I just received my annual TCP-1 letter from LLNS and a summary of the LLNS Pension Plan. Looked in pretty good shape in 2013. About 35% overfunded (funding target attainment percentage = 134.92%). This was a decrease from 2012 where it was 51% overfunded (funding target attainment percentage = 151.59%). They did note that the 2012 change in the law on how liabilities are calculated using interest rates improved the plan's position. Without the change the funding target attainment percentages would have been 118% (2012) and 105% (2013). 2013 assets = $2,057,866,902 2013 liabilities = $1,525,162,784 vs 2012 assets = $1,844,924,947 2012 liabilities = $1,217,043,150 It was also noted that a slightly different calculation method ("fair market value") designed to show a clearer picture of the plan' status as December 31, 2013 had; Assets = $2,403,098,433 Liabilities = $2,068,984,256 Funding ratio = 116.15% Its a closed plan with 3,781 participants. Of that number, 3,151 wer...
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Wow, the issue is that if LANL cannot do pits than why have LANL? Of course who else could do pits and why would they do them any better than LANL. One thing we now for sure is that Charlie McMillin was NOT fired, he left when he decided he wanted to leave and he was double plus good.
Some news
There is something on NNSA site that they are not going to budge on the fee amount being at 30 million. So that is a big disappointment for the county. It also increases that odds of more service oriented operators rather than the profit raiders. I have also heard something about Leidos being interested.
U Texas is also ramping up for a a bid.
http://www.houstonchronicle.com/news/houston-texas/houston/article/UT-System-prepares-Los-Alamos-bid-to-manage-U-S-12221340.php
The University of Texas System is pursuing what would be its biggest out-of-state contract in history as it prepares a bid to manage the Los Alamos National Laboratory, the facility responsible for the safety and reliability of the country's nuclear weapons.
Of course they have to get quotes from the usual crowd. Mello has a slight amount of credibility but why on earth would they ask a phony hack like Glen Walp? In any case U Texas would have also FIRED that guy. They could have at least mentioned that he was FIRED from LANL to give readers a heads up on what they are dealing with. Maybe Walp wants Walden University to manage the lab.
"Two Los Alamos observers who have criticized historical operations said the UT System has a fair chance to earn the facility's contract. Many entities that have shown interest in the facility are corporate, and the UT System as a manager could convey prestige, they said.
Neither expected UT to be able to fully solve the facility's problems, though.
Challenges at Los Alamos stem from its remote geographical location, mission, corporate influence and culture of secrecy, Mello said.
The reputational challenge, he said, "has roots deeper than any change of management."
Corporate influence within a management entity can create a culture too focused on profits, said Glenn Walp, a former lab investigator who uncovered millions of dollars of missing equipment and financial abuses. But it would be very difficult for a university to manage facility and production operations without corporate involvement, he said."
I do not see a big pool right now...