. >> the pension benefit guarantee corporation ensures private pension plans. the head of the agency spoke at the national press corp. last week about how americans should plan for retirement. this is about 40 minutes. >> good morning. i'm jamie horowitz and i serve on the news maker committee here at the national press club. on behalf of the committee and the offices of the national press club, i want to thank all of you for coming out today. i want to thank the reporters who are joining us on the phone as well as the audience that's joining us live this morning on c-span. our speaker this morning serves as the president of the pension guarantee corporation. he'll speak for ten to 15 minutes and after that we'll take questions from reporters in the room and on the phone. the press club invited him here today because we live at a time of retirement insecurity. for many the golden years aren't so golden. 10,000 people will retire every day for nearly the next two decades. but what kind of income will they have in their retirement years? many baby boomers are with

on the pensions, on the pensions, he points to the increase in the basic state pension. i do say to him that only this prime minister can try to calm the british pensioners by taking the credit for high inflation. everybody will have noticed, everybody will have noticed he did not deny that the british pensioners are seeing a tax increase you are on the air, and not just pensioners he is trying to calm. it is families with children. will he confirm, according to the institute of fiscal funding, that as a result of all the changes from this april, families with children will be over fought under pounds per year wars -- worse off? >> the tax, he does not want to talk about it. he has to withdraw his amendment, because if he is successful, is he will give us a 40 tax rate. the other reason he does not want to talk about it is heaped cannot convince the candidate for mayor of london to pay his taxes. when it comes to pensioners, what we have done is increase the basic pension. we have kept all of the pension benefits, and the freeze in age- related expenses means it will not

on the issue of pension, on the issue of pension, he points to the increase in the basic state pension. i do say to him, only this prime minister could try to calm britain pensioners by changing the credit for high inflation. and everybody will have noticed, everyone will have noticed he didn't deny that britain's pensioners are seeing a tax increase year on year. and not just pensioners just tried to con convert its families with children. will he confirm according to the institute of fiscal studies as a result of all his tax changes from this april, families with children will be over 500 pounds a year worse off? >> i notice he is moved off the top rate of tax but he doesn't want to talk about it. in fact, i've got to ask them. he's got to withdraw his amendment because it is successful he will give us a 40 t. tax rate. the other reason, the other reason he does want to talk about the top rate of tax, the other reason is because he can't convince labour's candidate for mayor of london to pay his taxes. [shouting] when it comes to pensioners, what we have done is increase the basic st

on the issue of pension, on the issue of pension, he points to the increase in the basic state pension. i do say to him, only this prime minister could try to calm britain pensioners by changing the credit for high inflation. and everybody will have noticed, everyone will have noticed he didn't deny that britain's pensioners are seeing a tax increase year on year. and not just pensioners just tried to con convert its families with children. will he confirm according to the institute of fiscal studies as a result of all his tax changes from this april, families with children will be over 500 pounds a year worse off? >> i notice he is moved off the top rate of tax but he doesn't want to talk about it. in fact, i've got to ask them. he's got to withdraw his amendment because it is successful he will give us a 40 t. tax rate. the other reason, the other reason he does want to talk about the top rate of tax, the other reason is because he can't convince labour's candidate for mayor of london to pay his taxes. [shouting] when it comes to pensioners, what we have done is increase the basic st

lot of the pension obligations. do you fct factor that in when you look at -- >> question here is when we think about was the right premiums ought to be for pbgc, should we take longevity, the fact people are living longer into account? and the answer is, of course we should. the -- our role of the role of pbgc which is how the law created it is that it is intended to be a safety net without using taxpayer dollars. that means the premiums we charge have to cover the benefits we pay. historically are set by law and frankly have lagged what they need to be, and so from time to time the congress of the united states has recognized this and acted and raised those premiums. we've gone to the congress and said rather than waiting until you do pension legislation and rather than doing it in a way that everybody pays the same, why don't we do it on a more business-like base and let us figure out which rates apply to which people, because the way our system works right now is that there's a fundamental unfairness in it. think

