Accuracy in Media

It seems that the public employee pension fund has officially spiraled out of control when it hit the $111 billion mark. Holy cow.

WASHINGTON — The board for the state of California’s public pension fund voted in favor of about 100 temporary pay hikes, which will count toward calculating public workers’ pension funds hired since 2013. Reuters reported that the move upset California Democratic Governor Jerry Brown, who is trying to cut the ballooning costs of public worker […]

WASHINGTON — Detroit’s recent effort to declare some of its general obligation bonds as unsecured debt faced a strong challenge by public sector unions, but resulted in a judge’s decision to impose a 2 to 3-week negotiation period between bond investors and the city. Reuters reported that if the city wins the case, then bond insurers […]

Last week I reported on the open revolt by current and former staffers at The New York Times in response to the paper’s recent moves to freeze pensions of employees while awarding a fat pension to former CEO Janet L. Robinson before she was eligible, according to the company’s own policy. On Monday, The New […]

The New York Times, which has been in financial turmoil for years, is now facing an open revolt from staffers who are unhappy with the newspaper’s current management. Employees who have weathered layoffs and salary cuts over the last few years received another jolt last week when the paper announced that it was freezing pension […]