Frederick J. Sheehan

Liability Solutions

Cities are broke. Pension plan promises are in the courtroom. Insurance companies are flying blind, unable to earn a yield. Liabilities have entered a boom market; inevitable, now that the interest rate cycle has turned. The liabilities (contractual promises) of cities, pension plans, insurance companies, and many other entities will be discounted, rediscounted, and discounted…

The Exponentiality of Municipal Costs (and Some Advice for Endowments and Foundations)

The word in social media is “exponentiality” of growth. Webster’s, American Heritage, and Microsoft Word do not acknowledge it, I don’t know how to spell it, but this path-breaking discussion of rising municipal costs deserves a word from the future. The pension costs of states and municipalities in years hence are often stated in a…