http://www.newsvine.com/financesNewsvine - financesen-usCopyright 2013Mon, 25 Mar 2013 23:26:39 +0000Sun, 19 May 2013 09:19:52 +0000http://www.newsvine.comhttp://blogs.law.harvard.edu/tech/rss http://www.newsvine.com/_news/2013/03/24/17454977-2-states-challenge-german-redistribution-systemhttp://www.newsvine.com/_news/2013/03/24/17454977-2-states-challenge-german-redistribution-systemeugermanypublicfinancesworld-newsMon, 25 Mar 2013 00:31:21 +0000http://activitystrea.ms/schema/1.0/posthttp://activitystrea.ms/schema/1.0/generic_post http://margaretkatheryn.newsvine.com/_news/2013/03/24/17445211-russian-ties-put-cyprus-banking-crisis-on-east-west-fault-linehttp://margaretkatheryn.newsvine.com/_news/2013/03/24/17445211-russian-ties-put-cyprus-banking-crisis-on-east-west-fault-lineeurussiafinancesworld-newscyprusgeopolitical-strategiesSun, 24 Mar 2013 23:54:45 +0000http://activitystrea.ms/schema/1.0/posthttp://activitystrea.ms/schema/1.0/bookmark http://william2310.newsvine.com/_news/2013/03/21/17405487-how-i-make-fifty-dollars-profits-a-dayhttp://william2310.newsvine.com/_news/2013/03/21/17405487-how-i-make-fifty-dollars-profits-a-daybusinessstocksmoneyfinancesstock-marketpersonal-financesThu, 21 Mar 2013 23:39:14 +0000http://activitystrea.ms/schema/1.0/posthttp://activitystrea.ms/schema/1.0/generic_post http://www.newsvine.com/_news/2013/03/20/17391261-detroits-emergency-manager-extends-olive-branchhttp://www.newsvine.com/_news/2013/03/20/17391261-detroits-emergency-manager-extends-olive-branchusmanagercity-councildetroitcity-hallfinancesus-newsemergency-managerdetroit-city-hallkevyn-orrWed, 20 Mar 2013 23:45:46 +0000http://activitystrea.ms/schema/1.0/posthttp://activitystrea.ms/schema/1.0/generic_post<p>Kevyn Orr anwsers a question during a news conference in Detroit, Thursday, March 14, 2013. Gov. Rick Snyder announced that he had chosen Orr, a partner in the Cleveland-based law and restructuring Jones Day firm, as Detroit's emergency manager. Snyder's already declared a financial emergency in Detroit, saying local officials lacked a plan to solve it. (AP Photo/Paul Sancya) </p><p>Kevyn Orr, right, speaks as Detroit Mayor Dave Bing listens during a news conference in Detroit, Thursday, March 14, 2013. Gov. Rick Snyder announced Thursday that he had chosen Kevyn Orr, a partner in the Cleveland-based law and restructuring Jones Day firm, as Detroit's emergency manager. Snyder's already declared a financial emergency in Detroit, saying local officials lacked a plan to solve it. (AP Photo/Paul Sancya) </p><p>Kevyn Orr, Detroit emergency financial manager, smiles while answering a reporters question during an interviewed on Wednesday, March 20, 2013, in Detroit. The newly appointed emergency manager charged with getting Detroit’s finances back on track is welcoming input from city officials as he begins his job next week. (AP Photo/Duane Burleson)</p><p>Kevyn Orr, Detroit emergency financial manager, gestures while responds to a reporters question while being interviewed on Wednesday, March 20, 2013, in Detroit. The newly appointed emergency manager charged with getting Detroit’s finances back on track is welcoming input from city officials as he begins his job next week. (AP Photo/Duane Burleson)</p><p>Kevyn Orr, Detroit emergency financial manager, responds to a reporters question while being interviewed on Wednesday, March 20, 2013, in Detroit. The newly appointed emergency manager charged with getting Detroit’s finances back on track is welcoming input from city officials as he begins his job next week. (AP Photo/Duane Burleson)</p><p>FILE - In this March 14, 2013 file photo, Washington-based attorney Kevyn Orr speaks at a news conference in Detroit. Orr starts work Monday, March 25, 2013, as Detroit’s emergency manager and the turnaround expert says his first tasks will be reviewing the city’s financial data and listening. (AP Photo/Paul Sancya, File)</p><p>FILE - In this March 14, 2013 file photo, Washington-based attorney Kevyn Orr, left, speaks at a news conference in Detroit as Michigan Gov. Rick Snyder listens. Orr starts work Monday, March 25, 2013, as Detroit’s emergency manager and the turnaround expert says his first