal that raised $ 13 million from a large local
pension fund — the Pennsylvania Public School Employees Retirement System (see «What Pension Funds Want,» [Article link]-RRB--- by selling a package of subordinated debt and convertible preferred stock, which included a fixed interest rate and dividend
pension fund — the Pennsylvania Public School Employees Retirement System (see «What
Pension Funds Want,» [Article link]-RRB--- by selling a package of subordinated debt and convertible preferred stock, which included a fixed interest rate and dividend
Pension Funds Want,» [Article link]-RRB--- by selling a package
of subordinated
debt and convertible preferred stock, which included a fixed interest rate and dividend yield.
They called for immediate steps to reopen banks and said any deal must address
debt sustainability - code for reducing Athens» crushing
debt - but gave no hint
of concessions from the Greek side towards its creditors» demands for deep spending cuts and far - reaching reforms
of pensions and labour markets.
I have no
debts whatsoever, plenty
of cash savings, a very healthy retirement portfolio, a nice home all paid for, a good
pension plus above average social security payments, so I am able to travel widely and stay in high end hotels.
These risks and uncertainties include competition and other economic conditions including fragmentation
of the media landscape and competition from other media alternatives; changes in advertising demand, circulation levels and audience shares; the Company's ability to develop and grow its online businesses; the Company's reliance on revenue from printing and distributing third - party publications; changes in newsprint prices; macroeconomic trends and conditions; the Company's ability to adapt to technological changes; the Company's ability to realize benefits or synergies from acquisitions or divestitures or to operate its businesses effectively following acquisitions or divestitures; the Company's success in implementing expense mitigation efforts; the Company's reliance on third - party vendors for various services; adverse results from litigation, governmental investigations or tax - related proceedings or audits; the Company's ability to attract and retain employees; the Company's ability to satisfy
pension and other postretirement employee benefit obligations; changes in accounting standards; the effect
of labor strikes, lockouts and labor negotiations; regulatory and judicial rulings; the Company's indebtedness and ability to comply with
debt covenants applicable to its
debt facilities; the Company's ability to satisfy future capital and liquidity requirements; the Company's ability to access the credit and capital markets at the times and in the amounts needed and on acceptable terms; and other events beyond the Company's control that may result in unexpected adverse operating results.
The Assets and
Debts of Canadians: Focus on private
pension savings.
Your anchor
of eliminating total government sector net
debt relied heavily on growing surpluses in the Canada and Quebec
Pension Plans (which will not continue as the baby - boomers retire).
Total government net
debt includes the
debt of the federal, provincial - territorial and municipal governments, along with that
of the Canada and Quebec
Pension Plans.
(The balance is made up
of debt owed by local governments and the Canada and Quebec
pension plans.)
Moreover, the company keeps spending money it doesn't have on acquisitions, dividends, and buybacks, so it now sits with almost no excess cash and $ 660 million (68 %
of market cap) in combined
debt and underfunded
pension liabilities.
In 1994, among the G - 7 countries, total general government
debt in Canada (including federal, provincial - territorial and municipal governments and the activities
of the Canada and Quebec
Pension Plans) was the second highest (Table 2).
In other words, people have to pay either so much
debt or they have to have forced saving, like
pension fund saving, that the economy is shrunk for financial reasons, for putting more and more
of its money out
of the real economy
of goods and services into the financial sector.
Total government sector net
debt consists not only
of the net
debt of the federal government but also that
of the provinces, territories, local governments and the Canada and Quebec
Pension Plans.
Off balance sheet
debt and underfunded
pensions equal 10 %
of NCR's market cap.
However, it has off balance sheet
debt,
pension, and other liabilities that add up to ~ $ 500 million (25 %
of market cap).
More than half
of current
pension contributions are required simply to pay down the
pension debt instead
of for new benefits for current workers.
The city's unfunded
pension liabilities (i.e.,
pension debt) ballooned to an officially reported total
of nearly $ 65 billion as
of fiscal 2016, up from $ 60 billion just three years earlier.
