DOCSLIB.ORG

State of Illinois State Universities Retirement System

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

State of Illinois State Universities Retirement System Compliance Examination For the Year Ended June 30, 2018 Performed as Special Assistant Auditors for the Auditor General, State of Illinois State Universities Retirement System of the State of Illinois Compliance Examination For the Year Ended June 30, 2018 Table of Contents Schedule Page(s) State Universities Retirement System Officials 1 Management Assertion Letter 2 Compliance Report Summary 3 Independent Accountant’s Report on State Compliance, on Internal Control Over Compliance, and on Supplementary Information for State Compliance Purposes 5 Independent Auditors’ Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards 9 Schedule of Findings Current Findings – State Compliance 11 Prior Findings Not Repeated 14 Financial Statement Report The System’s financial statement report for the year ended June 30, 2018, which includes the Independent Auditor’s Report, Management Discussion and Analysis, Basic Financial Statements and Notes to the Basic Financial Statements, Required Supplementary Information Other than Management Discussion and Analysis, Supplementary Information, and the Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Basic Financial Statements performed in accordance with Government Auditing Standards has been issued separately. Supplementary Information for State Compliance Purposes Summary 15 Fiscal Schedules and Analysis Summary Schedule of Appropriations and Expenditures 1 17 Comparative Schedules of Revenues and Expenses 2 18 Schedule of Administrative Expenses 3 19 Schedule of Changes in Property and Equipment 4 21 Schedule of Investment Portfolio 5 22 Schedule of Investment Expenses 6 23 Selected Account Balances 7 25 State Universities Retirement System of the State of Illinois Compliance Examination For the Year Ended June 30, 2018 Schedule Page(s) Continued Rate of Return 8 26 Revenues and Expenses 9 26 Employer Contributions 10 26 Investment Income 11 26 Member Contributions 12 27 Self-Managed Plan Investments 13 27 Future Funding and Benefit Calculations 14 28 Analysis of Operations (Unaudited) System’s Functions and Planning Program (Unaudited) 29 System Funding Progress (Unaudited) 30 Locally Held Funds (Unaudited) 32 Average Number of System Employees (Unaudited) 32 Schedule of Investment Commissions (Unaudited) 33 Description of Reserves (Unaudited) 35 Analysis of Revenues and Expenses (Unaudited) 36 Analysis of Administrative Expenses (Unaudited) 36 Schedule of Accounts Receivable (Unaudited) 37 Retirement Benefits (Unaudited) 38 Survivors’ Benefits (Unaudited) 38 Disability Benefits Defined Benefit Plan (Unaudited) 38 Disability Retirement Allowance Benefits (Unaudited) 38 Benefit Costs (Unaudited) 39 Schedule of Changes in Reserves (Unaudited) 40 Schedule of Contributions/Deductions and Effect on Investments 41 (Unaudited) Selected Activity Measures and Service Efforts and 42 Accomplishments (Unaudited) Investment Listing 15 43 State Universities Retirement System of the State of Illinois For the Year Ended June 30, 2018 System Officials Executive Director Mr. Martin Noven Chief Financial Officer Ms. Phyllis Walker (7/1/16 – 5/31/18) Ms. Tara Myers (1/2/18 – present) Chief Investment Officer Mr. Doug Wesley General Counsel Ms. Bianca Green Director of Internal Audit Mr. Steven Hayward Chairperson Mr. Tom Cross Vice Chairperson Mr. John Engstrom Treasurer Mr. Dennis Cullen Board of Trustees Mr. Aaron Ammons Mr. Mark Cozzi Mr. Fred Giertz Mr. Paul Johnson, Jr. (term expired June 2018) Mr. Craig McCrohon (term expired June 2018) Mr. Steven Rock Mr. Collin Van Meter Mr. Antonio Vasquez Office Location 1901 Fox Drive Champaign, Illinois 61820 1 1901 Fox Drive, Champaign, IL 61820-7333 800-275-7877 • 217 -378-8800 • (Fax) 217-378-9800 SURS www.surs.org STATE UNIVERSITIES RETIREMENT SYSTEM January 29, 2019 BKD, LLP Certified Public Accountants 225 North Water Street, Suite400 Decatur, IL 62523 Ladies and Gentlemen: We are responsible for the identification of, and compliance with, all aspects oflaws, regulations, contracts, or grant agreements that could have a material effect on the operations of the State Universities Retirement System. We are responsible for and we have established and maintained an effective system of internal controls over compliance requirements. We have pe1fonned an evaluation of the State Universities Retirement System's compliance with the following assertions during the year ended June 30, 2018. Based on this evaluation, we assert that during the year ended June 30, 2018 the State Universities Retirement System has materially complied with the assertions below. A. The State Universities