August 08, 2008

Travel Day

Happy 08-08-08 to everyone. As Steve Carell's Michael Scott of "The Office" would say: This only happens once every billion years!

Off the grid for most of the day. Back on Monday, with bells on...

Aug 8, 2008 6:08:00 AM | Miscellaneous

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West Virginia Revisited Back in late May, we posted an item on the story of almost 8 in 10 West Virginia teachers choosing to abandon their 401(k)-style defined contribution plan in favor of rejoining the state's defined-benefit pension system. In Monday's Wall Street Journal, Jennifer Levitz added more detail to this fascinating case study. Here's part of her opening salvo: [O]n July 1, after a vote authorized by the state legislature, 14,871 school employees, or 78%, switched to the old-fashioned pension plan. After the vote, teachers were "jumping up and down and crying in the halls," [union president Judy] Hale says. The school...
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Monday Reading A new week and the bulls seem to have the ball--at least until a new set of headlines crosses the wire... We love to see Barry Ritholtz get his righteous-anger groove on like this. Dollar strength and commodity weakness are very much related to one another, but is dollar strength all good? We're really beginning to like Evan Newmark. Good stuff from The Economist on the housing wealth effect. An especially important point of this piece is one we've made here many times: "Very often there is too much emphasis on the losers from falling house prices and too little...