they released a new study on the pension problem. >> i think it's the biggest financial challenge in california. nothing is close to this. >> reporter: they evaluated the top 24 pension systems across california which includes bay area county and city funds. it concludes spending on public employee pensions has grown more than 11% a year since 1999 making retirement benefits the fastest growing costs for local governments. the study finds the plan has $135 billion in unfunded liability. >> instead of earning the money and awarding it, you award it and then you earn it in the public sector side. what happens if you don't earn it? you the taxpayers and you got to pay. >> they say local governments are having to cut essential services such as police, fire and libraries just to keep up with growing pension obligations. it highlights employee pensions which range from a low in stanislaus county of over $24,000 a year to a high in los angeles county of $46,000. retired public safety employees, police and firefighters goat more. with a low of $48,000 in fresno county, to a high of $90,000 i

the thing to note there is that the original pension applications went through the state courts. there could have been a pension application that was kicked out through the state courts and never made it. that's possible. the other possibility is that pensions were given only on a need basis and any survivors of robert williams could have been in good financial state and not needed the money. of course, this is presented as a theory with evidence and is not meant to declare the identity of the man whose remains were found in the turret. and i and my project supervisors do not claim to be medical experts. and the last -- just so that we don't leave on a sad note here, clark rowe applied for a pension for his "uss monitor" service. he said that he enlisted on march of 1863 and was discharged in march of 1865. now, if you're going to commit a federal crime, i will advise that you go to the library first. he failed. thank you. [ applause ] >> we are consistent with the day over on time. but if you have any questions, we'll take two or three real quick. we're back on schedule. hey, tha

but first greeks are mourning the pensioner who shot himself dead in front of parliament in athens on wednesday seventy seven year old retired pharmacist demetrius crystal was left a suicide note accusing the government's cuts of destroying his livelihood his death triggered clashes hundreds gathered on syntagma square to lay flowers and like candles but violence soon erupted as groups of protesters patrolled by police who responded with tear gas athens has been steadily slashing pensions and salaries while raising taxes to secure e.u. and i.m.f. valid outs on thursday greece also extended the deadline for the last part of a bond which would see private investors shoulder massive losses let's not talk to economic analysts and international lawyer nick scratch scratch because who is in athens thanks for being with us the answer also thirty dr now has its most public marder i mean will the pensioners that triggered a nationwide riot through even overthrow the government. well at this point inside we have about a third of the population in greece living underneath the poverty line and we

the state would be required by law to contribute the correct amount required by pension systems and theublic sector pensions would be limited to public sector employment and quinn says that the plan will save the taxpayers up to $85 billion by 2045 and today he noted that a panel of democrats and republicans have worked for the past few months to come up with a plan that could win support of both parties and the house republican leader this afternoon said that there will never be a good time to do pension reform. >> the reality is if we do not get this done the solutions just do not get easier and i tell our caucus be prepared to vote for these things and know that it is not going to be easier but you have to do it. >> you are looking at more than just a party. this at $10,000 a plate tonight. the mission is to raise $5 million in one night for the new lurie children's hospital of chicago, and you saw the bears head coach there lovie smith and also there actress sara jessica parker who was emcee for the celebration tonight. >> everything that is being done is about making the family fee

. >> maryland lawmakers are still haggling over how to share the cost of teacher pensions with local jurisdictions. >> is a key element of balancing the budget this year and legislatures are running out of time as well. david collins is keeping an eye on this. what is the governor doing about it? >> we can get to that in just a moment. we have breaking news from annapolis. minutes ago, senate negotiators offered a major compromise on two fronts, the pension shift and on raising the state income- tax rate. senate negotiators are offering to go with the house version of shifting 50% of the cost of teacher pensions the first year. the house wanted to do this in three years, the senate in four years. as far as raising income taxes, senate negotiators proposed going with houseplant of raising the tax on single filers making $100,000 or more a year, and on joint filers making $150,000 or more a year, but phasing out some exemptions. no decisions are expected this evening, since the compromise was just offered. meanwhile, senate president mike miller says the governor wants to mediate the ne

we are contributing to the pension system as of july 1. sacrifices are being made throughout the work force. people know that i have worked alongside with. i truly appreciate these efforts. i am working closely with them on the biggest challenges. >> will it be fewer officers on the street with less money -- or less money? >> i think it will be less money. we want to have an approach that has the same number of officers. we may not be getting new classes for recruiting new ones. we still have the ability to higher across different cities. people want to come to san francisco to work. if we do have retirement spots open, we will do cross hires from other departments and other city departments. >> you are listening to the commonwealth club of california radio program. we're talking with ed lee, mayor of san francisco. speaking of the police department, one of your first moves was to hire a police chief. the head of the police union was overheard saying that he bought the appointment. others have said he is a member of the old boys' network. w

