Pensions
Eastman Kodak to Shift Pension Assets to NEPC
The company has shut down its internal investment office and made other plans based on the pension’s overfunded status.
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Risk
CFA Institute Systemic Risk Council Adds 3 New Members
The policy and regulatory reform advocacy group expands to 19 with new experts from Germany, France, and the US.
Corporate Moves
Teamsters Drop Yellow Strike Threat After Central States Pension Extends Benefits
The union threatened to strike over a missed $50 million payment by subsidiaries of Yellow, which accused the Teamsters of breaching their CBA.
Pensions
Michigan State University Endowment Buys Majority Stake in Detroit Landmark
The university is paying $21 million for 79% of the 95-year-old Fisher Building.
Is Big Oil’s Renewable Energy Push Credible—and Good for Investors?
Exxon and its kin were laggard stocks for a long time, but now they enjoy flush revenue and strong share prices. The bet: Their clean fuels may give them better stability.
Market Moves
3rd Quarter Earnings Season Gets Off to a Wheezing Start
Banks’ so-so results don’t inspire confidence, as the stock market continues its losing ways.
Regulation
SEC, CFTC Fine 11 Financial Firms Nearly $2 Billion for Recordkeeping Failures
The regulators say the violations impeded their ability to conduct investigations.
Asset Allocation
World’s 300 Largest Pension Funds’ Assets Rise to Record $23.6 Trillion
Japan’s GPIF remains the largest pension fund in the world for the 20th straight year.
Newsmakers
SEC Plan to Bolster Money Market Funds Stirs Ire
Critics warn that the proposed new rules would drive out investors and plan sponsors.
Newsmakers
Brother, Sister Charged in Alleged $124 Million Crypto Fraud Scam
John and Tina Barksdale allegedly defrauded thousands of investors through offerings of a digital token called Ormeus Coin.