Washington Post finds more holes in Rolling Stone article

NEW YORK (CNNMoney)

It also quoted one student who said Rolling Stone's claim that he "declined to be interviewed" by the magazine was wrong: "He told The Post that he never was contacted by Rolling Stone and would have agreed to an interview."

Rolling Stone declined to comment on the new assertions on Wednesday night. A spokeswoman for the magazine said an "internal review" of the article was ongoing.

The magazine apologized last Friday for its 9,000-word article, titled "A Rape on Campus," after questions were raised about some of the details in Jackie's account and about the unusual decision not to contact the alleged rapists.

"There now appear to be discrepancies in Jackie's account," the magazine said, citing -- among other things -- a Washington Post report that the man who Jackie said orchestrated the rape "denied knowing Jackie."

"We published the article with the firm belief that it was accurate," the magazine's letter to readers said. "Given all of these reports, however, we have come to the conclusion that we were mistaken in honoring Jackie's request to not contact the alleged assaulters to get their account."

The magazine said, "We apologize to anyone who was affected by the story and we will continue to investigate the events of that evening."

Related: UVA article is a miss in long history of hits

The writer of the article, Sabrina Rubin Erdely, has not responded to requests for comment since Friday's apology.

Wednesday's Washington Post report contradicted some of what Erdely wrote, and indicated that the reporting lapses extended to some of Jackie's friends.

For example, three friends who Jackie confided in after the attack -- identified as Randall, Andy and Cindy in the article -- "said they never were contacted or interviewed" by Erdely or her editors.

"Though vilified in the article as coldly indifferent to Jackie's ordeal, the students said they cared deeply about their friend's well-being and safety," according to The Post.

Erdely wrote that Randall declined to be interviewed by her, "citing his loyalty to his own frat."

But Randall told the Post that he would have spoken to Erdely, had he been asked.

In the Rolling Stone article, Jackie -- whose last name has not been published by the magazine or other major media outlets -- is said to have been raped by "seven men."

But Randall, Andy and Cindy told the Post that she initially said "a group of five men" were involved.

The attack allegedly occurred two years ago, when Jackie was a freshman. The university's failure to adequately investigate was a crucial part of Erdely's story.

"Some of Jackie's closest friends said they believe she suffered a horrific trauma during her freshman year, but others have expressed doubts about the account," the Post said.

Wednesday's story quoted Randall as saying, "If she was acting on the night of Sept. 28, 2012, then she deserves an Oscar."

Jackie spoke to the Post last week -- and indicated that she stood by the substance of her account to Rolling Stone -- but has not given any interviews since.

On Wednesday morning, attorney Palma Pustilnik said she had been retained by Jackie.

"As I am sure you all can understand, all of this has been very stressful, overwhelming and retraumatizing for Jackie and her family," Pustilnik said in a statement. "At this time, our position is still 'No Comment.'"

First Published: December 10, 2014: 8:04 PM ET

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Congress considering plan to allow pension cuts

Teamsters have started an Internet campaign that opposes proposed legislation that would allow failing multiemployer pension plans to cut benefits.

NEW YORK (CNNMoney)

Lawmakers are attempting to tack on the proposal to the government spending bill, which is expected to be voted on this week -- although backlash over other add-ons could delay the bill's passage.

While those sponsoring the pension proposal say it is "the only available option" to save failing multiemployer pension plans, other groups -- like the AARP and the Pension Rights Center -- are crying foul.

Related: Retired union workers facing 'unprecedented' pension cuts

Multiemployer pension plans cover more than 10 million workers and retirees in the trucking, manufacturing and other industries. But many of these plans have struggled in the last decade as they grapple with an aging workforce and major investment losses from the recession. Plus, many larger employers have pulled out of the plans.

That has put a major strain on the Pension Benefit Guaranty Corporation, the government agency that insures pension plans, which last month said its reserves are dangerously low.

The Congressional proposal would allow plans that are projected to run out of money in the next 10 to 20 years to cut the benefits they pay to both current and future retirees. Benefits would not be cut for disabled pensioners or those 80 years and older, while cuts would be lessened for those between 75 and 80.

