Just because it’s the weekend, doesn’t mean the economy takes a break from crumbling. So, before you head outside to enjoy the second day of Spring, take a look at a few interesting stories that have recently popped up on the web. Have a good weekend!
GLOBE:The future of pensions: Share the risks: About 80 per cent of private sector workers in Canada have no guaranteed company pension, and the number is rising as more businesses ditch their defined-benefit plans. The other 20 per cent do, but many aren’t sure they can count on it. Read more.
NY TIMES:Toxic asset plan foresees big subsidies for investors: The Treasury Department is expected to unveil early next week its long-delayed plan to buy as much as $1 trillion in troubled mortgages and related assets from financial institutions, according to people close to the talks. Read more.
ADAM RADWANSKI:Responds to a Star article about Mike Harris’s return: The headline, “Resurrection of Harrisites boggles mind,” pretty well sums it up. We’ve got “ghouls … rising from the crypt” and prompting Coyle to suffer “an appalling acid flashback to a period of reckless and ruinous excess.” Read more.
FINANCIAL POST:Mid-recession binge lifts retail sales temporarily: Retailers enjoyed their biggest rise in sales since July, 2006, in January as Canadians pried their dusty wallets open and hit the stores. The jump in sales was refreshing, but economists say it was likely temporary and reflected a mid-recession binge to snap up cheap post-Christmas goods rather than a solid rise in consumer confidence. Read more.