Pension Shortfalls – The Next Wave?

Law360, New York (November 11, 2008, 12:00 AM EST) -- As Yogi Berra once said, “It’s like déjà vu all over again.” Today’s news about falling stock markets and lower interest rates creates the unmistakable feeling that we’ve been here before – and what followed then wasn’t pretty.

Once you get over that feeling, you remember that it was earlier this decade. It was a dark and stormy period in the economy. The stock market dropped like a rock. The “ R – word” (recession) was constantly in the news. A government stimulus package sent checks...
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