Page 24 - aruba-today-20170506
P. 24

A24

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
   19   20   21   22   23   24   25   26   27   28   29