The PBGC projects that more than 10% of the roughly 1,400 multiemployer pension plans, which cover more than 1 million workers and retirees, currently meet this criteria.

Under current law, cutting the benefits of those who are already retired is off-limits. Instead, troubled multiemployer plans can take other actions, like reducing the benefits employees earn going forward and raising employee and employer contributions to the plan.

If the Congressional plan passes, cuts would require participant and government approval first, although the largest troubled plans could slash benefits even if retirees vote against it.

Retired truck driver Glenn Nicodemus, 64, receives his pension checks from the Central States Southeast and Southwest Areas Pension Fund, which is struggling to cover more than 300,000 retirees, widows and others.

Under the Congressional proposal, Nicodemus could see his annual benefits plummet from around $40,000 a year to as little as $15,000.

Related: My biggest retirement mistake

"I am disappointed in the fact that such an important matter is being done is such an underhanded way with little or no discussion of the consequences to millions who will be effected," he said.

Groups like the AARP, the Pension Rights Center and some worker unions say that retirees like Nicodemus are counting on their pension benefits, which they paid for through decades of contributions, and that other measures should be taken to save plans like Central States.

But supporters of the legislation counter that allowing for benefit cuts -- along with other changes included in the legislation, like allowing troubled plans to merge with healthier plans and doubling the insurance premiums employers pay the PBGC -- will help preserve the plans for both retirees and current workers.

Related: Your pension: lump sum or monthly payments?

One Cleveland plan, for example, has said it would only need to cut current benefits by 10% in order to prevent insolvency, said Randy DeFrehn, executive director of a coalition of employers and labor unions that crafted the proposal the legislation is based on.

Without any cuts now, he said that plan expects to run out of money by 2028, at which point all participants would see their benefits cut by 50% or more.

That's because if a multiemployer plan goes insolvent, a retiree is guaranteed less than $13,000 a year. In contrast, a retiree in a single employer plan that goes bust is insured for up to $60,000.

To make matters worse, the PBGC's multiemployer insurance program is itself projected to run out of money in the next decade unless changes are made -- meaning that workers and retirees in failing plans could be left with no benefits at all.

First Published: December 10, 2014: 7:46 PM ET

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Giving up your U.S. passport? It's going to cost you

HONG KONG (CNNMoney)

A record 3,000 Americans chose to give up their passports last year, driven in part by new regulations that have turned tax preparation into a massive headache for the 7.6 million U.S. expats required to file returns while living abroad.

But as more Americans are finding, ditching the U.S. can be an expensive affair. Earlier this year, the government increased the renunciation fee to $2,350, more than four times what it used to cost.

On top of that, some U.S. citizens are slapped with a giant "exit tax" bill -- sometimes millions of dollars -- when they renounce.

The increased renunciation fee alone "is frustrating enough for the little old lady school teacher down the street," said Chris McLemore, senior counsel at Butler Snow. "But if there's somebody in exit tax land, it's obviously a much more expensive process."

The tax pain can last for years, with some former Americans on the hook for additional payments decades after they renounce.

Related: 3,000 Americans ditch their passports

"This is what really boggles everybody -- you're going to go into the U.S. embassy, you're going to swear an oath of renunciation, you're going to hand over your passport, and yet in some cases, you'll never be free from a tax perspective," said McLemore. "At the same time, you've given up all your legal rights as a citizen."

Top income earners, or those with $2 million or more in global assets -- salary, homes, retirement savings, artwork, jewelry and stocks all count -- pay tax on the current market value of their total holdings, as if they had just been sold.

"[You're] going to pay immediate tax, which effectively, is the price for the way out," McLemore said. Few wealthy individuals are exempt, and paying a professional to figure out the bill can cost thousands.

Related: Why expats are ditching their passports

Take for instance Facebook co-founder Eduardo Saverin, who was criticized for renouncing and moving to Singapore prior to Facebook's massive 2012 IPO. Saverin was on the hook for tax on gains built into his shares of the company, and any other assets he may have owned, said Summer LePree, a lawyer with Bilzin Sumberg.