Retirement System has obligated, expended, received and used public funds of the State in accordance with the purpose for which such funds have been appropriated or otherwise authorized by law. B. The State Universities Retirement System has obligated, expended, received and used public funds of the State in accordance with any limitations, restrictions, conditions or mandatory directions imposed by law upon such obligation, expenditure, receipt or use. C. The State Universities Retirement System has complied, in all material respects, with applicable laws and regulations, including the State uniform accounting system, in its financial and fiscal operations. D. State revenues and receipts collected by the State Universities Retirement System are in accordance with applicable laws and regulations and the accounting and recordkeeping of such revenues and receipts is fair, accurate and in accordance with law. E. Money or negotiable securities or similar assets handled by the State Universities Retirement System on behalf of the State or held in trust by the State Universities Retirement System of Illinois have been properly and legally administered, and the accounting and recordkeeping relating thereto is proper, accurate and in accordance with law. Yours very truly, State Universities Retirement System SIGNED ORIGINAL ON FILE SIGNED ORIGINAL ON FILE Martin Noven, Executive Director Tara Myers, Chief Financial Officer SIGNED ORIGINAL ON FILE SIGNED ORIGINAL ON FILE Douglas Wesley, Chieflnvestment Officer Bianca Green, General Counsel 2 Compliance Report State Universities Retirement System of the State of Illinois Compliance Report Summary For the Year Ended June 30, 2018 The compliance testing performed during this examination was conducted in accordance with Government Auditing Standards and in accordance with the Illinois State Auditing Act. Accountant’s Reports The Independent Accountant’s Report on State Compliance, on Internal Control Over Compliance, and on Supplementary Information for State Compliance Purposes does not contain scope limitations, disclaimers or other significant non-standard language. Summary of Findings Current Prior Number of Report Report Findings 1 1 Repeated findings 1 1 Prior recommendations implemented or not repeated — — Schedule of Findings Item No. Page Description Finding Type Findings (State Compliance) 2018-001 11 Noncompliance with the Illinois Pension Code Noncompliance 3 State Universities Retirement System of the State of Illinois Compliance Report Summary For the Year Ended June 30, 2018 Schedule of Findings Item No. Page Description Finding Type Prior Findings Not Repeated None Exit Conference System officials waived a formal exit conference in correspondence dated January 8, 2019. Responses to the recommendations were provided by Martin Noven, Executive Director, in correspondence dated January 23, 2019. 4 BKD 225 N. Water Stre et, Suite 400 I Decatur, IL 62523-2326 CPAs & Advisors 217 .429.24111 Fax 217.429.61091 bkd.corn Independent Accountant’s Report on State Compliance, on Internal Control over Compliance, and on Supplementary Information for State Compliance Purposes Honorable Frank J. Mautino Auditor General State of Illinois Springfield, Illinois And The Board of Trustees State Universities Retirement System of Illinois Champaign, Illinois Compliance As Special Assistant Auditors for the Auditor General, we have examined the State of Illinois, State Universities Retirement System’s (System) compliance with the requirements listed below, as more fully described in the Audit Guide for Financial Audits and Compliance Attestation Engagements of Illinois State Agencies (Audit Guide) as adopted by the Auditor General, during the year ended June 30, 2018. The management of the System is responsible for compliance with these requirements. Our responsibility is to express an opinion on the System’s compliance based on our examination. A. The System has obligated, expended, received and used public funds of the State in accordance with the purpose for which such funds have been appropriated or otherwise authorized by law. B. The System has obligated, expended, received and used public funds of the State in accordance with any limitations, restrictions, conditions or mandatory directions imposed by law upon such obligation, expenditure, receipt or use. C. The System has complied, in all material respects, with applicable laws and regulations, including the State uniform accounting system, in its financial and fiscal operations. D. State revenues and receipts collected by the System are in accordance with applicable laws and regulations and the accounting and recordkeeping of such
Recommended publications
  • UNITED STATES SECURITIES and EXCHANGE COMMISSION Washington, D.C

