Systemic Failure in Canada’s Private Pensions: Who could have prevented it? What could be done now? (Originally published April 17, 2009, and re-hosted on WordPress March 5, 2012) There has been much ink spilled already about the destruction of Nortel, Canada’s technology icon. As an almost 30 year employee of Bell-Northern Research/Nortel and now a pensioner, I […]
Florida: April 2009- Property values, property taxes, constitutional challenge, should I buy now?, “Ponzi state”? 1. Case-Shiller January 2009 Index US property values continue to on their downward path. The January report shows Miami values fell 3.6%, 29.5% and 43.4% since previous month, over past 12 months and since the December 2006 peak, respectively. The […]
Pensions: Relief for companies, but not pensioners Despite the fact that Canada’s financial institutions appear to be generally in better shape than American ones, some say due to more stringent regulation, even if that was true it sure doesn’t apply to protection of pensioners. Todd Wallack writes in the Boston Globe’s “Pension Plan Choices May […]
Pensions: General and Nortel Specific Topics 1. Pension outcomes in case of bankruptcy/restructuring/asset sales You may have heard of a well-known telecommunications equipment supplier, a global player which prospered for decades and then fell on hard times lost billions of dollars, laid off thousands of workers, had over $1B under-funded pension obligations, had Pavi Binning […]
Florida Update- February 2009 In Herald Tribune’s “Crist plan counts on stimulus“ Joe Follick reports that Florida’s governor Crist is proposing four constitutional amendments that lawmakers would have to approve for the 2010 ballot. The four measures would cap annual assessment increases on non-homestead property at 5 percent (reduction from 10%), provide a five-year super-exemption […]
Findependence Day by Jonathan Chevreau I just finished reading Jonathan Chevreau’s new book Findependence Day. I would highly recommend it to all just starting their working lives or newlywed/partnered couples. The story of this fictional young couple with their personal and financial struggles not only made very interesting reading, but it is the framework for […]
“Spend ‘Til the End” by Laurence Kotlikoff and Scott Burns Laurence Kotlikoff and Scott Burns challenge conventional financial planning in their new book “Spend Till the End”. They say that conventional financial planning is guaranteed to make you financially sick. By the way, Kotlikoff implemented the approach/ideas in his planning tool ESPlanner ($149) which I […]
“Foundation & Endowment Investing”by Lawrence E. Kochard and Catheleen M. Rittereiser Background This book is based on a series of interviews with Chief Investment Officers (CIOs) of a dozen of foundations and endowments. The purpose of this blog is to summarize some lessons that individuals may be able to learn from these CIOs. “Foundations and […]
“Pension relief for corporations? Yes, but not without protecting the pensioners! Past week’s papers were filled with articles on why Ottawa should be considering “pension relief” for corporations with underfunded pension plans. But most commentators missed the real story. This is not about the impact on companies which are contractually responsible for the pensions; it […]
Site (and Sight) Unseen: Florida Real Estate Update (October 23, 2008) Is it a time to buy for Canadians in the U.S.? Last week I received, with my local newspaper, an advertising brochure with articles advocating that you run out to buy now because Florida property is on sale. The brochure included stories on short […]
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