Pension Plan Lawsuit

New York Transit Worker Pension Plans Sue Over Fund Mismanagement

New York’s Metropolitan Transportation Authority (MTA) Defined Benefit Pension Plan Master Trust, Manhattan and Bronx Surface Transit Operating Authority Pension Plan and MTA Other Post-Employment Benefit Plan have filed a lawsuit against Allianz Global Investors U.S. alleging mismanagement of an AllianzGI Structured Alpha (SA) fund caused “astonishing” losses.

Uh oh.

China has won AI battle with U.S., Pentagon’s ex-software chief says

(Recasts headline, adds U.S. comment) LONDON, Oct 11 (Reuters) – China has won the artificial intelligence battle with the United States and is heading towards global dominance because of its technological advances, the Pentagon’s former software chief told the Financial Times.

Modern Miracles, New Cancer Treatment Saves the Terminally Ill

New cancer treatment destroys tumours in terminally ill, finds trial

A new cancer treatment can wipe out tumours in terminally ill head and neck cancer patients, scientists have discovered. In a landmark trial, a cocktail of immunotherapy medications harnessed patients’ immune systems to kill their own cancer cells and prompted “a positive trend in survival”, according to researchers at the Institute of Cancer Research (ICR), London, and the Royal Marsden NHS foundation trust.

What is the metaverse and why you probably should care

What is the metaverse, and do I have to care?

In recent months you may have heard about something called the metaverse. Maybe you’ve read that the metaverse is going to replace the internet. Maybe we’re all supposed to live there. Maybe Facebook (or Epic, or Roblox, or dozens of smaller companies) is trying to take it over.

Inflation

Producer inflation accelerated in August, as wholesale prices rose record 8.3% from a year ago

Prices that producers get for final demand goods and services surged in August at their highest annual rate since at least 2010, the Labor Department reported Friday. The producer price index accelerated 0.7% for the month, above the 0.6% Dow Jones estimate.

“I have imagined this moment for a long time. Is it real?”- Morpheus, ‘The Matrix Revolutions’ (2003)

‘Matrix 4’ trailer and title drops at CinemaCon

We now know more about the new “Matrix” sequel.

Surprise, Surprise…

Social Security won’t be able to pay full benefits by 2034

Social Security will have to cut benefits by 2034 if Congress does nothing to address the program’s long-term funding shortfall, according to an annual report released Tuesday by the Social Security and Medicare trustees.

A Recent Opinion…

The Baby Boomer Bond Dilemma

U.S. Treasuries have been the bonds of choice for safe retirement income. But they could deliver no real return for the next decade. Today’s record low bond yields could not come at a worse time for many baby boomers. Owning U.S.