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BUSINESSSaturday 6 May 2017
Punching in past 65: Older-worker rate highest since 1962
By STAN CHOE of Americans age 65 and keep heading to the office tirement confidence survey work but say they can’t find
AP Business Writer over were still working, ac- because they like it and still by the Employee Benefit a job, whether because
NEW YORK (AP) — Retire by cording to government feel engaged. But many Research Institute. Perhaps they lack the skills or be-
your mid-60s? How 1960s. data released Friday. That’s others are continuing to because of slim nest eggs, cause employers are look-
More Americans age 65 the highest rate since 1962, work for a simpler, darker nearly a third of workers in ing for someone younger.
and over are still punch- and it caps a long trend reason: They can’t afford that age group say they The unemployment rate for
ing the clock, and the last higher since the figure bot- not to. expect to work until at least workers age 65 and over
time the percentage was tomed out at 10 percent in More than a quarter of 70, if they retire at all. was 3.7 percent last month.
this high was when John F. 1985. workers age 55 or older say Older workers still head- That’s a tick higher than
Kennedy was in the White As America grows older they have less than $10,000 ing for jobs may also be its median over the last 30
House. and as life expectancy in savings and investments, the lucky ones. Many older years, though it’s down
Last month, 19 percent gets longer, some workers according to the latest re- Americans would like to from earlier this year.q
Buffett’s investors facing more resolutions, like many firms
By JOSH FUNK to be voted on at annual Warren Buffett attends the world premiere screening of HBO’s “Becoming Warren Buffett” at The
AP Business Writer meetings this spring. Museum of Modern Art in New York. Billionaire Warren Buffett will take the stage Saturday to spend
OMAHA, Neb. (AP) — Be- “We find that boards are hours answering questions at his conglomerate’s annual meeting.
fore billionaire Warren Buf- increasingly willing to en-
fett takes the stage Satur- gage with investors,” said (Photo by Charles Sykes/Invision/AP)
day to spend hours answer- Sean Quinn, the head of
ing at his conglomerate’s U.S. research for Institu- fuels could hurt Berkshire’s for Peace said the group’s Shelley Alpern with the
annual meeting, his inves- tional Shareholder Services investment returns. members hope they’ll be Clean Yield Asset Manage-
tors had to weigh questions that advises investors how But even if these measures able to change Buffett’s ment will be urging Berk-
about climate change and to vote on these measures. fail, they let groups make a mind because he could shire shareholders to sup-
disclosing political contri- The resolutions offer a tool public statement about an be powerful advocate for port more disclosure of the
butions. The type of mea- for investors to force com- issue they care about, and fighting climate change, political contributions the
sures Berkshire Hathaway panies to address a topic, Berkshire’s meeting offers a but they also appreciate conglomerates more than
shareholders face are be- and in the age of social prominent stage because the chance to speak to the 90 businesses make. Alpern
coming more common as media the measures are it draws more than 30,000 large crowd about divest- said more than 300 other
groups push for change at becoming more successful, people who want to lis- ing stocks linked to fossil fu- companies have already
companies both in the way said Andrew Behar, CEO of ten to Buffett and his Vice els. adopted the approach
they operate and in how the As You Sow advocacy Chairman Charlie Munger “Everybody comes to she’s pushing for, and she
they’re governed. group that tracks and sup- field questions for most of Omaha because they appreciates having the res-
This year Berkshire share- ports such proposals. As Saturday. want to know what Warren olution process to press the
holders will vote on propos- You Sow is also backing 51 Tim Rinne with Nebraskans thinks,” Rinne said. issue.q
als requiring the sale of fos- proposals this year at vari-
sil fuel investments, a report ous companies.
disclosing details of politi- Shareholder proposals gen-
cal contributions and a re- erally face long odds, but
port on its efforts to reduce they can still lead to chang-
methane emissions. es at companies even if the
Those three are part of a re- vote totals don’t appear
cord 470 proposals submit- impressive. The odds of suc-
ted to public companies cess are especially long at
this year, according to ad- Berkshire if Buffett opposes
vocacy groups that track a measure because he
them. That’s up from 370 controls about one-third of
last year and the previous the vote and he’s revered
record of 433 in 2015. by many shareholders.
Not all of those will make Buffett and Berkshire’s
it to a vote because some board oppose all three
are disqualified and com- shareholder measures this
panies often respond after year. The board argues
seeing proposals, prompt- that both the proposed re-
ing some to be withdrawn. ports are unnecessary and
Roughly 250 are scheduled selling off stocks tied to fossil
Anthem asks Supreme Court to review blocked Cigna deal
By TOM MURPHY by a federal appeals court. insurer has sued Anthem Anthem announced its Cig- of investing in technology
AP Health Writer That court upheld a federal and is seeking billions of na bid in 2015. It has touted to manage and improve
INDIANAPOLIS (AP) — judge’s ruling that said the dollars in damages. the deal as a way to help care.But critics that include
Health insurer Anthem is not deal would further reduce But Indianapolis-based An- the companies negotiate doctor and consumer
ready to give up its $48-bill- competition in an already them Inc. said Friday that better prices with pharma- groups aren’t comfortable
lion bid for rival Cigna and concentrated insurance it hopes “1960s-era merg- ceutical companies, hospi- with giving an insurer the
now hopes to find a favor- market. The ruling was er precedents” that the tals and doctor groups. The power and leverage that
able audience in the U.S. made earlier this year after courts relied upon for their company also has said the would come from a huge
Supreme Court. regulators sued last sum- decision can be updated acquisition would help cut acquisition. They have ar-
The Blue Cross-Blue Shield mer to block the deal. to reflect “the modern un- expenses and add more gued that this combination
insurer is asking the court to Even Cigna Corp. wants derstanding of economics customers, which allows in- will lead to fewer choices
review last week’s rejection this deal to go away. The and consumer benefit.” surers to spread out the cost for insurance shoppers.q
