The National Pension Service, the world's fourth-largest pension fund, managing more than $200 billion in assets, said prior to the meeting that it would do all it could to kick Chung off the board because he had embezzled company funds, damaging the interests of all shareholders.
In an asymmetrical nutshell, these stories tell us accurately that boomers are approaching retirement in a precarious state with their retirement funds damaged by the recession, their houses underwater or, if paid for, unsalable, and college costs skyrocketing for their kids.
Mr. Auerbach and Mr. Faltischek said they did not believe the controversy over the use of the funds would damage public confidence in LIPA.
Reacting to the decision on Wednesday, David Snoxell, who was deputy commissioner for BIOT in the 1990s, said: "A small-scale resettlement could have been tried and 15 years of deception, litigation, wasted public funds and damage to the UK's human rights reputation avoided.
Following the severe flooding, the Jamaican government allocated about $150,000 in funds for damage repair.
Mr. McCormac cautioned that tapping that fund would damage the state's standing with bond-rating agencies.
But France and Germany also believe that any recourse by Greece to the International Monetary Fund would damage the euro's prestige and highlight their inability to sort out internal problems.
However, when it emerged that the university had also contracted to train Libyan government officials, and that the school's director, Sir Howard Davies, had given investment advice to Libya's sovereign wealth fund, the damage to the school's reputation was so great that Mr. Davies felt compelled to resign.
Victims suffer financially and devote countless hours to retrieving stolen funds, restoring damaged credit, and detangling the mess that's left behind.
He says the funds for damages will be used collectively, to clean up the water and soil and to construct a proper hospital for cancer patients.
