For the past several months we've warned that the taxpayers of the City of Dallas, despite all of the tough talk coming out of their elected city council members, would ultimately be forced to bail out the failing Dallas Police and Fire Pension (DPFP) system. And just last night the DPFP board voted 9-0 to approve a plan that would do just that.
This is How States Will Take Your Pension
All emphasis ours
written by Soren K and MarketSlant
with contributions by Vince Lanci of Echobay.com
Are you watching closely CT, IL, NJ etc?
The table is now set for you to have your pension violated for the greater good. Are you paying attention? Someone is deciding that you must decrease your standard of living on behalf of someone else because the state of CT in its infinite ignorance messed up.
Submitted by Nima Gholam Ali Pour, member of the board of education in the Swedish city of Malmö
Earlier today, the WSJ reported that railroad giant CSX Corp, currently embroiled in a protracted activist investor fight, said that Michael Ward, its chairman and CEO will retire in May as railroad veteran Hunter Harrison and an activist investor try to shake up the company and grab the top spot. Harrison, a railroad veteran who unexpectedly announced his early departure from Canadian Pacific Railway in January foregoing tens of millions in potential bonuses, has been working with Paul Hilal of the Mantle Ridge activist fund, to become the company’s next chief executive.
Over the weekend we noted that the Trump administration was considering changing the U.S. trade deficit calculation to exclude re-exports from the US trade balance, a shift that would make America's trade gap appear even greater than it has been in recent years, potentially making future trade skirmishes and wars with America's export-heavy trade partners far more likely (see "White House May Change Calculation Of US Trade Deficit, Boosting Trade War Odds").