the gst. we allowed seniors to split their pension. we established the working income tax benefit for low- income working people. we removed more than a million low-income canadians from the federal income tax rolls altogether. we established the registered disability savings plan and the tax-free savings accountthe most important personal savings vehicle since the rrsp. altogether, we have saved the average family of four more than $3,100 per year in lower taxes. at the same time, we reduced taxes on the businesses that create jobs for canadians. canada now has the lowest overall tax rate on new business investment among major advanced economies. this is a significant advantage for canada in the global economy. [unintelligible crowd chanting] it is helping to create and preserve jobs in communities across the country, now and for the long term. because we made responsible choices, when the global economic recession hit we were able to respond decisively. we implemented one of the largest and most effective economic stimulus plans among

so what is the pbgc doing to, um, in its role to encourage traditional pension plans to look beyond thed corporate and private pension plans to create some kind of a public/private partnership that will encourage more retirement security for the vast majority of americans? >> i'm sorry, i didn't catch your name. >> [inaudible] from the afl-cio. >> what we are doing is trying, first, to preserve the plans we have, and i'll talk about that in a second. but also to try to encourage options so that employers and employees can work out plans that work for them. let me first talk about preserving the plans we have because i've been at the pbgc for a year and a half, and i'm always reminded of mark twain's remark about the rumors of my death have been exaggerated. it is absolutely true that the number of plans offered of the traditional defined benefit kind has declined in the last 30 years. it is also true that the number of people covered by those plans has increased, not decreased. there are more people covered by defined benefit plans today than there were 30 years ago. now, does that mean

grades are mourning the pensioner who shot himself dead in front of part of the men in athens seventy seven year old retired pharmacist demetrius christoulas left a suicide note accusing the government's cuts of destroying his livelihood his death triggered clashes hundreds gathered on some tugman square today flowers and like candles islands rock to go as groups of protesters pro petrol bombs the police who responded with tear gas. suddenly slashing pensions and salaries by raising taxes to security e.u. and i.m.f. bailout on thursday greece also extended the deadline for the last part of advance one which would see private investors shoulder massive losses economic analyst nick . scrapped us i should say says the policy of cuts should be given a major reason. but this point inside we have about a third of the population in greece living underneath the poverty line we've got about a million people unemployed and probably half a million kids really don't we very well at all all we need is something like these to catalyze opinion and send us into deep reflection i think the more auster

so what is the pbgc doing in its role to encourage pension plans to look beyond the insured corporate private pension plans to create some kind of a public-private partnership that will encourage more retirement security for the vast majority of americans? >> i'm sorry. i didn't get your name. >> denise from the afl-cio. >> what we are doing is trying first to preserve the plans we have. and i'll talk about that in a second. but also to try to encourage options so that employers and employees can work out plans that work for them. let me first talk about preserving the plans we have. because i've been at the pbgc for a year and a half. and i'm always reminded of mark twain's remark about the rumors of my death have been exaggerated. it is absolutely true that the number of plans offered of the traditional defined benefit kind has declined in the last 30 years. it's also true the number of people covered by those plans has increased, not decreased. there are more people covered by defined benefit plans today than there were 30 years ago. now, does that mean that a lot of folks aren't c

in a suicide note, the man accused of government of reducing his pension to nothing. is death has shocked the country and prompted demonstrators back on to the streets. >> yet again, passions burned on the streets of athens. again, protesters unleashed their anger at the government, throwing molotov cocktails and stones. there was little the police could do to calm nerves. nearby, quiet reflection for what sparked the protest. the suicide earlier in the day of a pensioner in the very center of the city, right outside parliament. the 77-year-old man had shot himself in broad daylight, the latest casualty of the economic hard times and one quickly mourned. its message reads, who will be the next victim? the pensioner, a retired pharmacist, did have a family. his despair echoed that of many greeks. his suicide note read, "the government has annihilated any hope for my survival the and i could not get any justice. i cannot find any other form of struggle except a dignified end before i have to start scrounging for food from the rubbish." officials say in the first few moss

