This is not an academic question. The more we think about what we mean by retirement, the more we will understand that retirement is an invention, and a fairly recent one. Recognizing that should remind us that we are in control of our future. If we need to reinvent retirement ��something that seems very likely ��that�� fine. After all, we��e done it before.
History Lesson:� I��e Been Working on the Railroad
The short (albeit incomplete) answer to the question of who invented retirement is ��he railroads.��But in order to explain that, and explain why that matters, we need to understand that retirement was not simply part of the natural order of things .
Check out the following chart. It shows the percentage of men over the age of 65 still in the workforce �from the last part of the 19th�century through the 20th:
click to enlargeAt one time, when most Americans still worked on farms or in trades, you were expected to contribute economically throughout your life, even after you shifted away from hard labor as you aged. Once manufacturing took over the lion�� share of the workforce, most men worked past 65 unless they were disabled. Clearly something began to change as we reached the 20th�century.
What changed was the nature of work. No longer tied to farms or trades, the workforce became more mobile. One of the ideas for encouraging greater stability was the creation of the workplace pension plan. In 1880, the Baltimore and Ohio Railroad took the plunge and established a pension plan to cover its 77,000 employees. The idea of a paid retirement took root .
Pension plans soon! revealed an unexpected benefit: they helped manage the workforce. Railroad work was difficult and dangerous; pensions encouraged older workers to retire and allow younger workers to take over demanding jobs. (For more, see�here.) Pension plans began to spread in the private sector, supported by the government through favorable revenue acts, peaking at 45% of workers by the 1980s. (A useful chronology can be found�here)
Public employee pensions also grew. When Social Security was enacted in 1935, 65 was established as the normal retirement age, completing the ��nvention��of what we now consider retirement .
The Past is Prologue
Today, retirement is changing. 65 may no longer be the normal age for retirement and increasingly we need to�pay for retirement ourselves through savings. But think about where we are compared to previous generations. We live longer, are healthier and have more human capital.
What�� happening today is that we are emerging into a new retirement that we are creating just as we as a society created the ��ld��retirement less than 100 years ago. While it may be an uneasy transition, we can each try to stay in control of this new retirement through our personal actions, through the leaders we elect and through the choices we make in the marketplace.
Top 10 Railroad Companies To Own In Right Now: Orbitz Worldwide Inc.(OWW)
Orbitz Worldwide, Inc. operates as an online travel company worldwide. It enables leisure and business travelers to search for and book a range of travel products and services. The company offers various products and services comprising air travel, hotels, vacation packages, car rentals, cruises, travel insurance, as well as destination services, such as ground transportation, event tickets, and tours. Its brand portfolio includes Orbitz, CheapTickets, The Away Network, and Orbitz for Business in the United States; ebookers in Europe; and HotelClub and RatesToGo internationally. Orbitz Worldwide, Inc. also licenses its technology and business services to third parties, such as airlines and hotel partners and provides them various private label solutions, including building and hosting of custom Websites and supplying content feeds to partners' Websites. The company was founded in 2000 and is headquartered in Chicago, Illinois. Orbitz Worldwide, Inc. is a subsidiary of Trav elport Limited.
Advisors' Opinion:- [By Adam Levine-Weinberg]
However, while other airlines have used the carry-on-bag fee primarily as a tool for boosting revenue through price discrimination, Frontier's carry-on-bag fee is much different ��at least for now. Frontier is only charging a carry-on-bag fee for passengers who book their tickets through third-party channels, such as online travel agencies like Orbitz (NYSE: OWW ) . The purpose of this fee is to entice more passengers to book through Frontier's own website, so the carrier can cut down on travel agency commissions.
- [By Dan Caplinger]
What has set Priceline apart is its global business. The company did a much better job than Expedia and its other competitors of setting up an international network of travel destinations, and its booking.com business has been immensely profitable in offering worldwide accommodations. That's a big reason why Orbitz (NYSE: OWW ) has only recently managed to return to profitability, as despite its substantial revenue gains, Orbitz has almost no business outside North America.
- [By Jeremy Bowman]
What: Shares of Orbitz Worldwide (NYSE: OWW ) were losing altitude today, falling by as much as 24% after the company released third-quarter earnings this morning.
- [By Inyoung Hwang]
Orbitz Worldwide Inc. (OWW) in August projected third-quarter revenue would be higher than analysts estimated. Orbitz, which gets 72 percent of sales from the U.S., has rallied 219 percent in 2013 and beaten estimates the last two quarters. The company is scheduled to report results for the third quarter on Nov. 5.
