In a related story, the Virginia Retirement System reports the value of its investments has dropped over $14 million since June 30, about 1/4 of its value. VRS provides pension benefits to 136,000 employees and has over 345,000 active members - state and local employees, school teachers. It is the 24th largest public or private pension fund. Officials said payments to retirees and beneficiaries are not in jeopardy.
Across the mountain at the University of Virginia, head football coach Al Groh has shaken up his coaching staff. Several assistants, including Groh's son, will retire or "pursue other opportunities." Us chickens know when a head has been chopped off!
In spite of saying "there are no scapegoats here," the head coach keeps his job. UVA was 5-7 this year. Does this sound like an investment bank taking bailout billions and firing the middle management while the CEO keeps his multimillion dollar salary? No scapegoats here?
One more story about our collapsing economy. Everything from toilet paper to peanut butter is affected. Popcorn, too? The size of the product shrinks while the price stays the same. But, the shrinkage is not very noticeable to the average consumer. You were shorted a couple ounces of Jiff peanut butter by an enlarged dimple in the bottom of the jar. Individual sheets of toilet paper shrink. Be a smart consumer - learn more at Mouse Print.