>> that is a separate part from the pension. we have to balance -- we have to have a pension system that pays for itself. we will work on the plan and presented. i predict may be to a half weeks at the most before we have something in front of the board of supervisors to get the ball rolling. salaries are always being reviewed. we have to have the careful balance between excessive salaries and salaries that will attract the best talent, as well as salaries that provide a living wage for city workers. it is an expensive city. i get paid a lot more than others. i want to make sure that those who work for me are satisfied that they can take care of their personal business with a decent salary and pension as they put the years in. >> another reminder that you are listening to the commonwealth of california radio program. we're talking with ed lee, mayor of san francisco. you mentioned the america's cup is coming. it is coming to san francisco in 2013. it is expected to bring over $1 billion of economic benefit to the city. in exchang

greeks of mourning the pensioner who shot himself dead in front of parliament in athens seventy seven year old retired farmer says to me trysts chris to the left a suicide note accusing the government cuts of destroying his livelihood his death triggered clashes to hundreds gathered on syntagma square to lay flowers and like candles but then violence erupted as groups of protesters hold petrol bombs at police and then responded with tear gas athens has been steadily slashing pensions and salaries while raising taxes is secure those the e.u. and i.m.f. bailouts race is not extent of a deadline for the last part of that bond swap deal as well which is leaving probably investors shoulder and massive losses economic analyst nick scrappers told us the cuts policy he thinks needs a major rethink. but this point inside we have about a third of the population in greece living underneath the property line we've got about a million people unemployed and probably half a million really very well at all all we need is something like this. catalyze opinion and send us into deep reflection i think t

thousands of water in the streets of rome to protest the overhaul of the pension system in italy the demonstrators are saying that raising the retirement age will leave people of currently retired in limbo without a job or a pension political and economic analysts and xandra police he says it's the people who end up paying for the mistakes of the finance use it tries to strike the right balance for what could be the i am a pain free markets requests but it is surely not in favor of the pensions people there are numbers which are given by the government which extruding only come to watch is the situation known by trade unions. so a technical problem with that let me think through some of the world news briefing tens of thousands of people protested in egypt to demand the ruling military junta there bans members of the ousted mubarak regime for running for presidency the demonstration was organized by the muslim brotherhood and other islamist groups after parliament voted for the measure it followed the surprise calendar see announcement of mubarak era vice president and intelligence c

creaks of mourning the pensioner who shot himself dead in front of parliament in athens seventy seven year old retired pharmacist m e trysts christoulas left a suicide note accusing the government cuts of destroying his livelihood his death triggered clashes hundreds gathered on syntagma square to lay flowers my lip candles and then violence erupted as groups of protesters hurled full bombs at the police and in responding to t.v.'s athens has been steadily slashing pensions and salaries one of the same time raising taxes to secure e.u. and i.m.f. bailouts greece has now extended to the deadline for the last part of the bond swap deal which is leaving private investors shoulder massive losses economic analyst nick scratches told us the cuts policy needs of major we think he thinks. but this points inside we have about a third of the population in greece living underneath the poverty line and we've got about a million people employed and probably half a million kids are really done very well with all all we need is something like this to catalyze opinion and send us into deep reflection

in italy riled up thousands have walked out onto the streets of lawn to protest the overhaul of the pension system the demonstrators are saying the new rules will leave bills recently retired without means to support themselves for several years the reform will start raising the pension age from this year to labor unions this protest is the latest sign of the time dissatisfaction with the on elected technocrat government. and that other world news of the prime minister of guinea carlos gomez jr has been arrested by our soldiers and an apparent coup soldiers attacked his residence residence with heavy weapons seizing the premier in advance of a run all presidential election later this month but she was expected to win he's opposed by the army which also took control of key buildings and a radio station in the volatile nation a military spokesman said it didn't want to take power but claim the prime minister planned to bring angolan troops into the country. officials who served under egypt's out's leader hosni mubarak could be banned from running in the presidential election that's according