    UNITED STATES SECURITIES and EXCHANGE COMMISSION Washington, D.C

    Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2011 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-28275 PFSWEB, INC. (Exact name of registrant as specified in its charter) Delaware 75-2837058 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification Number) 500 North Central Expressway, Plano, Texas 75074 (Address of principal executive offices) (Zip code) Registrant’s telephone number, including area code: 972-881-2900 Securities registered pursuant to Section 12(b) of the Act: None Securities registered pursuant to Section 12(g) of the Act: Common Stock, par value $.001 per share Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐ Indicate by checkmark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

  • Sumter, SC 29150

    IN SPORTS: Lady Barons to face CN in 3A state tourney B1 PANORAMA Step Off! Performers from 3 states will compete in the 5th annual SERVING SOUTH CAROLINA SINCE OCTOBER 15, 1894 Lemira Golden Steppers show WEDNESDAY, FEBRUARY 22, 2017 75 CENTS C1 Family, puppy survive blaze Council approves parkway rezoning BY JIM HILLEY [email protected] Sumter City Council ap- proved an ordinance to allow multi-family apartments on the south side of Patriot Park- way near Deschamps Road at Tuesday’s regular meeting. Some residents of the area led a coordinated campaign against the proposal, and members of the public who at- tended the meeting were asked by opponents to hold up signs during council’s vote urging council to vote against the or- dinance. Martin Graf, an Air Force retiree, was one of the people passing out signs. Graf said he and other area residents were promised the area would remain agricultur- al and single dwellings when he purchased a house there. Members of council pointed SAMMY WAY / THE SUMTER ITEM out they could find no record Flames engulf a home at 104 Church St. on Tuesday morning. of any such promises and that the city would not have been involved in any agreement Tuesday morning fire guts Victorian-era Church Street home when that area was still in Sumter County. Councilman David Mer- BY ADRIENNE SARVIS inside the structure to put chant said he reached out to [email protected] out more flames. former councilmen and was He said one resident was told no such promises were After thinking everything inside the house when the made.
  • Department of Consumer Credit State of Oklahoma

    Department of Consumer Credit State of Oklahoma

    Department of Consumer Credit State of Oklahoma Helping protect Oklahoma Consumers through the regulation of consumer credit sales and consumer loans. 2015 Annual Report Scott Lesher Mary Fallin Administrator Governor Ruben Tornini Todd Lamb Deputy Administrator Lt. Governor STATE OF OKLAHOMA DEPARTMENT OF CONSUMER CREDIT November 18, 2015 The Honorable Mary Fallin Governor, State of Oklahoma 2300 N. Lincoln Blvd., Room 212 Oklahoma City, Oklahoma 73105 The Honorable Brian Bingman President Pro Tempore Oklahoma State Senate 2300 N. Lincoln Blvd., Room 422 Oklahoma City, Oklahoma 73105 The Honorable Jeffrey Hickman Speaker of the Oklahoma House of Representatives 2300 N. Lincoln Blvd., Room 401 Oklahoma City, Oklahoma 73105 Dear Governor Fallin, President Pro Tempore Bingman, and Speaker Hickman: On behalf of the Oklahoma Commission on Consumer Credit and the staff, we are pleased to submit the 2015 Annual Report for the Oklahoma Department of Consumer Credit and the Oklahoma Commission on Consumer Credit. This report contains information regarding the activities of the Department, the Commission, and the industries regulated by the Department. The Department of Consumer Credit annually licenses or registers over 10,000 credit-related organizations including supervised lenders, mortgage brokers/loan originators, mortgage lenders, deferred deposit lenders, credit service organizations, consumer litigation funders, pawn brokers, rent-to-own dealers, health spas, precious metal dealers, acceptance companies and businesses that finance goods
  • Bluestar Israel Quarterly Update Q3 2013 Final.Pptx

