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New Jersey Governor Chris Christie, whose cutback of public-employee compensation two years ago made him a national model of Republican strength, now is trying to scrap century-old civil-service rules.
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The Illinois legislative effort to repair the nation’s worst-funded pension system moved closer to a showdown as the Senate passed a restructuring measure endorsed by public-employee unions.
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The Illinois House of Representatives approved a bill designed to repair the nation’s worst-funded pension system by raising contribution levels for state employees and delaying the retirement age.
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Occidental Petroleum Corp. Chairman Ray Irani may be eligible for a lump-sum severance payment of about $38 million and annual payments of $2.2 million if he is forced out by investors in a vote today.
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Occidental Petroleum Corp. Chief Executive Officer Steve Chazen will keep his post through the end of 2014 as the company announced changes to its compensation plan and restrictions on who may serve as chairman.
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Behind the headline-grabbing job reductions at Switzerland’s biggest banks is a manufacturing boom that is keeping the economy ahead of the rest of Europe.
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Citigroup Inc. shareholders, who rejected the bank’s 2011 compensation plan, voted in favor of the latest round of payouts after the lender said it overhauled rewards for top executives.
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Poland’s 2012 budget gap narrowed less than the government planned as a euro-area recession curbed growth in the European Union’s largest eastern economy.
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Averting a retirement crisis in the U.S. requires fresh thinking, not to mention political will. Ideas range from a restructuring of Social Security to beefing up employer-sponsored retirement plans to creating a new tier of mandated retirement accounts. Vanguard Group founder Jack Bogle, Senior Adviser to the Treasury Secretary Mark Iwry, former SEC Commissioner Harvey Pitt and others share their thoughts on what needs to be done.
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Ukrainian Prime Minister Mykola Azarov’s government survived its first no-confidence vote after the opposition failed to garner enough support to break a legislative impasse.
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