several years before the start raising the pension age from this year labor unions protest is the latest sign of a challenger satisfaction really an elected technocrat government. elsewhere tens of thousands of protesters in egypt to demand the ruling military jets of plans of members of the ousted mubarak regime from running for the presidency the demonstration was organized by the muslim brotherhood another is remiss groups of the parliament voted for the measure it follows the surprise candidacy announcement of mubarak era vice president and intelligence chief omar suleiman to become law the ban has to be approved by the ruling military council which took over from the topic taken last year. but we'll do so from minister of guinea bissau carlos gomez jr has been arrested by soldiers in an apparent coup soldiers attack his residence with heavy weapons seizing a premiere in advance of a one off presidential elections later this month which he was expected to win and he's opposed by the army which also took control of key buildings in a radio station in the volatile nation of military sp

that is followed by the head of the pension benefit guaranty corp. on repair -- on preparing for retirement. later, a discussion of the global economic outlook. >> this weekend marked the anniversary of the bloodiest battle to be fought during the civil war up to that point. the battle of shiloh with almost all 34,000 casualties. we will tour the battlefield with the cheap park ranger saturday at 6:00 p.m. eastern. sunday night at 7:00, the founder of the red cross, clara barton, operated the missing soldiers office until 1868. join us as we rediscover the third floor office as it is right -- as it is prepared for renovations. this weekend on american history tv on c-span3. >> mitt romney spoke to the american society of newsmakers today. mr. romney says the president's remarks were full of distortions. >> good afternoon, everybody. welcome to this very special naa luncheon today. before we get started, i would like to give special thanks to fti consulting, a global business with specialized services in the newspaper and publishing sectors. their prac

because all those painful reforms pretty there are not actually related to the pension reform the pension reforms and apologise and gentleman. reflection and then you're . of course an option it's not in the area relevant in your case because you are old and young. it has nothing to do with the retirement age when you thought it conducted to mention reform without changing the return and we. mentioned system can be a totally different thing of course we can also discuss the issue of the retirement age but this is not the major issue for me on this we just. need to consider what is our goal bench and system listed do we just use a big government. all the people or are we compensating people for they should their wages that they lose it's a different model altogether. if it is just the government giving you some money just to get and say thank you at the system a computer by the evil here just compensating people for their wages this is a totally different model both models exist in the world but usually it's a combination of the two some i mean if you like in america for example they had t

we will be investing $5.2 billion this year in the illinois pension system that is triple what it was in 2008 only two years ago. clearly this demands action, bold action ... we can tell you what the governor will be proposing: he will ask state employees to pay more into their pensions and expect accept smaller cost-of- living benefits and it raises coming up next we have today's top business stories and the situation with the blackhawks and the playoffs ... and we look are going to be with today's business headlines ... u.s. airways is closer to making a takeover bid for american airlines saying it reached agreements with the major unions on contract terms giving the airline leveraged on merger talks american said it had no comment on the situation at this time the feds are trying to decide whether or not the crunch on overdraft fees went far enough they're deciding on new rules the agency is taking a closer look at nine banking systems and marketing tactics convince banks to have their client sign up for overdraft programs mcdonald's is raking in the profits as customers go for tho

the ballot was unlawfully biased taking exception to the phrase pension reform. the court ruled it characterized the existing system as defective. they suggested pension modification, which the city has agreed to. >> san jose cannot have a mayor above the truth and law, unacceptable. right now city employees are going to take him to task. the courts have agreed the mayor cannot use his influence to be unfruitful and to mislead voters. >> the -- untruthful and to mislead voters. >> it is clear it is going to the voters court of appeals and superior court has said that three times. >> measure b would reduce pension benefits for city employees. the mayor says it is they say to keep the city afloat after lay-offs and cuts in services. >>> "star wars" creator george lucas is scrapping plans to build a huge complex on his ranch in marin county. instead his film producing company intends to sell to developers to build low income housing. neighbors complained the complex would lead to increased traffic and noise. the planning commission ok'd the plan over strong community

question, too. >> the question is what is pbgc doing to encourage pension plans? one thing i should be clear on is, the agency's mandate from the day it was created is to encourage voluntary private pension plans. we take our job as trying to do several things. one is to preserve the plans that are already there. that is why we work with companies like american and others to see if plans can be preserved. two is to try to make sure that we don't accidentally, or that government does not accidentally make it harder for employers to offer pension plans. this requires thinking through how do you regulate, how do you set your standards? we do that. third, to clear the air that there is general goodwill and a desire on the part of everyone to have good retirement plan. so one of the things that happens when you are in an agency that focuses on plans when companies get in trouble is, you tend to think, well, is everyone trying to stop their pension plan? the answer is no. i think that is really important. the vast majority of companies in america are offering pen

