American Airlines is trying to freeze pensions to help get out of bankruptcy
They may actually be trying to avoid dumping those pensions on the PBGC, which is the organization the government uses to keep paying the pensions promised to people who worked for companies that went belly-up. The PBGC is paying out on 4300 pension plans, an increase of more than a thousand in the last decade. That's why the classic defined-benefit pension system is dead...it was too easy to raid and too easy to under-fund, and now those programs are huge albatrosses around the necks of companies like airlines and automakers. The PBGC is massively underfunded, to the tune of $26 billion, so they're publicly breathing a sigh of relief that American is talking about taking care of its pension obligations without giving up altogether on them. (American's entire plan for exiting bankruptcy protection is a bit unusual, too, so the pension plan is just another component.) Ultimately, a few facts remain: People will need to save for retirement, and they will habitually avoid doing so adequately (because an ice cream cone today tastes a lot better than the promise of having enough money to pay for oatmeal when you're 85). Firms are scarcely different from the people that make them up, so when firms are obligated to provide retirement savings, they'll routinely avoid doing so (because today's dividends make people a lot happier than a fully-funded defined-benefit pension plan that will be the next CEO's problem, anyway). And government has shown it's no better than the voters (to whom all this trouble goes back in the first place), as evidenced by the truly staggering under-funding crisis within Social Security and Medicare. It's no exaggeration: Social Security is already running a deficit, which will get really big, really fast, starting in about two years, and Medicare had to dip into its trust fund to the tune of $32.3 billion last year. The best solution? Probably to have a mandatory program for old-age savings, but one in which people have some sort of private, personal account that the neither the government nor an unscrupulous employer can raid. If we're smart enough as a people to get mortgages and buy car insurance and raise children, then we're smart enough to manage our retirement savings -- as long as there's something compulsory about it.
NOAA's space weather page
We really don't seem to know fully what effects space weather conditions have on terrestrial weather, but we do know that things that happen way out there can affect our electronics and other things down here. Considering there's been a big solar storm that's likely to affect Earth tomorrow, it seems like a good time to keep an eye on extraterrestrial weather.
Why do we have our party colors backwards in the United States?
Red is the left-leaning color practically everywhere else, and blue is the right-leaning color. So why do we call the right-leaning states "red states" and the left-leaning ones "blue states"? It's all backwards.
Texas state cops say: Don't go to Mexico
The killings of 120 Americans there last year didn't help.
The microtargeted Presidential campaign
A little bit of research unearths an effort by President Obama's re-election campaign to target potential donors based upon all kinds of details they're collecting in their voter database. Ever wondered why Facebook and Google are so eager to collect personalized information about every user? Because it's extremely valuable stuff.
Apple rolls out the third-generation iPad
It's only been out for a day for media reviews, but there seems to be a lot of early reaction that the iPad 3 is no great leap forward beyond the iPad 2. It has a better display and 4G capability, but otherwise looks and behaves a lot like its predecessor. It'll ship on March 16th and start at $499.
A dust devil on Mars
A lovely-looking airplane
A modern Boeing 737 in a classic Streamline-era paint scheme. It's really a work of art.
Radioactive toys for the Space Age
AIB will end its program for television captioners
It's odd, considering that voice-to-text software still has a long way to go before it's reliable enough for full-time transcription, and there's still a rule in place requiring virtually all American television to be captioned. One would think those two add up to serious job security, but students apparently aren't interested enough to keep the program open.
The Oreo cookie is 100 years old
Good news about the Missouri River