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Mergers and Acquisitions

Pension Benefit Guaranty Corp. Takes Over Lenox Pension Plans

May 20, 2009
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The Pension Benefit Guaranty Corp. has taken over two pension plans sponsored by bankrupt fine china manufacturer Lenox Group Inc.
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Possible Suitors Continue Circling HR Software Firm SumTotal

May 7, 2009
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One bidder has said it believes ‘the present management team lacks the requisite experience to effect a [software as a service] transition.’
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Chrysler Bankruptcy Could Lower Pension Benefits

May 1, 2009
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In a new question-and-answer guide about Chrysler’s pension plans, the federal Pension Benefit Guaranty Corp. notes that a bankruptcy filing can result in a reduction of benefits if plans are later taken over.
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Hourly Employees Spared Painful Benefits Cuts in Chrysler Bankruptcy

April 30, 2009
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Union employees will still receive company-sponsored health care. CEO Bob Nardelli says ‘all qualified employee’ pension and 401(k) funds would be protected from Chrysler’s creditors.
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Mercer, Callan Pull Plug on Merger

March 31, 2009
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Mercer and Callan Associates have halted plans to merge their investment consulting businesses, according to a Callan news release.
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Suit Filed to Halt Gevity’s Acquisition

March 20, 2009
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TriNet, a San Leandro California-based professional employer organization, announced this month that it had struck a deal to acquire Gevity. TriNet would pay $4 per share in cash for all outstanding shares of Gevity, valuing the deal at $98 million.
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C-Suite January

February 27, 2009
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C-Suite January
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No Retention Bonus for Wachovia Reps

February 23, 2009
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The chief executive of Wachovia Securities, now part of Wells Fargo, gives the news to the brokers. Some will leave, one says.
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Mercer to Acquire Callan Associates

February 18, 2009
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Terms of the deal, announced Tuesday, February 17, weren’t disclosed. The combined entity will boast roughly 1,100 investment consulting employees in 41 offices worldwide.
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Unions Fight to Control Piggy Bank

February 17, 2009
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Amalgamated Bank, the nation’s only 100 percent union-owned bank, finds itself at the center of the crumbling marriage between garment workers and hotel employees. Each side is vying for control of the $4.5 billion-asset New York institution.
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