Top 10 Railroad Companies To Own In Right Now: Stakis(SKS.L)
Shanks Group plc operates as a waste and resource management company that provides waste management solutions in the Netherlands, Belgium, the United Kingdom, and Canada. The company involves in the collection, transfer, recycling, and treatment of non-hazardous solid waste; industrial cleaning, transportation, treatment, and disposal of contaminated soils, as well as remediation of contaminated land; and anaerobic digestion and tunnel composting of source segregated organic waste streams. It also engages in the landfill disposal activities, including contaminated soils; generation of power from landfill gas; and municipal waste treatment contracts and mineral extraction businesses. The company was founded in 1880 and is headquartered in Milton Keynes, the United Kingdom.
Best Growth Stocks To Buy For 2015: Teekay Corporation(TK)
Teekay Corporation engages in the marine transportation of crude oil and gas in Bermuda and internationally. Its Shuttle Tanker and FSO segment operates shuttle tankers, and floating storage and off-take (FSO) units for offloading and transportation of cargo from oil field installations to onshore terminals; and provides floating storage services for oil field installations. The company?s FPSO segment provides floating production, processing, and storage services through floating production, storage, and offloading (FPSO) units. Its Liquefied Gas segment comprises liquefied natural gas (LNG) and liquefied petroleum gas carriers. The company?s Conventional Tanker segment operates conventional crude oil and product tankers that are employed on long-term fixed-rate time-charter contracts. As of December 31, 2010, its fleet consisted of 151 vessels, including 11 vessels under construction. The company serves energy and utility companies, oil traders, oil and LNG consumers, p etroleum product producers, government agencies, and various other entities that depend upon marine transportation. Teekay Corporation was founded in 1973 and is headquartered in Vancouver, Canada.
Top 10 Railroad Companies To Own In Right Now: Global Sources Ltd.(GSOL)
Global Sources Ltd. operates as a business-to-business media company primarily in greater China. It provides sourcing information to volume buyers and integrated marketing services to suppliers. The company offers trade information using online media, print media, and face-to-face events. Its products and services comprise online product information and listing services; organizing trade shows; and advertising and marketing creative services; trade publications in print and digital formats; and china sourcing reports. The company uses English-language media to facilitate trade from Greater China to the world, as well as utilizes Chinese-language media to enable companies to sell to, and within, Greater China. It delivers information on approximately 5.7 million products and approximately 262,000 suppliers annually through 14 online marketplaces, 13 monthly print and 18 digital magazines, approximately 90 sourcing research reports, and 73 specialized trade shows a year in 9 cities. The company was founded in 1970 and is based in Hamilton, Bermuda.
Advisors' Opinion:- [By Seth Jayson]
Calling all cash flows
When you are trying to buy the market's best stocks, it's worth checking up on your companies' free cash flow once a quarter or so, to see whether it bears any relationship to the net income in the headlines. That's what we do with this series. Today, we're checking in on Global Sources (Nasdaq: GSOL ) , whose recent revenue and earnings are plotted below.
Top 10 Railroad Companies To Own In Right Now: Education Realty Trust Inc. (EDR)
Education Realty Trust, Inc., a real estate investment trust (REIT), develops, acquires, owns, and manages student housing communities located near university campuses in the United States. It also provides third-party management services, including residence life and student development, marketing, leasing administration, strategic relationships, information systems, and accounting services for student housing communities owned by educational institutions and charitable foundations. In addition, the company offers third-party development consulting services, such as market analysis and evaluation of housing needs and options; co-operation with university in architectural design; negotiation of ground lease, development agreement, construction contract, architectural contract, and bond documents; oversight of architectural design process; co-ordination of governmental and university plan approvals; oversight of construction process; design, purchase, and installation of fu rniture; pre-opening marketing to students; and obtaining final approvals of construction. It provides its third-party development consulting services primarily to universities seeking to modernize their on-campus student housing communities, as well as to other third-party investors. As of December 31, 2009, the company owned 40 student housing communities located in 19 states containing 25,454 beds in 7,813 apartment units located near 35 universities. It also provided third-party management services for 20 student housing communities located in 9 states containing 10,186 beds in 3,272 apartment units at 16 universities. The company qualifies as a REIT for federal income tax purposes. As a REIT, it would not be subject to federal corporate income tax if it distributes at least 90% of its REIT taxable income to its stockholders. The company was founded in 1964 and is based in Memphis, Tennessee.