tasks will be reviewing the city’s financial data and listening. (AP Photo/Paul Sancya, File)</p><p>FILE - In this March 14, 2013 file photo is the skyline of the city of Detroit. Kevyn Orr, Detroit’s state-appointed emergency manager, has yet to step into his Detroit office, but the acclaimed bankruptcy lawyer knows the clock already is ticking down on the future of the city and an 18-month stint in which he’ll try to complete what he says will be one of the greatest fiscal turnarounds in U.S. history. (AP Photo/Paul Sancya, File)</p><p>Jackie Turnboe, from Detroit Mich., protests outside the offices of JonesDay Monday, March 25, 2013, in Cleveland. Detroit's new emergency manager, Kevyn Orr, said Monday he would offer a "sincere olive branch" to council members who fought against creating his job. Orr recently resigned from JonesDay. (AP Photo/Tony Dejak)</p><p>Sylvester Davis, from Detroit Mich., protests outside the offices of JonesDay Monday, March 25, 2013, in Cleveland. Detroit's new emergency manager, Kevyn Orr, said Monday he would offer a "sincere olive branch" to council members who fought against creating his job. Orr recently resigned from JonesDay JonesDay was just hired to direct the restructuring of the city of Detroit. (AP Photo/Tony Dejak)</p> http://macieklew.newsvine.com/_news/2013/03/14/17311984-old-age-should-not-be-approached-with-horror-yvonne-roberts-comment-is-free-the-guardianhttp://macieklew.newsvine.com/_news/2013/03/14/17311984-old-age-should-not-be-approached-with-horror-yvonne-roberts-comment-is-free-the-guardianhealthcarehorrorfinancesretirementsocietyukold-ageolder-peopleThu, 14 Mar 2013 14:53:25 +0000http://activitystrea.ms/schema/1.0/posthttp://activitystrea.ms/schema/1.0/bookmark http://cornhusker4palin.newsvine.com/_news/2013/03/14/17305492-reuters-obama-admin-to-let-spy-agencies-scour-americans-financeshttp://cornhusker4palin.newsvine.com/_news/2013/03/14/17305492-reuters-obama-admin-to-let-spy-agencies-scour-americans-financesprivacypoliticsspiesgovernmentagenciesobamafinancesbig-governmentThu, 14 Mar 2013 06:15:21 +0000http://activitystrea.ms/schema/1.0/posthttp://activitystrea.ms/schema/1.0/bookmark http://somedude68-1.newsvine.com/_news/2013/03/13/17301664-obama-administration-to-let-spy-agencies-scour-americans-financeshttp://somedude68-1.newsvine.com/_news/2013/03/13/17301664-obama-administration-to-let-spy-agencies-scour-americans-financeswhite-housebanktreasury-departmentobamafinancesus-newscentral-intelligence-agencynational-intelligencesuspicious-activityobama-adminWed, 13 Mar 2013 23:37:30 +0000http://activitystrea.ms/schema/1.0/posthttp://activitystrea.ms/schema/1.0/bookmark http://william2310.newsvine.com/_news/2013/03/13/17297977-celebrities-teaching-good-money-management-tipshttp://william2310.newsvine.com/_news/2013/03/13/17297977-celebrities-teaching-good-money-management-tipsentertainmentmoneycelebssavingtonight-showcelebritiesfinancesconan-obrienmarie-clairestarsmariska-hargitayzooey-deschanelsWed, 13 Mar 2013 15:52:06 +0000http://activitystrea.ms/schema/1.0/posthttp://activitystrea.ms/schema/1.0/bookmark http://www.newsvine.com/_news/2013/03/12/17278042-records-detroit-emergency-manager-had-tax-lienshttp://www.newsvine.com/_news/2013/03/12/17278042-records-detroit-emergency-manager-had-tax-liensusmanagerdetroitfinancesus-newsdetroit-city-councilchrysler-llcemergency-managerfixing-detroitTue, 12 Mar 2013 07:02:23 +0000http://activitystrea.ms/schema/1.0/posthttp://activitystrea.ms/schema/1.0/generic_post<p>City Council representative Irwin Corley speaks at a hearing in the Treasury Department over the appointment of an Emergency Financial Manager for Detroit on Tuesday, March 12, 2013 in Lansing. The Detroit city council members made a longshot appeal of the state's declaration that the city has no adequate plan to fix its fiscal crisis, arguing that more time is needed to implement a budget-cutting deal reached with the state less than a year ago. In a report to Gov. Rick Snyder last month, a state-appointed review board declared that Detroit was facing a financial emergency because of its $14 billion of debt, $327 million budget deficit and other issues. (AP Photo/Detroit