Word: pensionable
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...snaps Union Leader Willi Zimmermann, 48. He explains that a German sergeant with five years' service draws only $150 a month (v. $270 for his U.S. counterpart), and is seeking $40 a month more. Zimmermann also demands "easier" promotion, more recreational facilities, increased health coverage, and a pension plan equivalent to that of civil servants. Fair enough within the framework of current union de mands, but Zimmermann goes further. "It is ridiculous," he says, "for a highly trained soldier to perform menial tasks like guard duty...
...investors who actually buy and sell there, the American Exchange looked like quite a tame market place. Based on a survey of 8,000 stock trading deals last May 25-a relatively quiet day in the market-the A.S.E. reported that: > Institutions such as banks, insurance companies and pension funds-whose securities business has been heavily concentrated on the Big Board of the New York Stock Exchange-accounted for 11 % of Amex trading (compared with 31% in the latest survey of N.Y.S.E. investors). Individuals did 63% of Amex trading (as against 49% on the N.Y.S.E.) and members...
When it came to economic matters, the ulema found themselves bedeviled by subtle problems of distinction that would have tried the ingenuity of the prophet himself, who lived in a less complex fiscal age. In general, Islamic scholars have agreed that government-sponsored pension systems, social-welfare payments, and the use of bank checks and letters of credit are compatible with tradition. But even though loans at interest are made by all Arab-nation banks, most Islamic scholars still stoutly maintain that this is nothing less than the sin of usury. Others feel that even fire, death and accident insurance...
...short-term loans, modern merchant bankers are intermediaries between those who have big money to invest and those who need it, often for long terms. They finance entrepreneurs and foreign governments by selling bonds or other securities to the public or to such wealthy institutional investors as insurance companies, pension funds, and even the Church of England...
...stock-market decline is hitting more people harder than any in history. At least 21½ million Americans directly own corporate shares; another 100 million indirectly have a stake in the market through their holdings in mutual funds, pension funds, profit-sharing funds and the like. Last week the Dow-Jones industrial average tum bled again, by 30 points to 744, lowest since 1963. So far this year the market has plunged 25%, causing a loss of $120 billion, or an average of $2,000 for every U.S. family. These are euphemistically called paper losses - but in many instances they...