mast
buttons
Sign Up to Receive Important Messages or Update Your Email Address Contribute to the NRLN
Write Personal Email to Your Members of Congress Respond to an ACTION ALERT

Enroll – If you are enrolled you should be receiving our emails directly, otherwise click here to enroll. Enter contact information. In “Name of Retiree Association or Chapter” window, scroll down to “NRLN DuPont Retirees Chapter” near the bottom. Click on box to “Receive NRLN Emails” and then click on the “SIGN ME UP” window.


Update Email Status - If you believe you are enrolled but are not receiving email from NRLN/DRC, check your junk-mail or spam folder and designate email from contact@nrln.org as a “safe sender”. If you find no quarantined email, or if you changed your email address, please send a note to contact@nrln.org to check, revise and confirm your status. You also may have enrolled but failed to check the box to receive emails. If this is the case your enrollment status will be corrected.


Contributions –to NRLN and DRC are voluntary but needed and appreciated. Click here for Contributions.


Welcome current and future DuPont retirees –The NRLN (National Retirees Legislative Network) is a nationwide organization that advocates for federal legislation to protect retiree benefits including pensions, company provided healthcare, Social Security, Medicare, and lower prescription drug costs. We started this DuPont Retirees Chapter (DRC) due to concerns about the long-term security of our underfunded pension plan. With our email utility delivering key documents to our members directly, and with this webpage, we strive to be a key communication mechanism on retiree issues, as DowDuPont carries out a plan to split into three smaller companies.
Please review our communications on pension and other retiree issues in the left column below. The most current notes are always visible, while older communications are archived in reverse chronological order. The right column below is a repository of pertinent media articles about the merger and pension issues. We hope that you will review the wealth of information on our DRC page, as well as on the NRLN homepage.


Feel free to comment or ask questions by emailing Jim Odle, Chapter President at odlejk@gmail.com

Useful Links for DuPont Retirees: Retiree website - http://www.retiree.dupont.com/     DowDupont Investor Relations - http://www.dow-dupont.com/investors/default.aspx

DUPONT PENSION SECURITY COMMUNICATIONS

View Archived Communications
DRC history and activities; current and archived communications with DRC Membership and Corporate Management concerning pension security

 

 


November 1, 2018

From: Paul Kende
To: NRLN DuPont Retirees Chapter Members
Subject: Pension Plan Allocation Decision

DowDuPont announced this morning and that all heritage US DuPont pension and retiree benefit obligations will be fully assumed by Corteva Agriscience. A letter from Ed Breen to DuPont U.S. Pension Plan Participants, covering this, is now posted on www.retiree.dupont.com , along with supporting FAQ information. A direct link to the letter is here. Hardcopy distribution of the letter to all participants is also starting.

The nearly $4 billion 2017-2018 contribution to the Pension Plan significantly reduces its underfunding to about $2.5 billion and raises its funding level to 88%, based on Fair Market Value of its assets and obligations at year end 2017. While this is still not as high as it should be, the significant increase in funding level does demonstrate a corporate commitment to keep the Plan healthy. Mr. Breen’s appointment to the Corteva Board of Directors, also just announced, underscores a key statement in his letter, that this “commitment has not and will not change with Corteva Agriscience as the future steward of the Plan.”

In my view, within the framework of the fundamental Dow and DuPont corporate restructuring, keeping the Pension Plan consolidated and assigning its assets and obligations to Corteva, is the best option for ensuring retirees’ pension security. My rationale for supporting this decision is that, while smaller in size, Corteva’s better credit rating (A-) makes it financially stronger than the new DuPont will be, and with a more integrated, single-focus business, it is also less likely to be split up in the future, that would cause further uncertainties for pension security. In addition, splitting up the Pension Plan would be a monumental administrative task, and would result in two separate, inherently less efficient administrative and investment management operations.

Your questions and comments are always welcome.

Paul Kende, NRLN DuPont Retirees Organization Email: paul.kende@gmail.com


From: Jim Odle and Paul Kende 10/19/2018
To: NRLN DuPont Retirees Chapter Members
Subject: DuPont Pension Plan Update

A bit of good news - management has announced that they made a $1.1 billion contribution to the DuPont USA Defined Benefit Pension Plan in September. This raises the year-end 2017 funding level from 82% to about 88%, based on the Fair Market Value approach to calculating funding levels, as described in our email of October 1, 2018. This contribution further strengthens the Plan’s financial condition. Details around this action can be found on the DuPont Retiree Benefits website: http://www.retiree.dupont.com

Some have speculated that the $1.1 billion contribution would make it easier to transfer the Pension Plan to an insurance annuity; however, it would have taken a $3.6 billion contribution, to eliminate the full funding short-fall, before an insurance company might be interested in taking over the Plan. Since Corporate taxes are due in October, we believe that the $1.1 billion contribution was made in September, to take advantage of the higher 2017 tax rates applicable to deducting Pension Plan contributions.

The SEC “Form 10” financial disclosure, filed by Corteva on 10/18/18, shows that its balance sheet includes Historical DuPont’s Pension Plan assets and obligations. However, as indicated in the filing, final allocation decisions have not yet been made, and this will be the subject of Form 10 Amendments. We hope that the allocation decisions will become clear as part of the information provided on “Investor Day” on 11/8/18.


From: Jim Odle 10/14/2018
To: NRLN DuPont Retirees Chapter Members
Subject: Pension Plan De-risking

By now, I hope that you have read Paul Kende's most recent email on DuPont Pension Plan Funding Status dated October 1. If not, it can be found below.