News, Dale G. Young) DETROIT FREE PRESS OUT; HUFFINGTON POST OUT </p><p>Detroit City Councils' Charles Pugh speaks with the media after a morning hearing in the Treasury Department over the appointment of an Emergency Financial Manager for Detroit on Tuesday, March 12, 2013 in Lansing. The Detroit city council members made a longshot appeal of the state's declaration that the city has no adequate plan to fix its fiscal crisis, arguing that more time is needed to implement a budget-cutting deal reached with the state less than a year ago. In a report to Gov. Rick Snyder last month, a state-appointed review board declared that Detroit was facing a financial emergency because of its $14 billion of debt, $327 million budget deficit and other issues. (AP Photo/Detroit News, Dale G. Young) DETROIT FREE PRESS OUT; HUFFINGTON POST OUT </p><p>Mary MacDowell presides as Detroit city council representatives speak at a hearing in the Treasury Department over the appointment of an Emergency Financial Manager for Detroit on Tuesday, March 12, 2013 in Lansing. The Detroit city council members made a longshot appeal of the state's declaration that the city has no adequate plan to fix its fiscal crisis, arguing that more time is needed to implement a budget-cutting deal reached with the state less than a year ago. In a report to Gov. Rick Snyder last month, a state-appointed review board declared that Detroit was facing a financial emergency because of its $14 billion of debt, $327 million budget deficit and other issues. (AP Photo/Detroit News, Dale G. Young) DETROIT FREE PRESS OUT; HUFFINGTON POST OUT </p><p>City Council representative Edward Keelan speak with Michigan Treasury Department representative Frederick Headen after a morning hearing in the Treasury Department over the appointment of an Emergency Financial Manager for Detroit on Tuesday, March 12, 2013 in Lansing. The Detroit city council members made a longshot appeal of the state's declaration that the city has no adequate plan to fix its fiscal crisis, arguing that more time is needed to implement a budget-cutting deal reached with the state less than a year ago. In a report to Gov. Rick Snyder last month, a state-appointed review board declared that Detroit was facing a financial emergency because of its $14 billion of debt, $327 million budget deficit and other issues. (AP Photo/Detroit News, Dale G. Young) DETROIT FREE PRESS OUT; HUFFINGTON POST OUT </p><p>From left, Detroit city council members Charles Pugh, Andre Spivey, Ken Cockrel Jr and James Tate listen as their representatives speak at a hearing in the Treasury Department over the appointment of an Emergency Financial Manager for Detroit on Tuesday, March 12, 2013 in Lansing. The members made a longshot appeal of the state's declaration that the city has no adequate plan to fix its fiscal crisis, arguing that more time is needed to implement a budget-cutting deal reached with the state less than a year ago. In a report to Gov. Rick Snyder last month, a state-appointed review board declared that Detroit was facing a financial emergency because of its $14 billion of debt, $327 million budget deficit and other issues. (AP Photo/Detroit News, Dale G. Young) DETROIT FREE PRESS OUT; HUFFINGTON POST OUT </p><p>City Council representative Edward Keelan speaks at a hearing in the Treasury Department over the appointment of an Emergency Financial Manager for Detroit on Tuesday, March 12, 2013 in Lansing. The Detroit city council members made a longshot appeal of the state's declaration that the city has no adequate plan to fix its fiscal crisis, arguing that more time is needed to implement a budget-cutting deal reached with the state less than a year ago. In a report to Gov. Rick Snyder last month, a state-appointed review board declared that Detroit was facing a financial emergency because of its $14 billion of debt, $327 million budget deficit and other issues. (AP Photo/Detroit News, Dale G. Young) DETROIT FREE PRESS OUT; HUFFINGTON POST OUT </p><p>This undated photo provided by Jones Day shows attorney Kevyn Orr. Michigan Gov. Rick Snyder announced Thursday, March 14, 2013 that Orr, a bankruptcy expert who represented automaker