Guaranty Corporation

By most conventional measures, Paul Fredo is an American success story. The son of a coal miner, he made almost $200,000 in the last year, enough to place him in the top 2% of wage earners. As a financial manager for the U.S. unit of Alstom, the French...

Many lost their jobs. They lost their health and life insurance. And now many are losing chunks of their pensions. But these Bethlehem Steel Corp. retirees refuse to lose their dignity. "It's a raw deal," said Daniel Chunko, 54, a former crane...

A U.S. Bankruptcy Court judge on Wednesday approved the liquidation plan for Bethlehem Steel Corp., clearing the way for the final disappearance of the Lehigh Valley industrial icon by year's end. In a 29-page order, Judge Burton Lifland cleared the...

Dennis Pearson is best known as a community activist from the east side of Allentown, a man who was often defeated in elections for school board, city council and Lehigh County commissioner. He always came back fighting. But now the 56-year-old former...

Ellen Hoffman has a simple message: It's never too late. No matter how old you are or how little you've saved, you can become retirement-prepared, says the author of "The Retirement Catch-Up Guide" (Newmarket Press, 2000). That idea, which may provide...

It's only been one week since a pension takeover threatened to sour a deal to buy assets of Bethlehem Steel, but the man behind a potential billion-dollar offer is seeing renewed signs of hope. Wilbur Ross, chairman of steelmaker International Steel...

A federal agency's decision to take over Bethlehem Steel pension plans today could scuttle Steel's merger with International Steel Group, officials from both companies said Tuesday. The government-run U.S. Pension Benefit Guaranty Corp. said Monday...

Few topics will make the public's collective eyes glaze over quicker than insurance regulation. So here's your wake-up call: Bailing out two defunct Pennsylvania insurers will cost more than $1 billion, and you are going to help pay. Those two leave...

WASHINGTON - The Senate brushed aside warnings of a presidential veto yesterday and advanced toward passage of legislation to ease pension plan payments for thousands of companies and to give special relief to a few. Senators voted 67-25 to reject an...

Bob Solomon turns 65 soon, which will force him to make pivotal financial choices about his pension plan. His employer, National Distributing Co., offers a defined-benefit pension--the kind that provides a monthly income for life. At age 65, employees--...

Key Pension Questions While 401(k) plans (defined contribution plans) are relatively easy to understand--you get out what you and your company put in, plus whatever you earned on your savings in the meantime--traditional defined benefit pensions can...

United Airlines, whose internecine worker-management strife contributed to its downfall, now finds that its beleaguered unions will play a significant role in shaping the way the company will reinvent itself. On Friday, the Association of Flight...