How to Make Less Money (without trying)

FT.com / Companies / Banks – BBVA offers staff five years’ leave

Workforce and staffing issues have always been an interesting area to me.  The current WTF economic mess does spur creativity in those of us who like simple things  (like eating).  Courtesy of an NPR RSS feed I found my attention drawn to this article on www.ft.com describing a most creative workforce reduction idea.

BBVA is offering staff three options: first, leave of three to five
years for long-term employees who want to undertake “personal or professional projects”, with 30 per cent pay and healthcare on top;  second, a shorter working week with reduced pay; and third, special time off for up to two years for those who want to care for children or relatives or take postgraduate courses. All are voluntary and the company reserves the right to refuse those who apply.

I haven’t formulated an opinion yet.  But if you are one of the unfortunate few that has suffered a corporate mandated pay cut, this just might be the other shoe to drop.   I sent an email to John Hollon at www.workforce.com asking for his opinion.  Stay tuned.

If It Sounds Too Good To Be True…

Seniors Swindled by ‘Spin Life’ Insurance | The Financial Planner’s Briefcase | Financial Articles & Investing News | TheStreet.com

Nice article by Terry Savage on the premium financing of large amount life insurance policies to seniors who really did not need the insurance.  According to Savage, some seniors are unable to sell their policies to investors to complete the cycle (borrow money, buy insurance policy, sell insurance policy, pay off loan).  I’m a tad bit disappointed Savage did not report actual numbers of policyholders affected.

If I find some statistics on this, I’ll post them.

Lung Screening Study – CT For Cancer Has Up To 33% False Positives

Medical News: ASCO: False Positives Common in Lung Cancer CT Screening – in Meeting Coverage, ASCO from MedPage Today

A positive screen was defined as any noncalcified nodule at least four millimeters in size or other radiographic finding deemed suspicious for cancer.

A false positive was defined as a positive screen with either a completed negative work-up or at least 12 months follow-up with no cancer diagnosis, the researchers said.

Analysis showed:

* An individual’s cumulative probability of at least one false-positive CT scan was 21% after one screen and 33% after two.
* For chest X-rays, the cumulative probabilities were 9% and 15% after one and two screens, respectively.
* In a multivariate analysis, people over 64 years of age had a 34% increased risk of a false-positive CT scan.
* Of those getting a CT false positive, 6.6% had an invasive diagnostic procedure and 1.6% had major surgery, compared with 4.2% and 1.9%, respectively, for chest X-ray false positives.

There are no screening methods for lung cancer that have been shown to reduce death and illness from the disease, which is often only detected in its late stages.

According to the American Cancer Society, the five-year survival rate for localized lung cancer is 49.5%, but that falls to 20.6% for disease that has spread outside the lung and 2.8% if there are distant metastases.