Chrysler LLC during its successful restructuring, has been named Detroit's emergency manager. (AP Photo/Courtesy Jones Day) </p><p>Kevyn Orr listens to a question during a news conference in Detroit, Thursday, March 14, 2013. Gov. Rick Snyder announced that he had chosen Orr, a partner in the Cleveland-based law and restructuring Jones Day firm, as Detroit's emergency manager. Snyder's already declared a financial emergency in Detroit, saying local officials lacked a plan to solve it. (AP Photo/Paul Sancya) </p><p>Kevyn Orr, center, speaks at a news conference as Detroit Mayor Dave Bing, left, and Gov. Rick Snyder listen in Detroit, Thursday, March 14, 2013. Snyder announced that he had chosen Kevyn Orr, a partner in the Cleveland-based law and restructuring Jones Day firm, as Detroit's emergency manager. Snyder's already declared a financial emergency in Detroit, saying local officials lacked a plan to solve it. (AP Photo/Paul Sancya) </p><p>Detroit Mayor Dave Bing, left, Gov. Rick Snyder and Kevyn Orr, right, listen to a question during a news conference in Detroit, Thursday, March 14, 2013. Snyder announced that he had chosen Orr, a partner in the Cleveland-based law and restructuring Jones Day firm, as Detroit's emergency manager. Snyder's already declared a financial emergency in Detroit, saying local officials lacked a plan to solve it. (AP Photo/Paul Sancya) </p><p>Detroit Mayor Dave Bing, from left, Gov. Rick Snyder and Kevyn Orr, arrive at a news conference in Detroit, Thursday, March 14, 2013. Snyder announced that he had chosen Orr, a partner in the Cleveland-based law and restructuring Jones Day firm, as Detroit's emergency manager. Snyder's already declared a financial emergency in Detroit, saying local officials lacked a plan to solve it. (AP Photo/Paul Sancya) </p><p>Kevyn Orr anwsers a question during a news conference in Detroit, Thursday, March 14, 2013. Gov. Rick Snyder announced that he had chosen Orr, a partner in the Cleveland-based law and restructuring Jones Day firm, as Detroit's emergency manager. Snyder's already declared a financial emergency in Detroit, saying local officials lacked a plan to solve it. (AP Photo/Paul Sancya) </p><p>Kevyn Orr, left, speaks as as Michigan Gov. Rick Snyder listens during a news conference in Detroit, Thursday, March 14, 2013. Snyder announced Thursday that he had chosen Orr, a partner in the Cleveland-based law and restructuring Jones Day firm, as Detroit's emergency manager. Snyder's already declared a financial emergency in Detroit, saying local officials lacked a plan to solve it. (AP Photo/Paul Sancya) </p><p>The skyline of the city of Detroit is shown Thursday, March 14, 2013. Gov. Rick Snyder announced that he has chosen Kevyn Orr, a partner in the Cleveland-based law and restructuring Jones Day firm, as Detroit's emergency manager. Snyder's already declared a financial emergency in Detroit, saying local officials lacked a plan to solve it. The move makes Detroit the largest city in the U.S. to have its finances placed under state control. (AP Photo/Paul Sancya) </p><p>Kevyn Orr, right, reacts to a question as Detroit Mayor Dave Bing, left, and Gov. Rick Snyder, center, listen during a news conference in Detroit, Thursday, March 14, 2013. Snyder announced that he had chosen Orr, a partner in the Cleveland-based law and restructuring Jones Day firm, as Detroit's emergency manager. Snyder's already declared a financial emergency in Detroit, saying local officials lacked a plan to solve it. (AP Photo/Paul Sancya) </p> http://www.newsvine.com/_news/2013/03/04/17181781-liverpool-debt-rises-to-130m-as-team-struggleshttp://www.newsvine.com/_news/2013/03/04/17181781-liverpool-debt-rises-to-130m-as-team-strugglessportssoccerfinancesliverpoolMon, 4 Mar 2013 17:50:28 +0000http://activitystrea.ms/schema/1.0/posthttp://activitystrea.ms/schema/1.0/generic_post<p>Liverpool's Luis Saurez scores from a free kick against Wigan Athletic during the English Premier League soccer match at the DW Stadium, Wigan, England, Saturday March 2, 2013. Liverpool won the match 0-4. (AP Photo/PA, Clint Hughes) UNITED KINGDOM OUT NO SALES NO