Aerospace analysts eager for confirmation of June Bombardier CSeries test flight

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MONTREAL - Aerospace industry observers are eagerly watching for confirmation this week that Bombardier's CSeries aircraft will make its maiden test flight next month.

Amid expectations of a weak first-quarter, analysts see the plane's progress as a potential catalyst to turn around the transportation giant's lagging share price.

Kevin Chiang of CIBC World Markets says "all eyes are turned towards the CSeries first flight" by the end of June and signals that it will avoid delays that gripped Boeing's 787 aircraft.

"If Bombardier fails to meet this milestone, then questions about whether the CSeries will follow in the footsteps of the Dreamliner will only get louder," he wrote in a report.

"In other words, the success of first flight will be used as a barometer to gauge the ability for Bombardier to execute on its CSeries program."

The first flight has been already delayed about six months from initial forecasts.

Analysts describe it as the "first domino" needed to achieve Bombardier's long-term targets of generating US$5 billion to US$8 billion of additional revenues in five years.

Joseph Nadol of JP Morgan said the CSeries remains a key issue but he isn't expecting any change from the June target date.

Turan Quettawala of Scotiabank also believes the CS100 will likely fly this summer, which will reduce the risk for the company and could lead to some orders.

He said the first-quarter has been weak for orders for both the company's aerospace and transportation divisions.

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Aerospace analysts eager for confirmation of June Bombardier CSeries test flight

Merrill Lynch Study Examines Americans’ Perspectives on New Retirement Realities and the Longevity Bonus

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NEW YORK--(BUSINESS WIRE)--

When it comes to financial goals, achieving peace of mind is seven times more important than accumulating wealth (88 percent and 12 percent, respectively) to adults age 45 and older, according to a new Merrill Lynch study, conducted in partnership with Age Wave. The study found that retirement has been redefined with people expecting to live and often work longer than any preceding generation, and taking different approaches to preparing for and living their best life during these years.

Boomers have always paved their own way, and are once again pioneering new territory, said Andy Sieg, head of Global Wealth and Retirement Solutions for Bank of America Merrill Lynch. They share a strong view that retirement is not an end but a beginning, an opportunity for reinvention. Their perspectives, concerns, goals and how they plan to achieve them are different. What they seek is clarity and confidence about what is possible in the context of their hopes and myriad uncertainties.

Completed in January 2013, the study is based on a nationwide survey of more than 6,300 respondents age 45 and older. Key findings were published today in a report titled Americans Perspectives on New Retirement Realities and the Longevity Bonus, which reveals new insights into peoples approaches to and thoughts about retirement, including:

Americans have mixed feelings about living longer and transitioning into retirement, said Ken Dychtwald, Ph.D., founder and CEO of Age Wave. While they welcome the extra time to pursue new interests and spend more time with family and friends, they are concerned about outliving their assets and experiencing a serious health disruption. Even those who have saved adequately can be anxious and often overwhelmed by this complexity and the unknowns they face.

The study also offers new insights about sources of concern and the need for guidance, including:

Most people understand that retirement planning is not a once and done proposition, said David Tyrie, head of Personal Wealth and Retirement for Bank of America Merrill Lynch. Where guidance is needed most is helping people understand how all of these variables and decisions work together over time. At Merrill Lynch, we are developing a new approach to help people carefully consider nearly all aspects of their life when planning for and living in retirement, including health care costs, family, giving, home, work, leisure and finances.

For more information about the study, Americans Perspectives on New Retirement Realities and the Longevity Bonus, please visit http://www.ml.com/2013retirementstudy.

Twitter Retirement Q&A: Beginning May 6, the @MerrillLynch Twitter handle will be taking questions on the challenges, concerns and new approaches the study reveals. Questions will be addressed on the handle on Friday, May 10, at 11 a.m. ET. Follow the @MerrillLynch Twitter handle to participate.