Several DRC members have replied and asked if DowDuPont (or the SpinCos) might transfer the DuPont Pension Plan to an insurance company (sometimes referred to as de-risking). Verizon and General Motors, for example, have done this with a portion of their pension plans which they transferred to the Prudential Insurance Company. With this approach, the insurance company would provide a lifetime annuity to pension plan participants. The downside for pensioners is that an insurance company annuity is not protected by PBGC guaranteed benefits. While it is not unheard of for an insurance company to fail, it is rare. Insurance companies are highly regulated by the states and they do require more than 100% funding before taking over a pension plan. I did talk to a VP at Prudential who told me that they are very conservative in determining how much funding they would need in order to take over a pension. In any case, most states do have insurance associations, which pool their risk to back each other up and provide some annuity protection against default. However, the guaranteed amounts vary by state and range from $100,000 to $500,000 lifetime benefits; for most pensioners this is less than PBGC guaranteed benefits. For example, Delaware’s $250,000 maximum lifetime payout would be used to supplement funds recovered from the failed annuity. In many cases annuitants would continue to receive their full benefit. In my discussion with the head of Delaware's insurance agency I was told that no one in Delaware had ever suffered a loss from a failed annuity. Of course, it would also be good if the original Sponsor would also purchase a secondary insurance policy to cover the risk of default by the primary one, although I have not heard of a company buying secondary insurance.

An insurance company would be unlikely to take over a plan unless it is more than fully funded on a conservative (low discount rate) basis, which would require several billion dollars for the DuPont Pension Plan. We do not know what DowDuPont is considering, or what the SpinCos may do in the future, but we do not have any reason to think that management is currently planning on de-risking through an insurance company buyout.

Please feel free to contact us with any questions or comments.

Best Regards
Jim Odle, President, NRLN DRC
Email: odlejk@gmail.com


From: Paul Kende, October 1, 2018
To: DuPont Retirees Chapter Members
DuPont Pension Plan Funding Status Update

In my May 9, 2018 note (emailed to all and also posted below, on the financial status of the DuPont Pension Plan, I indicated that our funding level was 86.56%, based on its Fair Market Value as of year-end 2017, as stated in DuPont’s April, 2018 Annual Funding Notice (AFN - page 2). But based on the February, 2018 10 K Report, the funding level was 82.15%; the difference in valuations is mostly attributable to different discount rates and mortality tables, required to be used by the two reports. Both the AFN/FMV and the 10K Report funding level calculations recognize the $2.8 billion contribution ($2.6 billion of which was discretionary) that DuPont made to the Pension Plan in May, 2017.

In a letter to all Plan Participants, on May 31, 2018, management stated that “A significant portion of these contributions was considered discretionary, meaning that they were above the minimum level required by law. These excess contributions created a “credit”, and Federal pension laws specify that the credit must be subtracted from the plan assets when calculating the Funding Target Attainment Percentage. If the credit was not subtracted, the funded percentage would be over 100%. Because of the 2017 discretionary contributions, no additional contributions are expected to be made in 2018.”

The 1/1/17 MAP-21-based Funding Target Attainment Percentage (FTAP), shown in the April ’18 Annual Funding Notice, was 85.14% (page 1); adding the $2.6 billion Credit Balance to the net assets shown, does increase the calculated funding level to just over 101%. However, I believe that the most meaningful valuation of a pension plan’s funding level is based on its Fair Market Value (FMV), rather than on the actuarial average, MAP-21-based funding level calculation. The FMV-based funding levels at year-end 2014-2017 were 79.20%, 73.96%, 72.25%, and 86.56%, respectively. The jump in 2017 is attributable to the large $2.8 billion total contribution in May, 2017.

As a further note of interest, in the 2nd Quarterly Report in 2018, management indicated that an additional discretionary contribution is intended in the 3rd Quarter, at less than half of the 2017 contribution (i.e. less than $1.4 billion). While this intended contribution may be driven mostly by tax deduction considerations, it will further strengthen the funding level and tacitly acknowledges the need for it. I expect that the additional 3rd quarter Pension Fund contribution and the decisions around the capital structure of the spinoffs, including allocation of the Pension Fund assets and obligations, is underway now; they should become clear in mid-to-late October, before the announced Investor Day takes place on Nov 8.

Risk Assessment

DuPont and DowDuPont management have repeatedly assured us that our pensions are secure and Participants will receive their promised pension benefits. This is comforting, but the allocation of Pension Plan assets and obligations, across the spinoffs, is just underway now, and potential further splits in the future is a subject of discussion/speculation in the general investment community. So we do not really know who the Plan Sponsors will be and what their commitments to Plan Participants will be in the long-term. And secondly, the business success of the new Sponsor(s), as well as the general market forces impacting pension finance, are key factors in the security of our pensions; both of these uncertainties represent risks. The intended 2018 contribution to the DuPont Pension Plan is good news for from the viewpoint of pension security; while at 86%, our plan is above the 80% funding level, generally considered “at risk”, its continuing financial health will probably require additional future contributions, in amounts strongly dependent on future market conditions, as well as on the corporate tax rate.

It appears unlikely that our Pension Plan would fail and would have to be terminated and taken over by the Pension Benefit Guaranty Corporation (PBBC - the Federal Government’s pension insurance agency). However, if that were to occur, it is fair to ask what would happen to our pensions? My understanding on this question is summarized below:

  • If a pension plan terminates because it has insufficient money to pay all benefits, the PBGC’s insurance program will pay the benefits provided by the original Pension Plan, but possibly reduced, based on legally defined limitations on a) “maximum guaranteed limits” (mostly based on age: higher maximum benefits at older ages; for details, see https://www.pbgc.gov/wr/benefits/guaranteed-benefits/maximum-guarantee ), and b) partial, phased-in coverage for pension enhancements, that were granted by the employer in the 5 years prior to Plan termination (smaller percentage coverage for more recent enhancements)
  • If the guaranteed benefits are reduced by one of the limitations above, then the Plan’s funding level becomes a factor in determining what PGBC will pay. The PBGC would pay the reduced guaranteed benefits, if the Plan’s assets are less than what is required to pay that amount; but if the assets are sufficient to pay more than the reduced guaranteed benefit, then the PGBC will pay the higher benefits that the Plan’s assets can cover
  • The actual PGBC benefits, that participants would receive, are based on well-defined but complex rules, and are highly plan-specific

Maximizing Pension Plan funding is vital for its financial health to 1) keep it from sliding into termination, and 2) if it ever does terminate, higher Plan assets would increase the benefits many would receive from the PBGC.