department leaders that are also here today doing everything we can to make sure that we tackle the pension issues and make sure that our budget is balanced. more importantly, we put people back to work. that is the most important thing all of us have joined together in doing. in the last 12 months, guess what we have done? we created jobs for an additional 17,300 san franciscans, bringing our unemployment rate down from 9.5% to 7.6%. that is in just one year. thank you for your help on the [applause] at. -- for your help on that. [applause] two weeks ago, we got another piece of positive information, news on the economy. our revenues became $129 million in greater, than projected in the first six months of the fiscal year. that is wonderful data for san francisco because, guess what? for some years now, it has been deficit, deficit, deficit, no increase, no revenue, and all of you know how wonderfully negative that discussion has always been. now we have some positive light. i stand before you today, just a year in office, in my first year as mayor, to say that the economic recovery is und

the court took exception to the pension reform saying it implicitly characterized the system as defective. >> san jose cannot have a mayor that is above the truth and above the law. it is unacceptable. employees will take them to task. and right now the courts have agreed that the mayor cannot use his influence to be untruthful and mislead voters. >> the court took issue with language in the proposal that measure b would protect police patrols, fire stations, streets and parks. the city agreed that language will be removed. >> the unions have filed numerous lawsuits here trying to keep it from going to voters, and it is clear it is going to the voters. a superior court has said that and said it several times. >> they are waiting to see what happens in the courts. >> what will happen before the election is you get all of the information and read about it. by then we will see what both sides have to say and figure it out. >> the court also awarded legal fees in favor of the union. the city can mott say how much the -- the city cannot say how much it cost san jose. the city plans to start pr

the court took exception to the pension reform saying it implicitly characterized the system as defective. >> san jose cannot have a mayor that is above the truth and above the law. it is unacceptable. employees will take them to task. and right now the courts have agreed that the mayor cannot use his influence to be untruthful and mislead voters. >> the court took issue with language in the proposal that measure b wou protect police patrols, fire stations, streets and parks. the city agreed that language will be removed. >> the unions have filed numerous lawsuits here trying to keep it from going to voters, and it is clear it is going to the voters. a superior court has said that and said it several times. >> they are waiting to see what happens in the courts. >> what will happen before the election is you get all of the information and read about it. by then we will see what both sides have to say and figure it out. >> the court also awarded legal fees in favor of the union. the city can mott say how much the -- the city cannot say how much it cost san jose. the city plans to start prin

retired pharmacist named austerity cuts introduced by the greek government producing his pension to nothing. just contractors lined up for business as india makes plans to modernize the tree by corruption scandals and claims its own apart country says it's prepared to spend one hundred million dollars on hardware extensions. but next r.t. speaks to a former f.b.i. informant he says the so-called war on terror is actually it's not. what it means craig montane who was recruited by the f.b.i. to take part in the agency's most controversial tactics he was a confidential informant infiltrates khalid for indian mosques to root out radicals and to investigate them use them community from within and now six years later he is with civil liberties groups to contain for their rights thanks for having me back in two thousand and six he became fatter for a syrian against islam for its tell me how did that happen while i was successful as an informant from two thousand and three to early two thousand and six working on murder for hire operations robberies trading white supremacist groups. and

fund and pay off the creditor with a pension fund they would do what sam zell recently did with the chicago tribune and deepwater leveraged buyout of the chicago tribune grabbed the employee stock ownership plan and then paid the creditors with us not going to ship plan drove the caribbean into bankruptcy and then told employees g.m. story we're bankrupt all of us say that your pensions and your savings are all wiped out so the employees have brought a fraudulent conveyance suit against them sell it still on the books and i think this principle that loans should be brought into the ability to pay should be the principle that governs say greeks foreign debt foreign government debt the debt of all of ireland iceland all of these countries that now are europe is saying ok or else if you can't pay us give us the parthenon give us your water and sewer system give us your ports give us your real estate all of this under the fraudulent conveyance law would greece would say wait a minute you want us the money without having any idea how we can repay the creditor pass to bear some of the pro

