He estimated that the paper was worth $150 million to $175 million, purely on a cash-flow basis without factoring in pension liabilities.
But for anyone wondering how exactly the man who so recently cut top-rate tax for the rich can continue to protest, as he did today, that he is foisting the burden on "those with the broadest shoulders", he is factoring in pension and other tax changes brought in by Alistair Darling – claiming the credit, in other words, for the last administration's policies.
HAVING argued last year that demography is the key factor in the pensions issue, I'm struck at how relatively little attention is paid to the issue with regard to long-term economic prospects.
"In addition to retirement income from any pension contributions she starts to make now," says Mr Bamford, "Natalie should also look at her previous pension benefits to find out what level of income these could provide and factor in any state pension income, although this is unlikely to be available until at least her 68th birthday under current proposals from the main political parties".
But when an employee must factor in an ailing pension fund and the possibility of retiring early, the calculations multiply.
Titcomb declined to provide details of talks with Green, but said the regulator had to consider a range of factors in any pension deal.
When future increases in pensions were factored in by the IFS, it found that some people in their twenties could have to wait until 105 until starting to enjoy a income higher under the new system than the one being replaced.
Investment performance is often so poor that the main factor in the growth of your pension investment is tax relief; without it, your money would often be better off in a savings account.
Since GAAP isn't perfect this method allows companies to ignore the cost of stock option grants, for instance Standard & Poor's has come up with a concept called core earnings to factor in things like options and pension programs.
Then factor in whether you have a pension at a regular job; whether you have employees or might hire some one day; and whether you want to borrow from your plan.