    Bluestar Israel Quarterly Update Q3 2013 Final.Pptx

    BlueStar Israel Equity Update Third Quarter 2013 Q2 2013 in Review & Second Half 2013 Outlook What’s Inside Ø Global developed market equities pulled back slightly in Q2 2013 while U.S. stocks, as measured by the S&P 500 index, bucked the trend and posted a rise of 2.91%. Ø The BlueStar Israel Global Index was down by 95 bps in Q2 2013 while the MSCI Israel and TA-100 indexes were down 4.16% and 2.76%, respectively. 1. The BlueStar Ø Israeli consumer stocks, which are correlated with both domestic consumption as well as consumer spending in Israel’s export markets, lead Israeli Global Equities in Q2, while the Israel Global financial and energy stocks, which lead the Israeli Global Equity market’s rebound from the Index in Q1 2012 lows, consolidated. 2013 Ø The Israeli government decided on a 2013 and 2014 budget that will result in tax increases and spending cuts and the Shekel’s sharp appreciation versus the dollar and euro eased a bit. 2-5. About the Ø Mellanox Technologies announced it will delist its shares from the Tel Aviv Stock Exchange and the TASE’s bid to be included in MSCI’s European regional indexes was declined. Both BlueStar Israel events sparked concern about the future of the local exchange. Also, Israeli corporate Global Index pyramids come under attack by The Committee on Increasing Competitiveness in the Economy and the Business Concentration Law. (including Risk/ Ø The Energy sector is asserting itself as a major player in the Israeli economy, natural gas Return Data) reserve estimates and oil estimates are rising, and the government has decided upon an export strategy, clearing up uncertainty and removing some of the risk factors associated with investing in that sector.
  • Schedule of Investments December 31, 2020 (Unaudited)

    Schedule of Investments December 31, 2020 (Unaudited)

    Schedule of Investments December 31, 2020 (Unaudited) City National Rochdale Government Money Market Fund Description Face Amount (000) Value (000) Description Face Amount (000) Value (000) U.S. Government Agency Obligations [44.9%] 0.135%, VAR United States FFCB Secured Overnight 0.183%, VAR ICE LIBOR Financing Rate+0.025%, 02/26/21 $ 25,000 $ 25,000 USD 1 Month+0.035%, 01/26/21 $ 25,000 $ 25,000 0.180%, VAR United States 0.213%, VAR ICE LIBOR Secured Overnight USD 1 Month+0.070%, Financing Rate+0.070%, 08/12/22 50,000 50,000 06/24/21 50,000 49,998 0.200%, VAR United States FNMA Secured Overnight 0.470%, VAR United States Financing Rate+0.090%, Secured Overnight 07/15/21 50,000 50,000 Financing Rate+0.360%, 01/20/22 50,000 50,000 FHLB 0.130%, 06/17/21 25,000 24,999 0.500%, VAR United States 0.169%, VAR ICE LIBOR Secured Overnight USD 1 Month+0.015%, Financing Rate+0.390%, 04/15/22 50,000 50,000 07/13/21 50,000 50,000 0.160%, VAR United States 0.350%, VAR United States Secured Overnight Secured Overnight Financing Rate+0.050%, Financing Rate+0.240%, 05/05/22 25,000 25,000 07/16/21 25,000 25,000 0.420%, VAR United States 0.310%, VAR United States Secured Overnight Secured Overnight Financing Rate+0.310%, Financing Rate+0.200%, 05/09/22 50,000 50,000 09/24/21 50,000 50,000 0.280%, VAR United States Total U.S.
  • Ecommerce Solutions

    Ecommerce Solutions

    ISSUE 2 E-Commerce Solutions 2016 Insights for Online Sellers 5 tips for better selling in Japan 4 ways to grow your Amazon business from $1M to $10M E-commerce success story: Death Wish Coffee Tips to minimize loss & maximize profits 03 Welcome! As the long summer days come to an end, many of us are putting away the flip flops and gearing up for the key shopping season -- from Halloween to the prized holiday stretch. And simply put, if your goal is to expand your e-commerce business, our goal is to help you be successful. Based on our experience helping online sellers like you, To help you protect your profits, we’ll show you how we think one of the smartest ways to increase profits is to avoid surprise VAT bills as you grow your business to start selling internationally. That’s why in this issue of overseas. And to ensure your online stores stay up E-Commerce Solutions, we’ll talk about some key things and running at full speed, our partner SellerEngine will to consider before you go global and share a case study discuss how to prevent being suspended on Amazon about how e-commerce company Death Wish Coffee, marketplaces. which produces the world’s strongest coffee, became Grow your online more profitable selling abroad. It’s an exciting issue to say the least! But before we dive in, we should point out that the views given in this Also in this magazine, our partner and award-winning magazine are those of the individual authors, and not business and bring e-commerce repricing specialist Feedvisor will share those of World First USA Inc.
  • List of Section 13F Securities