someone the transfer of teacher pensions to the counties, the other is how to raise taxes. >> the key is the revenue package, which dictates where you go, and the transitional pensions. >> the time is running out , the session ends on monday. >>> the mystery continues, who has the winning megagay millions ticket? no winner has come forward. you should check your ticket. the right numbers are worth a $158 million cash payout. >> don't be mistaken in thinking the ticket has been claimed only to have the legitimate ticketholder discard the ticket. that would be a tragedy in this circumstance. >> the winner has until september 28th to claim the prize. here the winner has the option of remaining anonymous. >>> it is opening day, we are a little more than 9 hours from the first pitch. charley crowson and brian kuebler, they are life at the yard this morning, with all the details on what you can expect. >> reporter: how is it going? >> good. >> reporter: it is cold out here at camden yards this morning. >> reporter: it's getting colder as the morning goes on, which is weird. hopefully 60, ri

the pension liabilities, the ability not to pay their own bills, the ability not to pay their own checks. parking meters are going out in the neighborhoods where they never were in order to pay for their bills. they are squeezing the taxi commission which is how the taxi drivers, by doubling and tripling their fees are -- almost on an annual basis. it has got to stop. i think what this board can do is take the taxi commission back out of the mta and and independent body and unravel the feud between gavin newsom and mr. peskin and honorable the politics that caused that. as the man said earlier, note taxi driver in the city and county, unlike you sitting on this board, has pension, medical, grievance, has dental, day off with pay, zero, and you had better start looking at that. thank you for your time. president chiu: public comment is an opportunity to address the board on the items of interest to the public. i want to make that clear. next speaker, please. >> my name is mary walker and i am here to be on record as being able to hear the voice of the rife -- wife of sheriff mirkarimi. it

three trillion government pension investment fund the world's biggest public pension said yields on japanese government bonds are unlikely to surge for a while as there is plenty of demand from cash rich domestic banks the g.p.i. f. invests reserves of national and corporate pension plans if allocates about two thirds of its assets to japanese government bonds where the yield on benchmark ten year bonds is languishing below one percent geriatrics are risk averse because all the relative have done for me to think of blowfish burgers but don't know they're the ones they're the famous mrs watson alvi you know women live a lot longer than men they have a lot of this cash that the two thirds of it sitting out one percent less than one percent in japanese government bonds where they're basically forced to finance their government bonds now their savings is running a very dangerously low it's less than two percent it's lower than american savings rates and x. so they're going to have to go outside of japan soon and all they have is fukushima blowfish stuff like that that they're saying buy or pot.

department leaders that are also here today, doing everything we can to make sure that we tackle the pension issues and make sure that our budget is balanced. more importantly, we put people back to work. that is the most important thing all this have joined together in doing. the last 12 months, guess what we have done? we created jobs for an additional 17,300 san franciscans, bringing our unemployment rate down from 9.5 to 7.6%, that is just in one year. thank you for your help on that. [applause] two weeks ago, in our city comptroller's report, we got another nice little nudge of good information. more positive news about our economy. our revenues became $129 million greater than projected in the first six months of the fiscal year. $129 million. [applause] that is wonderful data for san franciscans because guess what? for quite some years now, it has been deficit, deficit, deficit, no increase, revenues going down, all the bad news that have been shared year after year with our department heads and all of you know how wonderfully- negative the discussion has been and now we see some posi

the very rich to pay their share as well because at the moment it's the unemployed people it's the pensioners hand it's the middle classes that are suffering while the people that if that's the way close to a trillion overseas have got no right with it. a few survivors of a plane crash in russia's two men region monday remain in the hospital their condition said to be stable the aircraft went down soon after takeoff just a few kilometers from the airport killing thirty one people failure to d.s. the plane's been named as the primary cause of the tragedy or he could breeze reports from the scene. i heard an explosion and then we got a call and my commander ordered us to go to the scene in these few minutes you realize something was wrong but the magnitude of the situation hadn't quite sunk in among the first firefighters on the scene yuri immediately spotted one of the few survivors the first thing we saw was the plane debris on fire and we started putting the flames out there was this one man standing alone he didn't seem to have a scratch on him and we took him to the hospital he said but he