"I am obligated to, and will pay hundreds of millions of dollars in taxes to the U.S. government," Saverin said in a statement at the time. "I have paid and will continue to pay any taxes due on everything I earned while a U.S. citizen."

No investment is safe: An American can be taxed on the full value of pension and retirement plans, even if those funds won't be paid out for years, said Dianne Mehany of Caplin & Drysdale.

In certain cases, assets that were subject to the exit tax could again be taxed after the owner's death -- if they are inherited by U.S. citizens, for example.

For many Americans, the decision to renounce is a gamble that could end up costing far more than staying, said McLemore.

"You're triggering a tax now, without actually taking the proceeds," he said. "This is why people with actual exit tax exposure are having to think long and hard on whether they just keep the blue passport."

Read next: Nobody escapes U.S. taxes - even astronauts

First Published: December 10, 2014: 9:17 PM ET

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Still waiting for a pay raise? You're not alone

Protesters march through a McDonalds in New York demanding a raise on the minimum wage to $15 per hour.

LONDON (CNNMoney)

Average monthly wages grew 2% in 2013, adjusted for inflation, according to a report released Thursday by the International Labour Office.

Most of that growth was driven by gains in developing countries. Take China out of the picture and the situation looks much worse. Without Chinese workers, global real wage growth shrinks to just 1.1%.

Related: 3 reasons you'll likely get a raise in 2015

The world's second largest economy saw supercharged wage growth of 7.3% last year. That's down slightly from 2012, but still ahead of most other countries. China is attempting to wean itself off of exports, and rising wages support its push to become a more consumer-led economy.

Wages in the developed world remained relatively flat as the recovery continued its slow burn. Workers in the United States saw wage growth of 0.3%.

You were more likely to get a raise if you worked in a resource-rich economy thanks to the commodities boom. Indonesia, Brazil and Australia all recorded solid wage growth.

Meanwhile, pay in Europe's beaten-down economies was stuck in reverse. Average real wages in the United Kingdom, Spain, Italy and Greece remain below their 2007 levels. The stagnation or drop in wages aggravates existing problems of anemic growth and low inflation facing the eurozone.

And it's unlikely to change anytime soon -- the region's top three economies Germany, France and Italy are either flatlining or in mired in recession.

Related: How I paid off my student loans at 26

First Published: December 4, 2014: 6:14 PM ET

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Buy Tom Cruise's Colorado getaway for $59 million

NEW YORK (CNNMoney)

The nearly 300-acre estate includes a 10,000-square-foot main house with four bedrooms and a three-bedroom guest house.

The home is accessed by a mile-long private road that winds past grassy meadows and aspen, spruce and pine forests.

The star of Top Gun, Jerry Maguire and the Mission Impossible, Cruise bought the property nearly 20 years ago when he was married to actress Nicole Kidman, according to Bill Fandel of Sotheby's International Realty.

But in recent years, the busy actor just hasn't had much time to get there.

Cruise helped design the home, which has been on the market since October, according to Fandel.

Tom Cruise's stunning rustic retreat in Colorado ski country is on the market.

The interior is lodge-like and has wood-paneled walls and bleached-cedar timbers.

There's a gourmet kitchen, gym, recreation room, library, and office suite.

"Meticulous" is how Fandel describes the craftsmanship of the home, which features dovetailed joinery and a native stone fireplace.

The great room is a great space to curl up with an evening cocktail.

Surrounding the Colorado property are tens of thousands of acres of U.S. forest service land, which provides gorgeous views of some of America's highest mountains, the San Juan range of the Rockies.

Related: Mansions for under a million

The property is just a 12-minute drive from the historic town of Telluride with its world class skiing and lively apres-ski destinations. Warm weather is just as much fun, with frequent events that include the world famous Telluride Film Festival, held in late summer.

The views are expansive and impossibly picturesque.

A regional airport, which makes travel easier to this relatively isolated spot, just underwent a $53 million renovation, enabling it to accommodate larger private jets.

Autumn brings a blaze of gold to the property's Aspens.

The retreat encourages being outdoors with its sweeping views, covered decks and recreational facilities. There's a network of trails for hiking, mountain biking and cross-country skiing, a motor cross track, as well as tennis and basketball courts and an ice hockey rink.