    List of Section 13F Securities

    List of Section 13F Securities 1st Quarter FY 2004 Copyright (c) 2004 American Bankers Association. CUSIP Numbers and descriptions are used with permission by Standard & Poors CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc. All rights reserved. No redistribution without permission from Standard & Poors CUSIP Service Bureau. Standard & Poors CUSIP Service Bureau does not guarantee the accuracy or completeness of the CUSIP Numbers and standard descriptions included herein and neither the American Bankers Association nor Standard & Poor's CUSIP Service Bureau shall be responsible for any errors, omissions or damages arising out of the use of such information. U.S. Securities and Exchange Commission OFFICIAL LIST OF SECTION 13(f) SECURITIES USER INFORMATION SHEET General This list of “Section 13(f) securities” as defined by Rule 13f-1(c) [17 CFR 240.13f-1(c)] is made available to the public pursuant to Section13 (f) (3) of the Securities Exchange Act of 1934 [15 USC 78m(f) (3)]. It is made available for use in the preparation of reports filed with the Securities and Exhange Commission pursuant to Rule 13f-1 [17 CFR 240.13f-1] under Section 13(f) of the Securities Exchange Act of 1934. An updated list is published on a quarterly basis. This list is current as of March 15, 2004, and may be relied on by institutional investment managers filing Form 13F reports for the calendar quarter ending March 31, 2004. Institutional investment managers should report holdings--number of shares and fair market value--as of the last day of the calendar quarter as required by Section 13(f)(1) and Rule 13f-1 thereunder.
  • Annual Report

    Annual Report

    2017 ANNUAL REPORT STATE OF OKLAHOMA DEPARTMENT OF CONSUMER CREDIT CONTENTS MISSION STATEMENT 1 ADMINISTRATOR’S REPORT 2 COMMISSION ON CONSUMER CREDIT 8 DEPARTMENT STAFF 9 ORGANIZATIONAL STRUCTURE 10 MORTGAGE LENDERS 11 MORTGAGE BROKERS 23 MORTGAGE LOAN ORIGINATORS 31 SUPERVISED LENDERS 213 DEFERRED DEPOSIT LENDERS 228 RENT-TO-OWN 231 PAWNBROKER’S 235 PRECIOUS METAL & GEM DEALERS 247 CREDIT SERVICE ORGANIZATIONS 252 HEALTH SPAS 255 NOTIFICATIONS 262 CONSUMER LITIGATION FUNDERS 331 COMMISSION MEETING MINUTES 333 Scott Lesher Administrator Email: [email protected] Telephone: (405)-521-3653 Department of Consumer Credit 3613 N.W. 56th Street, Suite 240 · Oklahoma City, OK 73112 Telephone: (405)-521-3653 · Fax: (405)-521-6740 Statewide Consumer Line: (800)-448-4904 Website: https://www.ok.gov/okdocc MISSION STATEMENT We protect and educate consumer buyers, lessees and borrowers against unfair practices, and are fair and impartial in the regulation of consumer credit transactions in Oklahoma. 1 ADMINISTRATOR’S REPORT THE ADMINISTRATOR’S REPORT INCLUDES INFORMATION PURSUANT TO TITLE 14A O.S. § 6-104 (5), AND IS EXPANDED TO INCLUDE OTHER RESPONSIBILITIES AND ACCOMPLISHMENTS OF THE DEPARTMENT OF CONSUMER CREDIT. The Department of Consumer Credit annually licenses or registers over 13,051 credit-related organizations including mortgage lenders, mortgage brokers, mortgage loan originators, supervised lenders, deferred deposit lenders, rent-to-own dealers, pawnbroker’s, precious metal and gem dealers, credit service organizations, health spas, consumer litigation funders, and notifications in relation to acceptance companies and businesses that finance goods and services for Oklahoma consumers. There are 6,355 licensee offices which are periodically investigated or examined.
  • Delek Group Economic Interest 14.44%

    Delek Group Economic Interest 14.44%

    Flow of Natural Gas from Tamar Field Restarted Tel Aviv, September 27, 2017. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces that attached is an Immediate Report published by Delek Drilling Limited Partnership (“the Partnership”) concerning the restart of the flow of natural gas from the Tamar field. Further to what was stated in the Partnership’s Immediate Report dated September 23, 2017 concerning locating a crack in the exhaust pipe used on the Tamar platform to release natural gas and pressure both in normal and emergency times (“the Fault”) while Noble Energy Mediterranean Ltd (“the Operator”) was carrying out upgrade and improvement works on the Tamar platform, the Partnership announces that this morning the flow of natural gas was recommenced from the Tamar field after the Operator had completed the repair of the fault yesterday. It should be noted that the Operator is continuing to carry out the planned upgrade works. It should also be noted, according to the Partnership’s estimates, that the costs of repair of the Fault and its impact on the Partnership’s revenues from sales of natural gas are not material, as detailed in the Immediate Report of September 23, 2017. Partners in the Tamar Project and their percentage holdings: Noble Energy Mediterranean Ltd 32.50% Isramco Negev 2, Limited Partnership 28.75% Delek Drilling Limited Partnership 22.00% Tamar Petroleum Ltd 9.25% Dor Gas Exploration Limited Partnership 4.00% Everest Infrastructure Limited Partnership 3.50% Delek Group economic interest 14.44% This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on September 27, 2017.
  • Ally Financial Inc.(GOM) 10-K