Your comments and questions are always welcome.....paul


From: Paul Kende May 9, 2018
To: DuPont Retirees Chapter Members
Financial Status of the DuPont Pension Plan (Updated 1/5/18 Status Report, based on latest 10K and AFN Reports)

The key official documents, reporting on the status of the DuPont Pension Plan, are the year-end, audited 10K filings with the SEC, the Annual Funding Notice (AFN) published in April of each year, and the Form 5500 Reports, filed with the Department of Labor each October. Aligning, interpreting and understanding these documents are difficult. The purpose of this note is to A) provide some explanation of the key financial concepts and mechanisms, B) facilitate understanding and assessment of the DuPont Pension Plan’s financial status and various questions about them, and C) draw some conclusions at the end.

A. General Pension-Related Financial Concepts

To be able to measure the adequacy of a pension plan to meet its obligations over many years in the future, these obligations are represented by their Present Value. Calculations of Present Values require the use of Discount Rates, which in turn, are based on the yields provided by Corporate or U.S. Treasury Bonds, forming part of the Pension Plan investment portfolio.

The graph below shows two bond yield curves for a wide range of maturities. The red line is the 25-year average yield curve of High Quality Corporate Bonds from 1989-2013, and the green line is the 2-year average yield curve for US Treasury Bonds – which offer lower yields but with less risk. These graphs are based on the yield data provided by the US Treasury. Naturally, the “last” 25-year average yield curve would shift slightly each year.

pension concepts

The Discount Rate used to calculate the Present Value of future pension obligations, is either the yield value from a yield curve at a particular maturity (“spot rate”), or the average yield over a selected maturity segment.

Discount Rates in the past were conservative, using the 2-year average U.S. Treasury Bond yields. However, the 2012 MAP-21 legislation permits pension plan sponsors to use the much higher 25-year average corporate bond yields. The use of higher yields lowers the Present Value of future benefit obligations, and therefore reduces the difference between assets and obligations, which then reduces the required pension plan contributions. For this reason, the MAP-21 legislation is also referred to as “Pension Funding Relief”, put in place by Congress to ease the minimum required pension plan contributions, in the low interest environment after the 2008 financial crisis. In 2015, MAP-21 legislation was extended until 2020.

In addition to Yield Curves and Discount Rates, the actuarial assumptions required to calculate the Present Value of Pension Obligations, include time in retirement, projected salary increases of vested employees, and the life expectancy of Participants – and all these factors vary with time. In particular, the new mortality tables, just released by the Internal Revenue Service, indicate increased life expectancies, which will likely increase Pension Plan funding liabilities, minimum required sponsor contributions and PGBC premiums.

B. Assessment of Pension Financial Status Extracted From DuPont’s AFN and 10K Reports

I have compared DuPont’s financial reports in detail, for the 2012-17 Plan Years. The summary of the comparison is shown in the table below only for 2016 - 2017. The AFN report refers to the US Pension Plan, while the 10K is a comprehensive and global financial report, from which I extracted the US Pension Plan-related data for comparison. The April AFN report refers to Pension Plan financial status as of January 1 of the previous year (a 16-month delay), while the February 10K report defines status as of December 31 of the previous year (a 2-month delay). For clarity, I assembled all Pension Plan financial values at year-end 2016 and 2017, recognizing that the start of one year is the same as the end of the previous year. Because the 5500 Report, issued in October, shows the same figures as the AFN, I do not include these in the table below.

pension plan

The primary variables are Assets and Liabilities. Liabilities, Shortfalls and Funding Levels are either directly stated in the reports, or derived from them (blue font) through the simple subtraction or division formulas indicated in the definitions column. The table shows significant differences among the reports, as discussed below:

  • The big differences in Pension Liabilities and Funding Levels, between the AFN/MAP-21 and the AFN/Non-MAP-21, result directly from the use of the 2-year average US Treasury Bill, vs. the 25-year average Corporate Bond yield, for investment calculations, as discussed on page 1.
  • The second major difference between reports is attributable to different valuation methods. The AFN reports show actuarial asset values at average bond yield rates, for different bond yield curve segments, effectively smoothing out market fluctuations. However, the 10K reports are based on the Fair Market Value of Pension Assets and the full bond yield curve, at the year-end “spot rate”– which can be higher or lower than the actuarial values shown in the other reports. In addition, the 10K report includes the projected increase in pension obligations, due to employee pay growth, which the other reports do not include (this difference will disappear after the full pension freeze on 11/30/2018).
  • Note that the $16.66B Total Assets in YE2017 AFN/page 2, is $2.763B more than the Net Assets value of $13.897 in YE 2016 – this is from the $2.9B May, 2017 contribution. The AFN Fair Market Value of Assets closely matches the 10K report’s value of $16.7B.
  • The discrepancy between the 2017 AFN/pg2 Fair Market Value Liabilities, and the 10 K report’s, are due to different discount rates and mortality tables used – as required by the accounting rules pertaining to the different reports.
  • The table above shows the Pension Plan status at the end of 2016 and 2017. The shortfall, as stated in the 10K reports, was $6.4 billion at YE2016, dropping to 3.6 billion at YE2017. This is partly because DuPont made a major, $2.9 billion contribution In May of 2017, going well beyond the $230 million minimum requirement, both strengthening the plan and ensuring higher tax deductions, before corporate tax rates dropped for 2018. This Contribution adds to the Pension Plan Credit Balance, and is to be used to satisfy future minimum contribution requirements. Although these funds are locked into the Pension Trust, they do not raise the Funding Level, as shown in the AFN and 5500 reports, because any Credit Balance is subtracted from Total Assets before that calculation; however, the contribution is reflected in the Funding Level shown in the February 2018 10K report. In addition, YE2017 net assets increased by $300 million, beyond the $2.9 billion contribution, probably attributable to investment performance.
  • The 2016-17 Lump Sum Buyout offers, to people not yet drawing their vested pensions, reduced both assets and liabilities, with minimal effect on funding levels.