ARCHIVE</p> http://www.newsvine.com/_news/2013/03/02/17160241-who-will-take-on-job-of-fixing-detroits-financeshttp://www.newsvine.com/_news/2013/03/02/17160241-who-will-take-on-job-of-fixing-detroits-financesmidetroitfinancesus-newsSat, 2 Mar 2013 17:59:49 +0000http://activitystrea.ms/schema/1.0/posthttp://activitystrea.ms/schema/1.0/generic_post<p>Gov. Rick Snyder declares a financial emergency during a broadcast in Detroit, Friday, March 1, 2013. The determination could lead to the appointment of an emergency manager over the city's finances. (AP Photo/Paul Sancya) </p> http://www.newsvine.com/_news/2013/03/01/17148034-detroit-mayor-opposes-financial-emergency-appealhttp://www.newsvine.com/_news/2013/03/01/17148034-detroit-mayor-opposes-financial-emergency-appealusmanagercity-councildetroitfinancesus-newsemergency-managerrick-snyderdetroit-mayor-dave-bingmayor-dave-bingFri, 1 Mar 2013 17:02:24 +0000http://activitystrea.ms/schema/1.0/posthttp://activitystrea.ms/schema/1.0/generic_post<p>FILE - In this Feb. 21, 2013 file photo, Michigan Gov. Rick Snyder discusses the effect of Detroit's drastic population loss over 60 years, which he says is the main reason for the city's financial woes during a news conference at his office in Detroit. Snyder said Friday, March 1, that he has declared a financial emergency in Detroit, a determination that could lead to the appointment of an emergency manager over the city's finances. (AP Photo/Carlos Osorio, File)</p><p>Gov. Rick Snyder declares a financial emergency during a broadcast in Detroit, Friday, March 1, 2013. The determination could lead to the appointment of an emergency manager over the city's finances. (AP Photo/Paul Sancya)</p><p>Gov. Rick Snyder declares a financial emergency during a broadcast in Detroit, Friday, March 1, 2013. The determination could lead to the appointment of an emergency manager over the city's finances. (AP Photo/Paul Sancya) </p><p>Gov. Rick Snyder tells the Associated Press he will declare a financial emergency prior his television broadcast in Detroit, Friday, March 1, 2013. Snyder declared a financial emergency in Detroit on Friday, pushing the city closer to having a state-appointed emergency manager control its finances. (AP Photo/Paul Sancya)</p><p>Gov. Rick Snyder tells the Associated Press he will declare a financial emergency prior his television broadcast in Detroit, Friday, March 1, 2013. Snyder declared a financial emergency in Detroit on Friday, pushing the city closer to having a state-appointed emergency manager control its finances. Snyder told The Associated Press that his decision on whether to appoint an emergency manager will come after the city's 10-day appeals process, but that Detroit will be "on the path" to having the state oversee its books if he turns down any such appeal. Detroit Mayor Dave Bing's office already has been notified of a March 12 hearing date, Snyder said. (AP Photo/Paul Sancya)</p><p>Detroit Mayor Dave Bing is interviewed in his office, Wednesday, March 6, 2013. The mayor says he believes Michigan Gov. Rick Snyder will appoint an emergency manager over the city's finances and that he "intends to work collaboratively" with that person. Bing says he's considering whether to appeal a determination by a state-appointed review team and Snyder that Detroit has not put forward a plan to resolve the city's serious financial problem. (AP Photo/Carlos Osorio)</p><p>A photograph of a billboard is seen on Detroit Mayor Dave Bing's desk during his interview with the Associated Press, Wednesday, March 6, 2013. The mayor says he believes Michigan Gov. Rick Snyder will appoint an emergency manager over the city's finances and that he "intends to work collaboratively" with that person. Bing says he's considering whether to appeal a determination by a state-appointed review team and Snyder that Detroit has not put forward a plan to resolve the city's serious financial problem. (AP Photo/Carlos Osorio)</p><p>Detroit Mayor Dave Bing is interviewed in his office, Wednesday, March 6, 2013. The mayor says he believes Michigan Gov. Rick Snyder will appoint an emergency manager over the city's finances and that he "intends to work collaboratively" with that person. Bing says he's considering