Not very far away is a storybook guest house nestled in the trees.

And guests can stay in this 1,600 square foot home tucked away in the woods.

Cruise reportedly still owns homes in California and New York.

First Published: December 4, 2014: 5:47 PM ET

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Frank Foer resigns from The New Republic

Chris Hughes, the Facebook co-founder who owns The New Republic.

NEW YORK (CNNMoney)

The iconic liberal magazine announced a total overhaul on Thursday that included the resignations of two top editors, a relocation from Washington to New York, a reduction in its print publication schedule and an unspecified investment in digital publishing.

In the wake of the announcements, at least two contributing editors to the magazine said they wanted to break off their ties to it. But a number of other observers expressed support for the newly-named editor, Gabriel Snyder, who ran The Atlantic Wire until earlier this year, when he joined Bloomberg Media.

Snyder will succeed Frank Foer, a beloved editor who left the magazine in 2010 and returned in 2012, shortly after Facebook co-founder Chris Hughes acquired it and became publisher.

Foer and a veteran editor, Leon Wieseltier, resigned on Thursday.

"The New Republic has been one of the great loves of my life," Foer wrote in an internal memo to his colleagues. "Chris [Hughes] and Guy [Vidra] have significant plans for this place. And their plans and my own vision for TNR meaningfully diverge. I've decided this is the right time for me to finish a book that is several years overdue."

Vidra, the CEO of The New Republic, said that the plan entails a greater focus on the company's web site: "we are re-imagining The New Republic as a vertically integrated digital media company," he said in a separate memo.

"We will be making significant investments in creating a more effective and efficient newsroom as well as improved products across all platforms," he added.

The magazine's office will move from Washington to a new space in the Union Square neighborhood of New York. A spokesman for the magazine did point out, however, that there would still be operations in Washington.

The shakeup comes after weeks of rumors about growing tensions over the editorial direction of the magazine, which Foer recently credited with "inventing modern liberalism."

The magazine celebrated its 100th anniversary last month.

On the anniversary, Hughes told The New York Times, "Today, I don't call it a magazine at all. I think we're a digital media company."

Thursday's changes seemed to reflect that sentiment. Now the print publication will come out 10 times a year, down from 20.

Snyder, the new editor, has a history of digital media jobs. Vidra referenced that in his memo, calling Snyder a member of the "straddle generation" of journalists who have both traditional and digital experience.

The "straddle generation" phrase was immediately mocked by some of the same people who lamented Foer and Wieseltier's departures.

After the announcements, Jonathan Chait and Ryan Lizza, two contributing editors who primarily work for other publications, said on Twitter that they'd asked for their names to be removed from The New Republic's list of contributors. (Lizza is also a CNN commentator.)

There were predictions of further departures at the magazine -- even a mass exodus -- but also some praise for Snyder, who has yet to comment on his new role.

First Published: December 4, 2014: 5:26 PM ET

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Fewer shoppers hit the stores on Black Friday

NEW YORK (CNNMoney)

The National Retail Federation, which tracks customer visits to stores as well as sales, reported that 5.1 million fewer people were out shopping on Black Friday than last year. That was a decline of about 7%.

On Thanksgiving Day itself, when many of the largest retailers opened with doorbuster deals between 6 and 8 p.m., the retail group found that around 1.8 million fewer shoppers went out than last year.

Overall, traffic was also down over the long weekend: About 5% fewer shoppers visited stores from Thanksgiving through Sunday.

Related: Where to find Cyber Monday deals

The NRF gets its numbers from a survey of about 4,600 Americans.

But note that a separate report from Shoppertrak, which uses data from retailers rather than a survey of shoppers, actually found a 27% increase in Thanksgiving traffic over 2013.

Two things are certain: More people are shopping online, and the holiday deals (in stores and online) are less concentrated on the one four-day weekend than they used to be.

As a result, stores are bracing for "a marathon not a sprint," said Matthew Shay, president and CEO of the retail federation.

Americans are also spending less over the Thanksgiving weekend, the retail survey showed.