Methodology Americans Perspectives on New Retirement Realities and the Longevity Bonus is based on a national public opinion poll conducted online by Harris Interactive. The Merrill Lynch survey was completed from December 2012 to January 2013, in partnership with Age Wave, and included more than 6,300 respondents age 45 and older. Findings are based on 3,002 responses from the general population. In addition, select study findings are based on an oversampling of an additional 3,005 affluent respondents with $250,000 to $3 million in investable assets (including liquid cash and investments, but excluding real estate). The remaining 320 interviews included an oversample among 60- to 70-year-olds. Results were weighted as needed for age by gender, education, race/ethnicity, region and household income. Propensity score weighting was also used to adjust for respondents propensity to be online. No estimates of theoretical sampling error can be calculated.

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Merrill Lynch Study Examines Americans’ Perspectives on New Retirement Realities and the Longevity Bonus

Huntsville Fire Fighters Association seeks longevity pay hike for 1,900 full-time city workers

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HUNTSVILLE, Alabama - More than 1,900 full-time Huntsville city employees would see a significant bump in longevity pay under a proposal going before the City Council this week.

The Huntsville Fire Fighters Association is asking the council to ramp up longevity pay over the next three years to bring Huntsville more in line similar-sized cities across the Southeast.

Fire Fighters Association President Stephen Jones said the current longevity pay plan - which provides an annual benefit of $60 to $570, depending on seniority - has been static since 1968.

"It's been 45 years," Jones said Monday. "We are behind other cities. It's past time to address it."

As things stand, only employees with five or more years of continuous, full-time service are eligible for the annual longevity benefit. Those with five to nine years of service get $60; 10-14 years of service, $120; 15-19 years of service, $210; 20-24 years of service, $300; 25-29 years of service, $390; 30-34 years of service, $480; and 35 years or more, $570.

Human Resources Director Byron Thomas said longevity pay costs the city about $280,000 annually.

The firefighters association would like longevity pay benefits to kick in following the first year of continuous service to the city - and at a much higher rate.

The group is suggesting $27 for every year of full-time employment beginning Oct. 1, increasing to $45 on Oct. 1, 2014, and to $63 on Oct. 1, 2015.

A Huntsville employee with 10 years of service would see his or her current $120 longevity benefit jump to $270 this fall, $450 the following year and $630 in October 2015. A 20-year worker who now gets a $300 longevity benefit would be paid $1,260 at the end of the proposed three-step increase.

The City Council could vote on the revised longevity plan at its Thursday meeting, which starts at 6 p.m. on the ground floor of City Hall, 308 Fountain Circle.

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Huntsville Fire Fighters Association seeks longevity pay hike for 1,900 full-time city workers

Pastor Appreciates ‘Spirituality of the Chinese’ in Shen Yun

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Pastor Rob Lloyd (R) enjoys Shen Yun Performing Arts with his wife and friends at the Neal S. Blaisdell Concert Hall in Honolulu, Hawaii, on May 4, 2013.

Mr. Lloyd said he appreciated the spiritual emphasis in the performance, adding that the performance reflected the spirituality of the Chinese.

You have to be right as a person before you can go out and dance because who you are comes through in your moves and the movement of the whole piece as a whole, said Mr. Lloyd.

In traditional China, it was believed that the character of the artist was essential to creating great art. If an artist was not virtuous, their work could not be considered good no matter how it looked. Shen Yun artists follow in this tradition by practicing meditation and cultivation of character so that their performances convey the most uplifting meanings possible.

The costumes were amazing, Mr. Lloyd said. The dance routines, they make it look very simple, but it is very, very difficult moves that they do.

Mr. Lloyd said he enjoyed the orchestra that accompanied the performance. Theres a lot of texture to the music that added to the program.

Shen Yun orchestras are unique in that they consist of the foundation of a Western philharmonic orchestra but also include traditional Chinese instruments that lead the melodies.

According to the Shen Yun website, The sound produced is uniquely pleasing to the ear. The ensemble at once expresses both the grandeur of a Western orchestra and the distinct sensibilities of Chinas 5,000-year-old civilization.

This was a very family-friendly performance, Mr. Lloyd said.

Reporting by Flora Ge and Jasper Fakkert

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Pastor Appreciates ‘Spirituality of the Chinese’ in Shen Yun