Workers' Lump Sum Retirement Payouts Hobble States

Dec. 14 (Bloomberg) -- More than 111,000 government employees working for the 12 most populous U.S. states collected $711 million last year in unused vacation hours and leave time they accrued, according to payroll data obtained by Bloomberg News. Since 2005, more than 1,390 full-time California state workers collected lump sum checks that were greater than their annual base pay, data compiled by Bloomberg show. Just those workers alone were paid $141 million, at an average of $101,274. Bloomberg's Michael Marois reports. (Source: Bloomberg)
Germany, U.S. Losing Patience With VW: Siebert
37:07 - Jochen Siebert, managing director at JSC Automotive, discusses the Volkswagen emissions scandal, the company's top U.S. executive testifying in Washington and how deep the investigation could go. He speaks to Bloomberg's Angie Lau on "First Up." (Source: Bloomberg)
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