According to the WSJ, General Electric Co. said it was freezing its pension plan for about 20,000 U.S. workers and offering pension buyouts to 100,000 former employees, as the conglomerate joins the ranks of U.S. companies phasing out a guaranteed retirement.
Who is the CEO?
The video said the CEO has been aggressive. What has he done to help cash flow?
How does this Pension cut help?
Briefly explain the transparency problem that GE has.
Explain how lump-sum payments to about 100,000 former employees, who haven’t started collecting monthly pension payments, will help the business.
According to Business Insider, Masayoshi Son, founder of SoftBank Group, told Nikkei Business in an interview that he embarrassed and impatient with where some of the company’s investments are at in 2019.
What were two of SoftBank’s flagship investments and what happened to them?
Who was the founder of WeWork and approximately how long did he pitch the concept to SoftBank before receiving $11 billion?\
According to the Wall Street Journal, Jennifer Hamann will become the new CFO for the Union Pacific Corporation.
Where is the Union Pacific Corporation headquartered?
What areas does the article indicate that she will heavily scrutinize?
What financial metrics is Ms. Hamann looking at?
What changes were made to Union Pacific’s capital structure prior to May 2018?
Trentmann, N. (2019). Incoming Union Pacific CFO in Search of Additional Efficiencies at U.S. Railroad. The Wall Street Journal, Sep. 27 (Retrievable online at wsj.com/articles/incoming-union-pacific-cfo-in-search-of-additional-efficiencies-at-u-s-railroad-11569623942?mod=cx_picks&cx_navSource=cx_picks&cx_tag=collabctx&cx_artPos=6#cxrecs_s)
According to the Wall Street Journal, Representative Luetkemeyer, a Republican from Missouri, introduced a bill on September 27 in Congress requiring the Financial Accounting Standards Board (FASB) to formally study the impact of new accounting standards before finalizing them.
What Act does the bill seek to apply?
What are the three major effects that the bill seeks to have investigated?
What subcommittee does Mr. Luetkemeyer sit on?
What will Mr. Luetkemeyer’s bill be called?
What is the Financial Accounting Foundation (FAF) and the FASB’s position on this bill?
According to the Washington Post, Nissan will pay $15 million, and former chairman Carlos Ghosn will pay $1 million to settle allegations by U.S. regulators that they hid more than $140 million of Ghosn’s retirement benefits from investors.
How long was Ghosn CEO of Nissan?
What punishment did the SEC impose on Ghosn? Was it for hiding retirement or something else?
When will Ghosn stand trial and will it be civil, criminal, or both?
According to Business Insider, hundreds of thousands of tourists have been left stranded after UK Prime Minister Boris Johnson refused to grant the collapsed travel firm Thomas Cook a bailout of £150 million, or about $186 million.
Explain Johnson’s idea of a moral hazard.
How large is the Thomas Cook fleet of planes and jets?
How long are some travelers expected to be stranded?
How many U.K. and global employees does Thomas Cook have?
What factors have contributed to the Thomas Cook bankruptcy?
Bienkov, A. Boris Johnson says he refused £150 million bailout for Thomas Cook because it risked ‘moral hazard’ for other firms. Business Insider, Sep. 23 (Retrievable online at https://www.businessinsider.com/boris-johnson-refused-grant-150-million-bailout-for-thomas-cook-2019-9/