Things are not looking good for retirees with the collapse of the defined benefit plans. In 20 years, the only people with these plans will be government employees.

It's a sweet deal for the firm. Most workers will wind up worse off as a result of the defined contribution plans. Some might be better off if they invest very well. Most people aren't sophisticated investors.

It would be very unusual for workers to make up for the shortfall and it might certainly be a good way to shock people into saving more -- tell them they now have to put aside 12 percent of the earnings.

With IBM gone, it won't be long before a lot of other companies follow suit.

They were a really tough team and went after the ball hard, but we could have boxed them out better. We could have gone after the ball harder. It was stuff that we could have controlled that we didn't.

[But some of the Wizards players were very well aware of what was going on elsewhere in the conference.] I felt like I was on the leader board of some golf tournament, ... I came out at halftime and every team in our [conference] was getting the result they needed to get. That certainly set the tone for what we had to provide in the second half.