Thursday, December 8, 2016

Secretary Of Labor Named -- December 8, 2016

December 8, 2016: fast-food executive Andy Puzder for Secretary of Labor. Puzder, chief executive of CKE Restaurants Inc, which operates the Carl's Jr. and Hardee's fast-food chains, has been a vociferous critic of government regulation of the workplace. I've posted comments from Puzder on several occasions.
I track the Trump cabinet here.

UAS-Focused Data Center Locating At Grand Forks AFB, North Dakota

Data points from The Grand Forks Herald:
  • Grand Forks AFB-based Grand Sky drone business park
  • located on Grand Forks AFB, west of Grand Forks
  • EdgeData
  • 16,000-square-foot data center 
  • will be operational within a year after construction costs
  • ND legislation offering computer software, IT equipment tax breaks was critical to get EdgeData to make this commitment, according to CEO
Dallas Police And Fire Pension Board Stops Withdrawals
Most Incredible Pension Plan Ever Seen
Retire As Millionaires "On Paper" -- Keep Working 
Defer Additional Pension Deposits Into New Account

Link here.  Data points:
  • lump sum withdrawals stopped
  • weekly requests would have left them without liquid reserves to sustain $2.1 billion fund
  • by time action taken, more than $500 million has been withdrawn
  • the DROP plan made hundreds of officers, firefighters, and retirees into millionaires: DROP allowed them to retire on paper, but continue working and meanwhile defer their pension benefit checks into a separate account; once they actually retired, they could remain in DROP
  • for years, DROP guaranteed at least 8% interest on accruals
  • fund has about $729 million in liquid assets; it needs to keep about $600 million on hand
Diga Diga Doo, Odeur de Swing

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