    Ally Financial Inc.(GOM) 10-K

    Ally Financial Inc. (GOM) 10-K Annual report pursuant to section 13 and 15(d) Filed on 02/25/2011 Filed Period 12/31/2010 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2010, or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-3754 ALLY FINANCIAL INC. (Exact name of registrant as specified in its charter) Delaware 38-0572512 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 200 Renaissance Center P.O. Box 200 Detroit, Michigan 48265-2000 (Address of principal executive offices) (Zip Code) (866) 710-4623 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act (all listed on the New York Stock Exchange): Title of each class 6.00% Debentures due April 1, 2011 7.35% Notes due August 8, 2032 10.00% Deferred Interest Debentures due December 1, 2012 7.25% Notes due February 7, 2033 10.30% Deferred Interest Debentures due June 15, 2015 7.375% Notes due December 16, 2044 7.30% Public Income Notes (PINES) due March 9, 2031 Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
  • Majority of U.S. Businesses Say Pandemic Will Change Future Operations

    Majority of U.S. Businesses Say Pandemic Will Change Future Operations

    Majority of U.S. Businesses Say Pandemic Will Change Future Operations May 26, 2020 LiveArea study finds most plan to invest in digital solutions NEW YORK, May 26, 2020 (GLOBE NEWSWIRE) -- More than half (54 percent) of U.S. companies are likely to overhaul their long-term business strategies as a result of the COVID-19 pandemic, with 51 percent looking to invest in digital technologies, according to research conducted by Opinium and LiveArea, a customer experience and commerce agency, and business unit of PFSweb, Inc., (NASDAQ: PFSW). Key data findings from the LiveArea study include: 43 percent of respondents are prioritizing investment in digital commerce 41 percent of respondents are focusing on IT infrastructure investment to support the transition to digital Business Agility 34 percent of respondents are considering outsourcing IT activities 33 percent of respondents are looking to outsource marketing activities The May 2020 research also found the general economic downturn is a concern to 58 percent of respondents, while 53 percent say they are concerned about a drop in sales. In terms of measures to limit the impact, businesses most desire clarity (55%) from the Government, followed by increased intervention and financial support, including access to grants and loans (40%). “The impact of COVID-19 on U.S. businesses will be lasting. The companies that move quickly to transition to a digital-first approach will be the brands that survive and, if the strategy is executed smartly and swiftly, stand to flourish in a post-COVID world,” said Jim Butler, Executive Vice President and General Manager of LiveArea.
  • The CEO Action for Diversity & Inclusion™ Aims to Rally the Business Community to Advance Diversity & Inclusion Within

    The CEO Action for Diversity & Inclusion™ Aims to Rally the Business Community to Advance Diversity & Inclusion Within

    The CEO Action for Diversity & Inclusion™ aims to rally the business community to advance diversity & inclusion within the workplace by working collectively across organizations and sectors. It outlines a specific set of actions the undersigned companies will take to cultivate a trusting environment where all ideas are welcomed and employees feel comfortable and empowered to discuss diversity & inclusion. All the signatories serve as leaders of their companies and have committed to implementing the following pledge within their workplaces. Where companies have already implemented one or several of the commitments, the undersigned commit to support other companies in doing the same. The persistent inequities across our country underscore our urgent, national need to address and alleviate racial, ethnic and other tensions and to promote diversity within our communities. As leaders of some of America’s largest corporations, we manage thousands of employees and play a critical role in ensuring that inclusion is core to our workplace culture and that our businesses are representative of the communities we serve. Moreover, we know that diversity is good for the economy; it improves corporate performance, drives growth and enhances employee engagement. Simply put, organizations with diverse teams perform better. We recognize that diversity & inclusion are multifaceted issues and that we need to tackle these subjects holistically to better engage and support all underrepresented groups within business. To do this, we believe we also need to address honestly and head-on the concerns and needs of our diverse employees and increase equity for all, including Blacks, Latinos, Asians, Native Americans, LGBTQ, disabled, veterans and women.