whether to appeal a determination by a state-appointed review team and Snyder that Detroit has not put forward a plan to resolve the city's serious financial problem. (AP Photo/Carlos Osorio)</p> http://www.newsvine.com/_news/2013/02/19/17019227-snyder-people-already-turning-down-detroit-jobhttp://www.newsvine.com/_news/2013/02/19/17019227-snyder-people-already-turning-down-detroit-jobusdetroitfinancesus-newsrick-snyderTue, 19 Feb 2013 19:12:01 +0000http://activitystrea.ms/schema/1.0/posthttp://activitystrea.ms/schema/1.0/generic_post<p>Michigan State Treasurer Andy Dillon discusses Detroit Financial Review Team in Detroit, Tuesday, Feb. 19, 2013. A state-appointed review team has determined Detroit is in a financial emergency, paving the way for Republican Gov. Rick Snyder to appoint an emergency manager who would need to come up with a new plan to get the city out of its fiscal crisis. (AP Photo/The Detroit News, Ricardo Thomas)</p><p>From left, Ronald Goldsberry, independent consultant, Frederick Headen, Legal Advisor for Michigan Department of Treasury and Michigan State Treasurer Andy Dillon speak at a news conference in Detroit, Tuesday, Feb. 19, 2013. (AP Photo/The Detroit News, Ricardo Thomas)</p><p>FILE - In this Oct. 24, 2012 file photo, a pedestrian walks in Greektown in downtown Detroit. A state-appointed review team Tuesday, Feb. 19, 2013 determined Detroit is in a financial emergency, paving the way for Republican Gov. Rick Snyder to appoint an emergency manager who would need to come up with a new plan to get the city out of its fiscal crisis. (AP Photo/Carlos Osorio, File)</p><p>FILE - In this Feb. 7, 2011 file photo is the Monument to Joe Louis in Detroit. A state-appointed review team Tuesday, Feb. 19, 2013 determined Detroit is in a financial emergency, paving the way for Republican Gov. Rick Snyder to appoint an emergency manager who would need to come up with a new plan to get the city out of its fiscal crisis. (AP Photo/Carlos Osorio, File)</p><p>FILE - This Oct. 24, 2012 file photo shows a graffiti-marked abandoned home north of downtown Detroit, in background. A state-appointed review team Tuesday, Feb. 19, 2013 determined Detroit is in a financial emergency, paving the way for Republican Gov. Rick Snyder to appoint an emergency manager who would need to come up with a new plan to get the city out of its fiscal crisis. (AP Photo/Carlos Osorio, File)</p><p>Michigan Gov. Rick Snyder addresses the media in his office in Detroit, Thursday, Feb. 21, 2013. The governor said that he's at least a week away from deciding if Detroit needs an emergency manager to confront its $327 million budget deficit and $14 billion long-term debt. Snyder told reporters that he considers the city's drastic population loss over 60 years to be the main reason for its financial woes. (AP Photo/Carlos Osorio)</p><p>Michigan Gov. Rick Snyder addresses the media in his office in Detroit, Thursday, Feb. 21, 2013. The governor said that he's at least a week away from deciding if Detroit needs an emergency manager to confront its $327 million budget deficit and $14 billion long-term debt. Snyder told reporters that he considers the city's drastic population loss over 60 years to be the main reason for its financial woes. (AP Photo/Carlos Osorio)</p><p>Michigan Gov. Rick Snyder addresses the media in his office in Detroit, Thursday, Feb. 21, 2013. The governor said that he's at least a week away from deciding if Detroit needs an emergency manager to confront its $327 million budget deficit and $14 billion long-term debt. Snyder told reporters that he considers the city's drastic population loss over 60 years to be the main reason for its financial woes. (AP Photo/Carlos Osorio)</p><p>Michigan Gov. Rick Snyder addresses the media in his office in Detroit, Thursday, Feb. 21, 2013. The governor said that he's at least a week away from deciding if Detroit needs an emergency manager to confront its $327 million budget deficit and $14 billion long-term debt. Snyder told reporters that he considers the city's drastic population loss over 60 years to be the main reason for its financial woes. 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