Shay said it was tough to predict whether consumers were spending less than they expected because they're concerned about the economy or because they believe better deals are to come. But he stood by his organization's prediction of a 4.1% increase in holiday spending over the whole season, which began on November 1 and runs through the end of December.

Related: Pot sellers push 'Green Friday'

Much of that will likely be driven by online spending.

Americans spent 14% more online on Thanksgiving than last year, according to data from IBM. Online shopping on Black Friday was up nearly 10%.

The National Retail Federation warned that sales numbers on Cyber Monday may also slump as retailers spread out their sales throughout the month.

"It's safe to assume that as consumer demand drives this 24/7 seamless, frictionless get-it-how-you-want-it environment that Cyber Monday will continue to evolve as well," Shay said.

Related: Black Friday is just another busy shopping day

Related: Best Buy crashes amid Black Friday deals

First Published: November 30, 2014: 4:59 PM ET

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NBC's Dr. Nancy Snyderman still on the bench

Dr. Nancy Snyderman of NBC.

NEW YORK (CNNMoney)

NBC News said she'd return to work sometime in November, but November is over. And the network is not giving a new date for her return.

But sources at the network say she is still expected to be back on the air sometime soon.

Snyderman, NBC's chief medical editor, stoked controversy in October when she violated a voluntary Ebola-related quarantine, seemingly contradicting what she'd said on television about safe medical practices.

Snyderman had been covering the Ebola outbreak in Liberia with a team that included Ashoka Mukpo, a freelance cameraman. When Mukpo was infected with Ebola, Snyderman and the rest of the team members returned to the United States. She said they would "self-quarantine on our own."

"We'll approach this very cautiously, and probably more judiciously than other people, because we want to send the right message," Snyderman said on NBC's "Today" show on October 3.

She said the self-quarantine would last for 21 days. But within days of touching down in the U.S., Snyderman was seen outside her home in New Jersey. The sighting was soon reported by local news media, leading the state of New Jersey to enforce a mandatory quarantine.

Snyderman said in a subsequent October 13 statement that "members of our group violated those guidelines and understand that our quarantine is now mandatory until 21 days have passed." She said she was "deeply sorry for the concerns this episode caused."

Since then, Snyderman hasn't been heard from -- not a peep on television, Twitter or Facebook.

Meanwhile, people continue to leave comments on her Facebook page.

"Are you still NBC's chief medical editor?" one person asked last week.

"She violated the public trust for take-out," another person wrote on Snyderman's Facebook page, apparently addressing NBC. "Don't think we won't notice if you slip her back in."

Related: How NBC News quarantined Snyderman story

With Snyderman's apology in October came mounting questions about her credibility.

"NBC must now decide whether Snyderman's credibility is too damaged for her to continue reporting on Ebola or other medical issues and, if so, for how long," the Associated Press said.

But the network signaled that it still supported her. At the end of Snyderman's 21-day quarantine period, on October 22, NBC News president Deborah Turness said the correspondent and her crew would be taking some additional time off. The network had encouraged this -- partly to let some time pass before putting Snyderman back on TV.

Turness said in an internal memo, "we very much look forward to their return next month," meaning sometime in November.

But Snyderman never appeared on the network in November. Employees at NBC News, who spoke on condition of anonymity, said the only people who know her fate are the top executives of the news division. And those executives aren't talking. A network spokeswoman declined to comment on Sunday.

But several of the employees said they do expect to see Snyderman back on the air soon, in one form or another. One of the employees said Snyderman may be reintroduced through an interview on "Today" or "NBC Nightly News" that allows her to clear the air about her absence.

Snyderman did not respond to requests for comment.

In the meantime, NBC News has signed up another medical correspondent, Dr. Natalie Azar, on a part-time basis. Azar is a rheumatologist who teaches at New York University's Langone Medical Center and discusses medicine on local and national television shows.

She spoke about Ebola many times on NBC's newscasts in October, and in early November she was given the title of "NBC News medical contributor."

First Published: November 30, 2014: 4:35 PM ET

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Sony films surface on pirate sites after hacking attack

Brad Pitt's "Fury" is one of several Sony movies that have appeared online.

