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.

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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
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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  • by time action taken, more than $500 million has been withdrawn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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