Advisors' Opinion:- [By Monica Wolfe]
Education Realty Trust (EDR)
Over the past week two insiders made some buys. Both the CEO as well as the company�� CFO made these buys.Executive VP, CFO and Treasurer Randall Brown bought 5,500 shares at $9.04 per share. This cost him a total of $49,720. The price per share has increased 1.44% since then. Brown now holds on to 99,346 shares of company stock.
- [By Rich Duprey]
College dorm room operator�Education Realty Trust (NYSE: EDR ) announced today its second-quarter dividend of $0.11 per share, a 10% hike in the payout of $0.10 per share that it made last quarter.
Top 10 Railroad Companies To Own In Right Now: NTELOS Holdings Corp.(NTLS)
NTELOS Holdings Corp., through its subsidiaries, provides wireless communications services to consumers and businesses primarily in Virginia and West Virginia, as well as parts of Maryland, North Carolina, Pennsylvania, Ohio, and Kentucky. It primarily offers wireless digital personal communications services, such as wireless voice and data products and services, and roaming/travel services under the NTELOS Wireless brand name. The company also provides wholesale network services to Sprint Nextel in the western Virginia and West Virginia area for various Sprint CDMA wireless customers. As of March 6, 2012, its wireless retail business had approximately 415,000 postpay and prepaid subscribers. The company was founded in 1897 and is headquartered in Waynesboro, Virginia.
Advisors' Opinion:- [By Lauren Pollock]
Ntelos Holdings Corp.(NTLS) said it had settled disputes with Sprint Corp.(S) related to the companies’ strategic network alliance. The settlement resolves a dispute over the reset of data rates that began in the fourth quarter of 2011, as well as unrelated billing disputes raised in the third quarter of 2012. Shares of Ntelos were up 9.7% at $17.50 in after-hours trading.
Top 10 Railroad Companies To Own In Right Now: SMURFIT KAPPA GROUP PLC ORD EUR0.001(SKG.L)
Smurfit Kappa Group Plc, together with its subsidiaries, manufactures, distributes, and sells paper-based packaging products in Europe and Latin America. It offers paper and board products comprising containerboards, solid and packaging boards, and specialty boards; base materials graphic and printing products; and packaging intermediates, including pre-printed liners, corrugated boards, sheet feedings, Fanfold, and single face corrugated products. The company also provides packaging products, including boxes, trays, cases, and wraps for fresh food packaging, and food and groceries packaging, as well as for the transport of fast-moving consumer goods; retail ready packaging products, such as shelf ready and promotional packaging products, displays, and merchandising units; bag-in-box packaging products; and primary packaging products for food, non-food, and domestic appliances. In addition, it offers postage and mail order, media and books packaging products, relocation pa ckaging, home storage products, and archive boxes; and industrial packaging products for electronic goods and components, durable goods, furniture, medical products, hazardous goods, and heavy duty goods packaging. The company serves customers in packaging concepts, development and design, supply chain management, and eBusiness solutions fields. Smurfit Kappa Group Plc was founded in 1934 and is headquartered in Dublin, Ireland.
Top 10 Railroad Companies To Own In Right Now: (JAINIRRIG.BO)
Jain Irrigation Systems Limited, an agri-business company, primarily engages in the manufacture and sale of irrigation systems, piping products, agro processed products, and plastic sheets. It offers irrigation systems and components comprising drip irrigation systems, sprinkler irrigation systems, plastic control and safety valves, fertigation systems and chemigation equipment, and water filters; PVC pipes, PE pipes and PE pipe fittings, HDPE pipes, cable duct pipes, and gas pipes; and PVC plastic sheets and poly carbonate sheets. The company also provides food processing products, such as dehydrated onions and vegetables; and agriculture products, including biofertilizers, green houses plant nurseries, and tissue cultures, as well as processed fruits. In addition, it offers solar water heating systems, solar photovoltaic systems, and biogas power plants; hybrid and grafted plants; and poly and shade houses, as well as provides services turnkey project services, and agric ultural and engineering consultancy services. Jain Irrigation Systems Limited offers its solutions and services for the urban household, urban housing, community development, mining, plant tissue culture, chemical, oil and gas exploration, optic fiber ducting, advertisement and signage, landscaping, water shed development, waste land development, fruit and vegetable processing, and farm production and management markets, as well as for small farmers, green houses, and sugar factories. It primarily operates in India, Europe, and North America. The company was founded in 1963 and is based in Jalgaon, India.
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