NEW YORK (CNNMoney)

Screener copies of at least five unreleased Sony films have made their way online, according to Variety.

The FBI is reportedly involved in the investigation into the apparent leak.

"The theft of Sony Pictures Entertainment content is a criminal matter, and we are working closely with law enforcement to address it," a Sony Pictures spokesperson said in a statement.

On Sunday, "Fury," which is still in theaters, and "Annie," which is scheduled to premiere December 19, were both on the Top 100 downloaded movies list of the file-sharing site The Pirate Bay.

Three other forthcoming Sony films -- "Still Alice," "Mr. Turner," and "To Write Love on Her Arms" -- have also appeared on file-sharing sites.

An extensive cyber-attack disrupted Sony Pictures' computer systems last week, causing corporate email to be crippled and forcing some employees to rely entirely on telephone calls for communication. The company is still recovering.

While the timing does match up, there has been no independent confirmation that the cyber-attack was the cause of the film leak.

A group calling itself "Guardians of Peace" appeared to take credit for the attack last week.

Re/code reported on Friday that Sony is "exploring the possibility" of a North Korean link to the hacking. That's because Sony is about to release "The Interview," a comedy starring James Franco and Seth Rogen. Its plot entails an attempted assassination of the North Korean leader Kim Jong-Un.

The regime in Pyongyang has been fuming about the movie for months; in June, a spokesman for the North Korean Foreign Ministry called it "undisguised terrorism and a war action" and hinted at consequences to come.

"Those who defamed our supreme leadership and committed the hostile acts against the DPRK can never escape the stern punishment to be meted out," the spokesman said.

The comedy is scheduled to be released on December 25. It does not appear to be circulating online like "Fury" and "Annie" now are.

Jose Pagliery contributed reporting.

First Published: November 30, 2014: 9:09 PM ET

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America's dual economy

NEW YORK (CNNMoney)

If you're a glass half-full type, it's easy to point to the fact that the economy is expanding again and unemployment is at a six year low. Gas is back under $3 a gallon, the stock market is at an all-time high and this year's job gains are on track to be the best since 1999.

America is certainly better off than it was during the financial crisis, and the nation looks a lot stronger economically than Japan and Europe.

America has added 2.3 million jobs in 2014

But there's a glass half-empty side of this economy, too.

Wages aren't rising for most Americans. A middle class family is actually bringing home the same income as it did in 1995, and millions of people want full-time jobs but are stuck in part-time positions.

There's no denying the rich are getting richer and the rest are stagnating.

The fact is there is truth in both sides -- the result of a slow-burn recovery from the worst financial crisis in generations.

Why voters hate the Obama economy

Here are the three key stats to that drive home America's dual economy:

1. Lucky to be employed.

On Friday the government reported another strong month of job gains. The unemployment rate is 5.8%, not far from what most economists think is typical rate of around 5% when the economy is humming along.

But the improving number masks the fact that the U.S. has 2.9 million people who have been out of work for half a year or more. That's double the number of long-term unemployed than before the recession.

Even more troubling is that the U.S. has over 7 million people who are working part-time but want full-time employment.

2. Wages aren't growing.

Americans are spenders. We like to buy things and that powers our economy. But people can't make purchases if they don't have money. That's why it's so worrying that U.S. wages aren't getting any bigger.

Wages today are about the same as they were just before the recession.

In the past year, wages went up about 2%, but that is just ahead of how fast costs have been rising so the gains are basically canceled out.

The complete list of companies that are open and closed on Thanksgiving

3. More gains went to Wall Street than Main Street.

The one area that has bounced back since the end of the recession is the stock market. It bottomed out in March 2009 and has been on an incredible tear ever since.

The S&P 500 -- the benchmark index that has a lot of funds that mimic or track it -- is up nearly 200% since that 2009 low point.

But the catch is that only half of Americans have any money in the stock market. So all those gains have only exacerbated the "have versus have not" economy.

Wealthy whites are the most likely to own stocks. And since the rich own more stocks, they benefited more.

First Published: November 7, 2014: 4:43 PM ET

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