C. Conclusions

The AFN (with and without MAP-21 discount rate adjustments) and the 10K reports may accurately reflect the Pension Plan’s financial status for different purposes, but they use different valuation methods, mortality tables, discount rate assumptions and timing. The format and accounting methodology used for the AFN reports are dictated by ERISA/IRS rules, while the 10K report is based on the Generally Accepted Accounting Standards, resulting in sometimes large apparent discrepancies. In any case, the differences in the reported parameters need to be understood in context.

What is the most appropriate approach to assess the plan from retirees’ viewpoint? Using long-term average corporate bond yields to determine the present value of future obligations is reasonable, because the pension payout is also over a long time-frame. On the other hand, the Pension Plan is for the benefit of older, retired people, by definition; therefore, it is also appropriate to use the traditional, lower yield, but more secure US Treasury Bond – based planning. In addition, it is important to recognize the current Fair Market Value of assets, and the fully projected future liabilities of the Pension Plan. Considering all these factors, I believe the most appropriate retiree vantage point for assessing the security of our DuPont Pension Plan, is the one afforded by the annual 10K SEC report - which shows a $3.6 B shortfall at YE2017, and a Funding Level rising from 68% in 2016, to 82% in 2017, slightly above the 80% level, below which it would generally be considered “at risk”. However, the Plan is still significantly underfunded, and this would likely get worse without further contributions from DowDuPont, or its successors.

Your comments and questions are always welcome, Paul Kende paul.kende@gmail.com


November 20, 2017
To: DuPont Retirees Chapter Members

NRLN DuPont Retirees Chapter Webpage Updated and Upgraded

We have updated and upgraded your NRLN/DRC webpage format and content, for improved navigation, reduced visual clutter and ease of readability. Since computer screen sizes and browser font default settings vary, font size control is built into the website: holding down the “Ctrl” key, while you scroll your mouse can increase or decrease the font-size of the text on the entire page, as you prefer (a note of caution: if you enlarge the font to an extreme size, the column containing media articles about DuPont will appear below the first column).
Your comments and questions are always welcome.

Jim Odle, President, DRC odlejk@gmail.com

DUPONT IN THE NEWS

Media articles about DuPont and DowDuPont retiree benefits and corporate restructuring. Some publications may require subscriptions, and/or login for unlimited viewing


DuPont Pioneer lays off Iowa workers as it works toward full Dow-DuPont merger
By Kevin Hardy; Des Moines Register ~ Dec 13, 2018

DuPont Wins R&D 100 Awards
NetComposites ~ Dec 04, 2018

Corteva and DuPont pensions
By Delaware Business Now – Nov 13, 2018

DuPont execs outline strategy for independence next year
By Alexander H. Tullo; Chemical & Engineering News ~ Nov 14, 2018

Corteva Will Be a Growth Company, Future CEO Collins Says
Video, att.net – Nov 9, 2018

FMC Flexes Its Market Muscle Post DuPont Asset Acquisition
Sonja Begamann, AGPro – Nov 7, 2018

Ag spinoff Corteva to manage DuPont pension plan
Delaware Business News – Nov 1, 2018

DowDuPont rebounds on stronger sales; names 3 spin-off boards
By Joseph N. DiStefano, Philly.Com – Nov 1, 2018/font>

Next year, DuPont will no longer manage its legacy pension fund
By Karl Baker; The News Journal ~ Nov 01, 2018

DowDuPont Announces Boards of Directors of the Three Future Independent Companies: Dow, DuPont, and Corteva
DowDuPont Press Release, Nov 1, 2018

DuPont Pension Announcement – Frequent Asked Questions
DuPont Website – Nov 1, 2018

DowDuPont Drops Billions, Scaring Investors and Rethinking Future Earnings
DelawareOnline.Com - Oct. 20, 2018

When One Plus One Equals Three
seekingalpha.com - Oct 19, 2018

The funded status of corporate pension funds
Pensions & Investments · April 30, 2018

Why DuPont Decided to Change Its Logo After Almost a Century
By Robert Klara, Adweek – Oct 4 2018

DuPont unveils new logo amid big company changes
By Karl Baker; The News Journal ~ Oct 03, 2018

DuPont, former maker of Teflon, debuts a “welcoming” rebrand
Mark Wilson, Fast Company – Oct 3, 2018

DuPont Feeds A Craving For Clean-Label Ingredients
From Janet Forgrieve; Forbes ~ Oct 01, 2018

DuPont introduces new chemical for liquid laundry detergents
By Alex Vuocolo; Delaware Business Times ~ Sep 27, 2018

DowDuPont™ Announces Senior Leaders of the Future Independent Companies, Corteva Agriscience™ and DuPont
DowDuPont Press Release – Sept 17, 2018

DuPont to reveal pension details in the coming months
By Karl Baker, Delaware News Journal – Sept 17, 2018

Loeb Wants Breen to Lead DuPont After 3-Way Split at DowDuPont
By Jack Kaskey; Bloomberg ~ Sep 04, 2018

DuPont Declares Regular Quarterly Dividend on Preferred Stock
From PR Newswire; Markets Insider ~ Aug 15, 2018

DowDuPont news: Pesticide ban, chemical settlement and gene cutting
By Karl Baker, ; The News Journal ~ Aug 13, 2018

DowDuPont announces earnings, but few new details about spin-off companies
By Karl Baker, Delaware News – Aug 2, 2018

U.S. reaches $3.1 million settlement with DuPont over 2014 chemical accident
By Timothy Ahmann; Reuters ~ Jul 27, 2018

