Smart luggage firms close because of airline battery rules

Smart luggage firms close because of airline battery rules

Raden and Bluesmart said the changes, by several major airlines in December 2017, had made business impossible. The new rules meant that luggage batteries had to be removable. The smart suitcases feature weight sensors, a built-in phone charger and location awareness - but all require battery power. "...our intent was to add ease and simplicity to your travel experience and this unforeseen policy change has made this impossible," Raden said in a message on its website, spotted by The Verge. Bluesmart's products did not feature removable batteries at all. The firm described its news as "bittersweet" in an announcement online, saying that it had sold its intellectual property to US suitcase brand Travelpro. Read More ...
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What happens when your pension fund runs out of money

What happens when your pension fund runs out of money

Now, they're thinking about selling their home and skipping their annual trip to Maine. They've already dipped into their savings. This is not the retirement they planned for. After working for 30 years as a truck driver for UPS, Van Alstyne was promised $5,141 a month by the The New York State Teamsters Conference Pension and Retirement Fund. "I hated the job from day one, but I stayed with it because I was promised a secure pension," said Van Alstyne, now 64. When he retired in 2006, he was receiving his full pension. But the fund was hit hard during the financial crisis and never fully recovered. A 2016 report projected it would run out of money as soon as 2026.   To save it from going bust, the fund cut current retirees' benefits last year by 29%. Van Alstyne's pension fell to $3,650 a month. Read More ...
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