Simply put, the price UTX will pay for this acquisition — which comes to ~ $ 33 billion when accounting for all forms
of debt and unfunded
pension liabilities — makes it almost impossible for the deal to create long - term value for shareholders.
The idea is for Wall Street to sell all these bad
debts to
pension funds and say you'll make a high rate
of return, and then you'll be left holding the bag when it all collapses.
The 10 - year
debt facility, with a fixed interest rate, will be used to finance the seed portfolio
of a vehicle managed by Corestate on behalf
of the German
pension fund.
Debt A Four Letter Word Why Eat Cat Food In Retirement Being Bearish Is Not Profitable How does one
of the top 10
pension funds diversify their assets?
In the 2006 Budget, the government promised to reduce the deficit by $ 3 billion per year; to reduce the federal
debt - to - GDP ratio to 25 per cent by 2012 - 13; to eliminate the total government sector
debt (which includes the federal, provincial and local governments as well as the Canada and Quebec
pension plans) by 2021; and finally, to keep the growth in program expenses below the rate
of growth in nominal GDP.
A general rule
of thumb says it's safe to stop saving and start spending once you are
debt - free and your retirement income from Social Security,
pension, retirement accounts, etc. can cover your expenses and inflation.
``... The result
of the junk bond process was to load American industry down with so much
debt that there's no money to pay
pensions...»
Of those UK respondents with a
pension plan, the survey uncovered that 24 % were unsure what to do with their
pension savings at retirement after paying off any
debts, while 20 % planned to take
pension cash and bank it — or have already.
Most
of the proceeds from the sale
of Alton's sewer system and water treatment plant would go toward combined police and fire
pension debt of more than $ 113 million.
A public
debt on its way to 100 %
of GDP within the year — and a total
debt many times this when private
debt,
pension liabilities and entitlement programs are included.
«This transaction allows us to fully repay our outstanding
debt, significantly lower our
pension liabilities and have a substantial cash position following the close
of the transaction,» Tronc CEO Justin Dearborn said in a news release.
Kinnaras has been pushing the Board to «take advantage
of the robust M&A market for both newspaper and broadcast television and to sell all operating units
of MEG in order to retire existing corporate and
pension debt and achieve a share price shareholders have rarely seen in recent years.»
Much
of Neiman Marcus's
debt load stems from its $ 6 billion leveraged buyout in 2013, when Ares and Canadian public
pension fund CPPIB acquired it from other private equity firms.
Neiman Marcus does not face any significant
debt maturities until 2020, when a term loan
of nearly $ 3 billion comes due, giving its private equity owners Ares Management LP (ARES.N) and Canada
Pension Plan Investment Board (CPPIB) time to try to turn the business around.
Any attempt to cancel some category
of debt, say government
debt or personal mortgages, would immediately drive those financial intermediaries holding such assets, e.g. banks,
pension funds, investment trusts, into insolvency.
While
debt consolidation companies offer loans to individuals with tarnished credit, they usually require proof
of income such as
pension or salary.
In fact, when it's all added up, total unfunded
pension and retiree health care
debt across all levels
of Illinois government has grown to $ 267 billion.
DEBT Pension Deficits: While Private plans have an estimated deficit
of just $ 465 billion, Public plans
of local, state and the federal government in the US are estimated to have something like $ 1.6 trillion!
As if states and municipalities didn't have enough to deal with concerning their own government
debt, they will eventually have to deal with a reality that will explode their budget deficits: the low rates
of return from their
pension investments.
The business had been struggling given that it had # 900m
of debt and a # 587m
pension deficit before it failed.
The fraud issue lies as far outside the scope
of the financial committee meetings as does the question
of how the economy should cope with its unpayably high mortgage, state and local
debts in the face
of its inadequately funded
pension obligations.
Industrial capitalism has passed through a series
of stages
of finance capitalism, from
Pension - Fund capitalism via Globalized Dollarization and the Bubble Economy to the Negative Equity stage, foreclosure time,
debt deflation, and austerity — and now what looks like
debt peonage in Europe, above all for the PIIGS: Portugal, Ireland, Italy, Greece and Spain.