Retirement

Nick Counter, who as chief negotiator for the major studios became the designated nemesis of Hollywood labor, is retiring after more than 25 years on the job. The Alliance of Motion Picture and Television Producers said Friday that Counter will retire when his five-year contract expires March 31. The move was widely anticipated. In fact, Counter, 68, was expected to retire last summer, but those plans were delayed by the ongoing labor dispute with the Screen Actors Guild.

Their savings in shambles from the economic downturn, jobless seniors are dusting off their briefcases and trying to head back to work. Many, like Jim Mitchell, a 63-year-old former sales executive, are finding a merciless job market where decades of experience aren't necessarily an asset. The Long Beach resident rises daily before dawn and dresses neatly in business attire to keep himself motivated.

He once was a humble cyclist with a reputation for grit, whether riding with broken bones so painful that he ground 11 of his teeth to nubs or crying openly during the 2004 Tour de France when his beloved dog and constant companion Tugboat had to be put down. On Friday, Tyler Hamilton, 38, announced his retirement from cycling after failing a doping test for the second time in his career that included a dramatic stage win at the 2003 Tour de France and a gold medal at the 2004 Olympics.

If you're at retirement age and worried about how you'll pay the bills after the bear market devoured a chunk of your nest egg, you may be sitting on the solution: your home. With a loan called a reverse mortgage, homeowners who are at least 62 years old can tap the equity in their homes to provide monthly income for life.

Calabasas-based home builder Ryland Group Inc. said its chief executive would retire in May and be replaced by the company's current president. R. Chad Dreier, 61, has served as CEO for more than 15 years and will continue as chairman after he steps down May 29. President Larry Nicholson, 51, will take on the CEO title -- and all the problems of the most miserable housing market in decades.

Oscar De La Hoya, 36, announced his retirement from boxing Tuesday after a decorated professional career of more than 16 years that included a record six world titles in different divisions, 10 belts in all and a secured standing as the most lucrative fighter in boxing history. Four months removed from being battered over eight rounds by Manny Pacquiao in Las Vegas, De La Hoya (39-6, 30 knockouts) announced at downtown's L.A.

Los Angeles Fire Department Chief Douglas L. Barry, who took office two years ago with a mission to reform a highly respected agency that had become tarnished by allegations of racism and retaliation, will retire at the end of August.

To the casual observer they look like the real thing: Uniformed Los Angeles police officers on motorcycles controlling traffic around action-packed chase scenes and sprawling film sets on the streets of L.A. Gawkers and paparazzi who get up close, however, might realize something is a bit off. The stripes signifying the officers' rank are gone, the motorcycles are without emergency lights and their badges read "Retired" across the top.

For people who lack the time, expertise or inclination to put together their own retirement portfolios, asset management firms have increasingly marketed "target date" mutual funds as a no-worry, hassle-free solution. The idea: You put the bulk of your retirement savings into a fund pegged to your target date -- the approximate time you expect to retire. Over the decades, without any action by you, the fund's holdings gradually become more conservative, leaving you with a comfortable nest egg.

When Jerry Huben began working for Northrop Aircraft Co. in 1941, the starting pay for a factory worker was 65 cents an hour and engineers armed with slide rules designed airplanes on a drafting board. On Tuesday, Huben's co-workers at what is now Northrop Grumman Corp. in El Segundo held a send-off for the aircraft engineer, who was retiring after 68 years of helping build some of the nation's more notable airplanes. No one else had worked as long. No one had even come close.