Ford Honors DuPont at 20th Annual World Excellence Awards
STL NEWS ~ Jul 18, 2018

Iowa man charged with stealing trade secrets from DuPont
By Trish Mehaffey; The Gazette ~ Jun 28, 2018

DuPont spends $200M+ to create its future in historic Experimental Station
By Joseph N. DiStefano; The Inquirer ~ Jun 19, 2018

CBRE Arranges Sale of Nearly 100-Year-Old DuPont Country Club in Wilmington, Delaware
By Jeff Shaw, REBUSINESSONLINE – June 11, 2018

Does DowDuPont's $200 million laboratory investment signal an end to past turmoil?
By Karl Baker; The News Journal ~ Jun 11, 2018

DuPont to establish new Kalrez facility in Delaware
By Chris Sweeney; Rubber & Plastic News ~ May 30, 2018

DuPont scientists named 2018 Heroes of Chemistry
From “DuPont”; PV Magazine ~ May 07, 2018

Chemours, in a 'pivot moment,' nearly doubles year-over-year earnings in first quarter
By Jeff Neiburg; The News Journal ~ May 04, 2018

DowDuPont profit hits $1.1 billion on higher demand and increased prices
By Jeff Neiburg, The News Journal – May 3, 2018

DuPont opens Illinois plant providing alternative to oil-based plastics
By Alex Vuocolo; Delaware Business Times ~ May 02, 2018

DuPont’s Largest Plant to Undergo Energy Efficiency Upgrades
By Emily Holbrook; Energy Manager Today ~ Apr 19, 2018

Ex-DuPont workers say Chemours Co. tricked them out of money
From The Associated Press; The News & Observer ~ Apr 06, 2018

DuPont heir to buy namesake country club, vows not to build homes
By Karl Baker, The News Journal – April 5, 2018

DowDuPont™ Recommends Rejection of TRC Capital’s “Mini-Tender” Offer
DowDuPont Press Release – March 29, 2018

DuPont Investing $50 million in Kevlar Manufacturing at Spruance
By John Ogle; Community Idea Stations ~ Mar 22, 2018

DowDuPont's Andrew Liveris steps down, names CEO for new Dow
By Nivedita Bhattacharjee; Reuters ~ Mar 12, 2018

DuPont shutting down product line at Chambers Works
Delaware Business Now ~ Mar 08, 2018

100 to lose jobs at DuPont chemical site in South Jersey
By Bill Gallo Jr.; NJ.com ~ Mar 02, 2018

DowDuPont spinoffs get names; DuPont stays in Delaware
By Karl Baker; The News Journal ~ Feb 26, 2018

DowDuPont Announces Brand Names for the Three Independent Companies It Intends to Create, Reflecting Ongoing Progress towards Separations
DowDuPont Press Release – Feb 26, 2018

DowDuPont lines up $700 million contribution for global pension plans
By Rob Kozlowski; Pensions & Investments ~ Feb 15, 2018

DowDuPont to move up to 150 jobs to the Experimental Station, near Wilmington
By Karl Baker, The News Journal – Feb 13, 2018

Ruled by emotion, stock market sends DowDuPont skyward
By Karl Baker: The News Journal ~ Feb 06, 2018

DowDuPont moves up timeline for split, increases cost savings goal
By Kari Baker, The News Journal – Feb 2, 2018

DowDuPont tops Wall Street expectations as sales surge
Associated Press – Feb 1, 2018

DNREC issues $57,000 fine to DuPont for hazardous waste violations
By Scott Goss; The News Journal ~ Jan 31, 2018

Court selects law firms to oversee class-action litigation against DuPont, Chemours
By Terry Pope; The State Port Pilot ~ Jan 17, 2018

DuPont's legacy again sparks expensive environmental cleanup
By Karl Baker; The News Journal ~ Dec 26, 2017

DowDuPont registers domains that could signal name of Delaware agricultural business
By Jeff Neiburg; The News Journal ~ Dec 20, 2017

DuPont lays off undisclosed number of Iowa workers
By Kevin Hardy; Des Moines Register ~ Dec 19, 2017

DowDuPont will likely name its agriculture business Corteva
By Andrew Allemann, Domain Name Wire – Dec 15, 2017

Chemours increases dividend fivefold
By Karl Baker; The News Journal ~ Dec 12, 2017

Judge tosses lawsuit claiming DuPont misled investors
By Randall Chase; The Associated Press ~ Nov 28, 2017

Former DuPont business Axalta confirms talks with Japanese company
By Delaware Business News - Nov. 23, 2017

New DowDuPont plastic could revolutionize industry
By Karl Baker, The News Journal - Nov 22, 2017

Plastic bottles, car parts, made from sugar? Yes, says DowDuPont
By Karl Baker; The News Journal ~ Nov 21, 2017

DowDuPont completes annuity buyout for non-qualified Dow Chemical pension plan
By Rob Kozlowski; Pensions & Investments ~ Nov 07, 2017

DuPont’s Expected Sale of Cellulosic Biofuels Plant is a Sign of the Times
By Ken Silverstein, Environmental Leader – Nov 6, 2017

DowDuPont beats estimates, but remains committed to cost savings, cuts
By Jeff Neiburg – The News Journal – Nov 2, 2017

DowDuPont Cuts Jobs, Closes Plants in Breen’s Plan for Breakup
Bloomberg – Industry Week – Nov 2, 2017

DuPont to sell cellulosic ethanol plant in blow to biofuel
By Michael Hirtzer & Jarrett Renshaw; Reuters ~ Nov 02, 2017

DowDuPont beats estimates, but remains committed to cost savings, cuts
By Jeff Neiburg; The News Journal ~ Nov 02, 2017

FMC Corporation Completes Transformative Transactions with DuPont
Form FMC Corporation; PRNewswire ~ Nov 01, 2017

