BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Pensions Consider Insurance Securitization Finance Because You Refuse to Die]]>http://www.bloggingstocks.com/2010/02/15/pensions-consider-insurance-securitization-finance-because-you-r/http://www.bloggingstocks.com/2010/02/15/pensions-consider-insurance-securitization-finance-because-you-r/http://www.bloggingstocks.com/2010/02/15/pensions-consider-insurance-securitization-finance-because-you-r/#commentsFiled under: ,

The odds that you'll have a long, healthy life are better than ever ... and that creates a pretty hefty problem for pension funds. They need to find new ways to meet their obligations in a turbulent market, and the risk that you'll hang on forever is approaching every day. So, unless we're able to pass legislation encouraging mass suicide among the Baby Boomers (it's a joke, people, read Christopher Buckley's Boomsday to see how it shakes out), pension fund managers have a hefty dose of risk to offload -- fast. They're looking at the insurance-linked securities market as a way to handle the problem.

All joking aside, pension funds and insurers are translating to total pension liabilities of $19 trillion in the U.S. and $3 trillion in the UK, according to a Reuters report using data from International Financial Services London. And, an increase in longevity by one year could translate into a 3% jump in liabilities. Put simply, the IFSL's data means another $600 billion in the U.S. and $90 billion in the UK. Basically, everything we do to stick around longer (not that I'm discouraging it) leads to a higher and higher price tag.

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Pensions Consider Insurance Securitization Finance Because You Refuse to Die originally appeared on BloggingStocks on Mon, 15 Feb 2010 14:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>credit suisseCredit Suisse GroupCreditSuisseCreditSuisseGroupcsfeaturedGoldman SachsGoldman Sachs GroupGoldmanSachsGroupGoldmanSachsGroupGsinsurancelongevity insuranceLongevityInsurancepension fundsPensionFundsPensionMaximizationPensionPlansRSAsecuritizationswiss reSwiss ReinsuranceSwissReSwissReinsuranceMon, 15 Feb 2010 14:40:00 EST<![CDATA[Best & Worst: Lee Raymond of ExxonMobil; from record profits, record retirement package]]>http://www.bloggingstocks.com/2006/12/05/best-and-worst-lee-raymond-of-exxonmobil-from-record-profits-re/http://www.bloggingstocks.com/2006/12/05/best-and-worst-lee-raymond-of-exxonmobil-from-record-profits-re/http://www.bloggingstocks.com/2006/12/05/best-and-worst-lee-raymond-of-exxonmobil-from-record-profits-re/#commentsFiled under: ,

This post is written as part of AOL Money & Finance's Best & Worst 2006. Gas prices got you down? Vote for Lee Raymond as the most overpaid CEO.

Lee Raymond retired as CEO of ExxonMobil Corporation (NYSE:XOM) at the end of 2005, and in April it was announced that he had received one of the most generous retirement packages in history, nearly $400 million, including stock options and other perks, this at a time when Americans were paying record fuel prices and Exxon had made the biggest profit of any company ever -- $36 billion.

Exxon defends Raymond's compensation, pointing out that during the years he ran the company, Exxon became the largest oil company in the world, as well as one of the world's most powerful companies. The stock price soared 500 percent during that time.

Raymond began his career at Exxon as a research engineer after receiving his PhD in chemical engineering from the University of Minnesota in 1963. He worked his way up the proverbial ladder with innovative moves that cut costs and increased profits. He defended Exxon against environmentalists and human rights activists, while denying the viability of renewable energy sources and the human component of global warming.

He was president of Exxon in 1989 during the Exxon Valdez disaster, when the damaged tanker spilled an estimated 30 million gallons of crude oil off the Alaskan coast and devastated wildlife. As CEO he oversaw the merger of Exxon and Mobil -- gains from the merger showed that early predictions had underestimated the potential growth.

Exxon claims that his retirement is in accordance with its standard pension plan, based on his forty plus years of service and his salary at retirement, about $51 million.

Best & Worst: Lee Raymond of ExxonMobil; from record profits, record retirement package originally appeared on BloggingStocks on Tue, 05 Dec 2006 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>CEO compensationCEO retirementExxonExxon MobilExxon ValdezExxonMobilExxonValdezglobal warmingMobiloil pricespension plansPensionPlansrenewable energyTue, 05 Dec 2006 18:00:00 EST