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investment

U.S. Cities Facing Issues Over Pension Packages

Apr 7, 2016
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Andy Uhler

A task force aimed at preventing Philadelphia from going bankrupt has urged the city’s mayor to figure out how to deal with its almost $6 billion pension deficit. Philadelphia hasn't been or isn't the only region in the country dealing with this issue, though. 

Detroit was the poster child of cities running out of money. In 2013, the city filed for bankruptcy after accumulating $18 billion of debt. The pension program was said to account for a sixth of that total.

c-George/iStock / Thinkstock

About half of Connecticut businesses oppose the idea of the state getting further into the retirement business. That’s the finding of a survey commissioned by the Connecticut Retirement Security Board. 

Ryan Caron King / WNPR

Bankruptcy proceedings for the failed television venture called the Back9Network are continuing, and a federal judge said Monday that she would approve a plan to let the Hartford-based company borrow more money. 

Senado Federal / Flickr

It goes by many names: the sharing economy, the collaborative economy, the peer economy, just to name a few. Whatever you want to call it, one thing's for sure: this new way of doing business -- where idle assets equal big profits, and the hard-earned currency of trust comes through user reviews -- is changing the economic landscape of our country.

Ryan Caron King / WNPR

The state-funded, off-the-air Back9Network has filed for bankruptcy, with the hope of emerging with an existing group of shareholders who will restructure the company. 

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