Sell, invest, sell again: DuPont spin-offs keep bankers busy
By Joseph N. DiStefano; The Inquirer ~ Oct 31, 2017

New DowDuPont patent licenses mean cancer, food research breakthroughs now possible
By Karl Baker, The News Journal – Oct 27, 2017

Biotech patent deal unlocks unlimited potential for DowDuPont
By Karl Baker; The News Journal ~ Oct 27, 2017

DuPont Declares Regular Quarterly Dividend on Preferred Stock
From DuPont; PR Newswire ~ Oct 14, 2017

Investors who opposed DowDuPont breakup plan flip-flop on support
By Jeff Mordock; The News Journal ~ Sep 19, 2017

Will DowDuPont’s product shift bring the ‘old DuPont’ back to Delaware?
By Holly Quinn, Technically Delaware – Sept 13, 2017

After merger, chemistry between DuPont and Dow leading to further changes
By Jennifer Lynn, NewsWorks – Sept 13, 2017

Newly-Formed DowDuPont Is Already Fighting Off Activist Investors
Reuters – Sept 12, 2017

DowDuPont to bolster Delaware spinoff with new product lines
By Jeff Mordock; The News Journal ~ Sep 12, 2017

DowDuPont alters post-merger breakup plans amid investor pressure
Reuters – Sept 12, 2017

DowDuPont Announces Results of Comprehensive Portfolio Review
DowDuPont website – Sept 12, 2017

DuPont quietly offers buyouts to 9,500 pensioners
By Jeff Mordock; The News Journal ~ Sep 06, 2017

DuPont offers buyouts to thousands of pensioners
delawareonline video – Sept 6, 2017

Dow, DuPont Complete $130B Merger, Setting Up Indiana Job Shifts
By Annie Ropeik; WBAA ~ Sep 05, 2017

Dow, DuPont complete planned merger to form DowDuPont
By “Reuters Staff”; Reuters ~ Sep 01, 2017

DowDuPont™ Merger Successfully Completed
DuPont Press Release – Sept 1. 2017

DuPont merges with Dow, and scientists find a new home
By Joseph N. DiStefano; The Inquirer ~ Aug 31, 2017

Cutting-edge innovations could fuel the new DuPont
By Jeff Mordock; The News Journal ~ Aug 30, 2017

Investment in innovation pays off for DuPont's agriculture unit
By Jeff Mordock; The News Journal ~ Aug 29, 2017

S&P 500 shuffled up over Whole Foods-Amazon, Dow-DuPont mergers
By Wallace Witkowski, MarketWatch - Aug 24, 2017

DuPont's latest pension buyout offer needs careful analysis, retiree says
By Joseph N. DiStefano, Philly.Com – Aug 25, 2017

Dow-DuPont merger set for Thursday; new company will replace DuPont on stock list
By BusinessRecord.Com – Aug 25, 2017

Counting down the final days of a stand-alone DuPont Co.
By Joseph N. DiStefano, Philly.Com – Aug 23, 2017

$130 billion Dow-DuPont mega merger closing soon
By Heather Jordan, mlive.com – Aug 17, 2017

DuPont Buys Granular Ag Software Company
By Sonja Begemann; AGPRO ~ Aug 10, 2017

DuPont, Dow Chemical to close merger on Aug. 31
By Jeff Mordock, The News Journal – Aug 4, 2017

DuPont trims environmental costs ahead of merger
By Jeff Mordock; The News Journal ~ Aug 04, 2017

DuPont and Dow Set Closing Date for Merger of Equals
DuPont Investor News – Aug 4, 2017

CFPUA intends to file federal lawsuit against Chemours and Dupont
By WWAY News; WWAY ~ Aug 03, 2017

$50M settlement approved for DuPont mercury contamination
The Associated Press ~ Jul 31, 2017

Investor challenges to DowDuPont spinoffs create uncertainty in Delaware
By Jeff Mordock, The News Journal – Jul 31, 2017

How to Carve Up DowDuPont? Four Activists Sharpen Their Knives
By David Benoit, Fox Business News – Jul 30, 2017

DowDuPont At Last Within Sight
By John Abbink, Seeking Alpha – Jul 28, 2017

DuPont, FMC win EU antitrust approval for asset swap deal
By Foo Yun Chee; Reuters ~ Jul 27, 2017

DuPont's Agriculture, Electronics units fuel strong quarter
By Jeff Mordock; The News Journal ~ Jul 25, 2017

Want to buy a country club? DuPont's is officially for sale
By Jeff Mordock, The News Journal – Jul 19, 2017

Peltz takes aim at Procter & Gamble with playbook from DuPont fight
By Jeff Mordock, The News Journal – July 18, 2017

DuPont declares third-quarter dividend of 38 cents per share
By Jeff Mordock; The News Journal ~ Jul 14, 2017

DuPont Mostly Prevails in $800K Indiana Income Tax Case
By Alex Ebert; Bloomberg BNA ~ Jul 14, 2017

Dow-DuPont: Activist Investors Pulling The Strings
SeekingAlpha – Jul 10, 2017

Dow-DuPont merger inching closer to final approval
By Steve Carmody; Michigan Radio ~ Jul 03, 2017

Dow, DuPont review their planned three-way split
By Joseph N. DiStefano; The Inquirer ~ Jun 29, 2017

Dow, DuPont hire consultant to review post-merger spinoffs
By Jeff Mordock; The News Journal ~ Jun 29, 2017

Dow and DuPont Provide Update on Merger
DuPont Investor News – June 28, 2017

Canada approves Dow, DuPont deal, final merger hurdle cleared
By Jeff Mordock; The News Journal ~ Jun 28, 2017

Grassley Statement on Dow-DuPont Merger
By Senator Chuck Grassley - Jun 16, 2017

U.S. approves Dow and DuPont merger, last hurdle for deal cleared
By Jeff Mordock, The News Journal – Jun 15, 2017

