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Apart from the new strike law and bill freeing universities from state control, pensions reform is almost all Sarkozy has to show for his four years in power.
A brief look at some of the main legislative areas over which our government has total control – pensions, taxation, monetary policy, social care, health and welfare, education and training – tells the story.
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On Monday, officials who control pension investments in 12 states and 3 cities will meet in New York to consider how they can force changes in the way Wall Street firms do business, H. Carl McCall, the New York State comptroller, said yesterday.
The Fire Department said on Friday that it would limit the amount of overtime for firefighters and other uniformed personnel to spread such payments more evenly throughout the department and to control pension costs.
[A1.] Funds to Discuss Accountability Officials who control pension investments in 12 states and 3 cities will meet next week to consider how they can force changes in the way Wall Street firms do business.
[A1.] U.S. Seeks to Control Pension Fund The government moved to take over the pension fund for the ground employees and mechanics of United Airlines, saying that the fund was almost $3 billion short of the amount needed and growing weaker with every month that United kept control of it.
Marcia Fritz, a prominent pension-reform activist, complained that the budget plan does nothing to control pension costs.
With Los Angeles facing a $320-million 320-milliontfall next year, Mayor Antonio Villaraigosa budget on Monday what he termed a "landmark proposhortfalleform "out of conext yearnsion costs and retiree health benefits for newly hired city police officers and firefighters.
That may mean dealing with out-of-control pensions.
The reality of the savings needed – in Suffolk, we are looking at 30% over five years – suggests that even when discretionary spending has been cut, pay controlled, pensions reined in and recruitment frozen, there will still be three-quarters of a Grand Canyon left to bridge.
Increasingly uncertain what was happening, the mayor appealed to banks and bond brokers, to leaders of the municipal unions who controlled pension funds, to anyone with big money to invest -- and then to Governor Carey and federal officials.
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