Retirement

MEXICO CITY - Gen. Tomas Angeles Dauahare, who once held the plum post of military attache to the Mexican Embassy in Washington, was rumored to be the next defense minister of Mexico. Until that day in May last year when he and three other top military men were arrested on suspicion of working on behalf of a notorious drug cartel. It was the largest indictment of army officers on charges of drug-trafficking in recent memory, hailed in many quarters as proof of then-President Felipe Calderon's determination to root out corruption at every level.

WASHINGTON - Older Americans can be confused by dozens of special designations for financial advisors for seniors, and government officials should set strict standards for training and conduct to prevent abuses, according to a new federal report. The ranks of the elderly are projected grow to 70 million by 2030 from 50 million now, and their savings can be an attractive target for people peddling financial products, the Consumer Financial Protection Bureau said. The bureau, at the request of Congress, studied how advisors to seniors can promote, or designate, themselves.

When it comes to trendsetters, Thomas Hudnut will go down in history as the high school educator who proved students could excel in academics and athletics at the same time. As the headmaster when Studio City Harvard High School merged with the Westlake School for Girls in 1989 to become Harvard-Westlake, he decided to launch an all-out effort "to be as much like Stanford as we possibly could. " Sports was used to gain exposure and inspire a whole different element of students to consider Harvard-Westlake, known for its academic excellence.

Rasheed Wallace has been bothered by a left foot injury most of the season. New York Knicks Coach Mike Woodson told reporters Wednesday morning the veteran player was still struggling with soreness and might not be available for the playoff opener against Boston this weekend. Soon after, Woodson learned Wallace would not play in that game -- or any other. The Knicks announced Wallace's retirement after 15 seasons in the NBA later in the morning. “Rasheed has given this team everything he had,” Woodson said in the statement.

SACRAMENTO - Let the political games begin. A battle between professional athletes and owners of football, baseball, basketball, hockey and soccer teams starts Monday. Dozens of retired athletes plan a news conference on the steps of the state Capitol to denounce a bill that would make it harder for them to file workers' compensation claims in California. The measure, AB 1309 by Assemblyman Henry Perea (D-Fresno), seeks to close what he sees as a legal loophole that allows out-of-state players to file claims for compensation for sports injuries developed from years of pounding in the arena.

Mark Yudof likes to point out that he was the first real outsider in more than a century chosen to run the sprawling University of California system. And he often jokes that, as a result of his leadership, it is likely to take a hundred years more before UC hires another. Maybe not. But the comment does represent a dilemma facing the UC regents as they look for his successor: No obvious heir apparent is lined up inside the system. So experts predict the search for a new president will concentrate on large public university systems elsewhere in the country that dealt, like UC, with dramatic declines in state support.

MEMPHIS - Grant Hill can see the end of his career coming. "I'm 99% sure this it, that this will be my last season," Hill said. But then Hill was asked to step into a void for the Clippers when Caron Butler was unable to play in the second half of the Clippers' 91-87 victory over the Memphis Grizzlies on Saturday because of a sore right knee. Hill scored five points on two-for-three shooting, had one rebound and two blocked shots in 11 minutes 28 seconds. So, Hill was asked after the game in which he played a pivotal role, is he still thinking about retiring?

Los Angeles Mayor Antonio Villaraigosa said Wednesday that city employees should pay considerably more for their healthcare and retirement benefits to avoid “giant balloon payments” in coming years. Appearing on KTTV's “Good Day L.A.,” Villaraigosa argued that workers should contribute as much as 20% of their salaries toward their retirement benefits, up from the 11% that most pay now. “If we're going to keep [pensions], they've got to be sustainable,” he said. “Even 11% is not enough.

SEATTLE - Seattle Police Chief John Diaz said Monday he was retiring, leaving a department rocked by a federal investigation into excessive force and criticized for ill-planned responses to tumultuous May Day protests last year. Diaz, 55, said he was leaving as the department had achieved an 11% reduction in major crime over the last four years and made “significant progress” in a reform plan developed with the Justice Department to address findings that officers too often resorted to unnecessary beatings and shootings.

Dear Liz: What would you suggest that someone do with $20,000 if the someone is closer to 40 than 30, single, with $100,000 of student loan debt and a $250,000 mortgage? My salary is around $100,000 a year. I have an emergency fund equal to six months of expenses and I make an annual IRA contribution since my employer doesn't offer a 401(k) plan. Should I accelerate my student loan payments, since the interest isn't tax deductible for me because my income is too high? Or should I invest instead?