Dow-DuPont Deal Clears India, Leaving U.S., Canada to Sign Off
By Eleanor Tyler, Bloomberg BNA – Jun 13, 2017

Splitting the babies: Billionaire tries to out-spin DuPont CEO Ed Breen, the Breakup King
By Joseph N. DiStefano, Philly.Com - June 9, 2017

Australia will not oppose Dow-DuPont merger
By Jeff Mordock; The News Journal ~ Jun 09, 2017

DuPont spinoff Chemours named to Fortune 500
By Randall Chase, Associated Press - June 7, 2017

DuPont, Chemours donate $5,000 to clean up West Virginia town
By Jeff Mordock ; The News Journal ~ Jun 05, 2017

Activists Misfire on Their Shotgun Wedding
By Stephen Gandel, Bloomberg – June 1, 2017

Dow-DuPont: $20 Billion For A Little Extra Work
Seeking Alpha – May 31, 2017

Activist Investor Floats New Plan To Break Up Dow/DuPont
By Andy Szal, ChemInfo – May 26, 2017

Investor puts out own version of the DowDuPont split
By Alexander Tullo, Chemical & Engineering News – May 24, 2017

What does Loeb plan mean for DuPont's Delaware spinoffs?
By Jeff Mordock ; The News Journal ~ May 25, 2017

Loeb sees $20 billion more value from Dow-DuPont merger
Reuters - May 24, 2017

DuPont Focuses on Spinoffs in Final Share Owners Meeting
By Jeff Mordock, The News Journal - May 24, 2017

DuPont Says Dow Merger on Track to Close By September
By Eleanor Tyler, Bloomberg BNA – May 18, 2017

DuPont reassures pensioners
Jeff Mordock, The News Journal – May 17, 2017

Dow and DuPont Receive Conditional Regulatory Approval in Brazil for Proposed Merger of Equals
DuPont Press Release - May 17, 2017

Alabama city sues 3M, DuPont, others over alleged water pollution
By Dena Aubin; Reuters ~ May 15, 2017

Dow, DuPont Name DowDuPont Board
By Alex Brown; Inside Indiana Business ~ May 11, 2017

Dow, DuPont to review post-merger spin offs
By Jeff Mordock; The News Journal ~ May 11, 2017

Looming Tax Changes Push DuPont to Boost Pension Payments
By Vipal Monga, Wall Street Journal – May 9, 2017

Letter to Editor: DuPont stands behind pension efforts
By Nick Fanandakis, DuPont Executive – May 3, 2017

DuPont ups planned pension contribution to $2.9 billion after bond sale
By Rob Kozlowski, Pensions & Investments – May 3, 2017

DuPont ups pension contribution to nearly $3B
By Jeff Mordock; The News Journal ~ May 03, 2017

Editorial: Retirees right to be wary of DuPont’s latest pension move
Editorial Staff, The News Journal ~ May 03, 2017

Retirees worry about DuPont pension move
By Jeff Mordock ; The News Journal ~ Apr 29, 2017

DuPont borrows $2 billion to fund U.S. pensions
By Joseph N. DiStefano, Philly.Com – Apr 27, 2017

DuPont's first quarter results beat estimates
By Jeff Mordock; The News Journal ~ Apr 25, 2017  

DuPont Settlement Causing Controversy with Waynesboro Officials
By Megan Mathewson; NBC 29 ~ Apr 23, 2017

DuPont's River Contamination Settlement Details Finalized
NBC29 ~ Apr 22, 2017

DuPont, University of Delaware, state officials to launch business incubator
By Scott Goss & Jeff Mordock; The News Journal ~ Apr 21, 2017

Plaintiffs allege DuPont spent more on attorney than C8 tests
By Jeff Mordock; The News Journal ~ Apr 17, 2017

DuPont's 'game changer' Tyvek turns 50
By Jeff Murdock, The News Journal - Apr 14, 2017

DuPont, Dow push back merger date
The Associated Press ~ Mar 31, 2017

Dupont to Purchase Rockland Plant in Agreement
By Ed Morin; Maine Public ~ Mar 31, 2017

DuPont sells part of Stine-Haskell to FMC, saving 600 jobs
By Jeff Mordock; The News Journal ~ Mar 31, 2017

Dow and DuPont Announce Amendments to Transaction Merger Agreement
News Release – March 31, 2017

Farmers Union urges administration to oppose Dow-DuPont merger
By “Agweek Wire Report” ; Agweek ~ Mar 29, 2017

Dow-DuPont Deal Wins Conditional Antitrust Approval From EU
By Aoife White, Bloomberg – March 27, 2017

EU approval boosts Dow-DuPont merger hopes
By Jeff Mordock; The News Journal ~ Mar 27, 2017

Will The Dow/DuPont Merger Close In Q2?
By John Abbink, Seeking Alpha – March 25, 2017

DuPont heirs' pension suit transferred to Delaware
By Jeff Mordock ; The News Journal ~ Mar 21, 2017

Dow & DuPont: The Time to Buy is Now
By Ben Levisohn; Barron’s ~ Mar 06, 2017

Hygiena completes purchase of DuPont unit
By Jeff Mordock; The News Journal ~ Mar 02, 2017

DuPont stock hits 20-year high amid EU approval reports
By Jeff Mordock, The News Journal – Feb 24, 2017

DuPont moving some Kevlar production to Richmond when it closes South Carolina plant
By John Reid Blackwell; Richmond Times-Dispatch ~ Feb 24, 2017

DuPont to close most of Cypress Gardens Road plant; 113 employees affected
By Lindsay Street; The Berkeley Independent ~ Feb 23, 2017

GM, PSA Haggling Over $9 Billion Pension Gap
Industry Week - Feb 22, 2017

Dow-DuPont deal close to winning EU approval
By Carl Surran, Bloomberg - Feb 22, 2017

DuPont settles lawsuits over Teflon-making chemical leak
By Arathy S Nair; Reuters ~ Feb 13, 2017

