Client News Release
New rule could change pension payouts for some new retirees (at MarketWatch) and Lanni retiring as CEO of casino company MGM Mirage (AP)
City of Industry, CA --(www.FinancialNewsUSA.com)-- 11/17/2008 - Retirement industry news provided by Financial News USA (OTC: FNWU). Our coverage keeps you up to date on savings and lifestyle trends on your way and into retirement. • Best workplaces for 50+ crowd • Women fret over retirement • Home values crimping plans • Help your wife survive widowhood Learn about Retirement Weekly
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Our coverage keeps you up to date on savings and lifestyle trends on your way and into retirement. [Read the full article]
LAS VEGAS (AP) -- The chairman and chief executive of MGM Mirage Inc. announced Thursday he will retire at the end of the month after more than 13 years with the casino operator.Terry Lanni, who guided MGM Mirage to becoming the largest gambling operator on the Las Vegas Strip and the world's second-largest casino company, will remain a member of the company's board, the company said.
"This is not health related ... I am not running for public office anywhere; I am not taking over any other company, gaming or otherwise, and no, I'm not going to be on next season's 'Dancing With the Stars,'" Lanni said in a letter announcing his retirement to employees. [Read the full article]
The Dow suffers another triple-digit loss, real estate values plunge another 4 percent, more banks fail, credit tightens further and the value of the dollar is dropping. If it seems bad for most Americans, it is only worse for those who have already retired or were getting ready to leave the workplace for good.
By early October 2008, the Congressional Budget Office revealed, stock market turmoil had wiped out roughly $2 trillion of American's retirement savings over the previous 15 months. According to an Employee Benefit Research Institute analysis of 2.2 million participants, individual 401(k) losses ranged from 7.2 percent to 11.2 percent in the first nine months of 2008 before the big losses even hit.While the recent plunges in the stock market have affected 401(k)s and IRAs, it is only one part of a wave of attacks that are eating away at retirement funds and plans. [Read the full article]
LAS VEGAS (AP) -- The chairman and chief executive of casino operator MGM Mirage Inc. announced his retirement Thursday, then quickly faced questions about whether he had inflated his academic record.
Terrence Lanni, 65, announced his retirement effective at the end of the month, saying it was time to pass responsibility to a younger generation after 13 years at the helm of the casino giant.Lanni guided MGM Mirage from a one-casino operation to the largest gambling operator on the Las Vegas Strip and the world's second-largest casino company. He will remain a member of the company's board of directors.MGM Mirage spokesman Alan Feldman said questions about Lanni's academic credentials had "no bearing whatsoever" on his decision to retire. [Read the full article]
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