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May 2010

This is where Americans should absolutely draw the line

This is ridiculous: "The Next Bailout: $165B for Unions".

A Democratic senator is introducing legislation for a bailout of troubled union pension funds.  If passed, the bill could put another $165 billion in liabilities on the shoulders of American taxpayers

The bill, which would put the Pension Benefit Guarantee Corporation behind struggling pensions
for union workers, is being introduced by Senator Bob Casey, (D-Pa.), who says it will save jobs and help people.

As FOX Business Network’s Gerri Willis reported Monday, these pensions are in bad shape; as of 2006, well before the market dropped and recession began, only 6% of these funds were doing well.

Although right now taxpayers could possibly be on the hook for $165 billion, the liability could essentially be unlimited because these pensions have to be paid out until the workers die.

Raleigh is #1

Triangle Business Journal:

Raleigh can’t match the cultural splendors of New York City, the financial clout of Chicago, or the ethnic diversity of Los Angeles. But it does have plenty of attractive qualities of its own.

Such as its high-tech industries, which have established Raleigh as an anchor of the famed Research Triangle.

And its high-profile universities, led by North Carolina State, which have cemented its reputation as an educational center.

And its status as a state capital, which has brought political prominence and economic stability.

And now you can add this: Raleigh is the major market that offers the best quality of life in America, according to a new study by Portfolio.com/bizjournals. . . .

Raleigh earned first place, edging out two metros that are substantially larger, No. 2 Washington, D.C., and No. 3 Minneapolis-St. Paul.