DuPont Reaches Global Settlement of Multi-District PFOA Litigation
DuPont Investor News – Feb 13, 2017

Dow, DuPont offer to sell businesses to win EU merger approval
By Jeff Mordock; The News Journal ~ Feb 08, 2017

Retirees question DuPont pension funding
By Jeff Mordock; The News Journal ~ Feb 06, 2017

DuPont to contribute $325 million to DB plans in 2017
By Hazel Bradford; Pensions & Investments ~ Feb 03, 2017

Ex-Ag Secretaries Back Dow-DuPont Merger
By Chris Clayton, DTN/Progressive Farmer - Jan 31, 2017

Era ends, DuPont sells its hotel
By Jeff Mordock, The News Journal – Jan 31, 2017

DuPont declares 2017 dividend
By Jeff Mordock ; The News Journal ~ Jan 30, 2017

DuPont CEO Gives Investors Confidence Dow Deal Is on Track
By Jack Kaskey; Bloomberg ~ Jan 24, 2017

DuPont Reports Fourth-Quarter and Full-Year Results
DuPont Website – Jan 24, 2017

DuPont warns of merger delay, reports strong quarter
By Jeff Mordock, The News Journal - Jan 24, 2017

EU Review of Dow-DuPont Deal Could Come Down to Innovation
By Meagan Parrish, ChemInfo - Jan 18 2017

Carper, Coons among Dems slammed for vote with drug companies
By Nicole Gaudiano, The News Journal - Jan 13, 2017

Breen: DuPont to invest $200M in Experimental Station
Jeff Mordock, The News Journal - Jan 9, 2017

Chemours to stay in 'revitalized' HQ
By Jeff Mordock, The News Journal - Jan 9, 2017

Trump Adviser Wants to Stop Megadeals Like Dow-DuPont Merger
By Meagan Parrish, ChemInfo - Jan 9, 2017

Dow, DuPont to make merger case next week to EU regulators
By Carl Surran; Seeking Alpha ~ Jan 06, 2017

DuPont must pay $10.5M in punitive damages in C-8 case
By Jeff Mordock; The News Journal ~ Jan 05, 2017

Editorial: DuPont needs to clean up its act, literally
The News Journal ~ Dec 27, 2016

'Because It is Right': DuPont engineer makes difference
By Jeff Mordock; The News Journal ~ Dec 23, 2016

New Jersey town files $1B lawsuit against DuPont
Jeff Mordock, The News Journal - Dec 22. 2016

Jury orders to DuPont to pay $2M in C-8 case
By Jeff Mordock; The News Journal ~ Dec 21, 2016  

Should You Buy the Dow? E I Du Pont De Nemours And Co (DD) Stock
By Lawrence Meyers; InvestorPlace ~ Dec 19, 2016

DuPont to pay $50 million over mercury dumped in river
By Sarah Rankin; The Associated Press ~ Dec 15, 2016

DuPont Selling Food Safety Diagnostics Unit to Hygiena
Powder & Bulk Solids ~ Dec 14, 2016

DuPont CEO Breen says Trump win unlikely to impact Dow deal
By Ross Kerber; Reuters ~ Dec 08, 2016

NCCo approves $7.5 million DuPont contribution
By Xerxes Wilson; The News Journal ~ Nov 30, 2016

Letter: 2018 Changes to the Pension Plan and Other Post-Retirement Benefits
By Benito Cachinero-Sanchez, DuPont Senior VP Human Resources

DuPont to end pension contribution for active employees
By Jeff Mordock, The News Journal - Nov 17, 2016

DuPont to freeze defined benefit plan in 2018
By Hazel Bradford; Pensions & Investments ~ Nov 17, 2016

Dow-DuPont Said to Expect EU Objections to Merger Next Month
By Gaspard Sebag & Aoife White; Bloomberg Markets ~ Nov 15, 2016

Exclusive: U.S. states join Dow-DuPont merger probe - sources
By Diana Bratz, Reuters - Nov 7, 2016

DuPont launches 12-inch flashing tape for building industry
By Jeff Mordock; The News Journal ~ Nov 08, 2016

EU Commission holds up DuPont-Dow merger review
The Associated Press ~ Nov 04, 2016

Cost cuts help DuPont survive weak sales, write downs
By Jeff Mordock; The News Journal ~ Oct 25, 2016

Forecast as Dow Merger Seen Delayed to 2017
By Jack Kaskey; Bloomberg ~ Oct 25, 2016

Dow Chemical CEO Says DuPont Merger May Be Delayed to 2017
By Rick Clough & Jack Kaskey; Bloomberg ~ Oct 25, 2016

Paid Breaks Can’t Offset Other Compensation Due, Court Says
By Kate McGovern Tornone; Compensation BLR ~ Oct 20, 2016

DuPont to face 10 C-8 trials in three months
By Jeff Mordock ; The News Journal ~ Oct 19, 2016

DuPont Said to Seek Buyer for Herbicides to Ease Merger With Dow
By Andrew Marc Noel; Bloomberg ~ Oct 14, 2016

DuPont's Breen to speak at Chamber of Commerce dinner
By Jeff Mordock ; The News Journal ~ Oct 11, 2016

Court overturns ruling for DuPont in overtime suit
By Jessica Masulli Reyes; The News Journal ~ Oct 10, 2016

5 things to know about Europe DuPont review
By Jeff Mordock , ; The News Journal ~ Oct 07, 2016

Is DuPont Counting Its Merger Chickens Before they Hatch?
By John Bromels; The Motley Fool ~ Oct 08, 2016

Europe restarts DuPont merger review
By Jeff Mordock; The News Journal ~ Oct 04, 2016

Editorial: DuPont cannot shirk pension promises
The Editors; The News Journal ~ Sep 28, 2016

Ahead of merger, DuPont retirees worry for their pensions
By Jeff Mordock, The News Journal - Sept 24, 2016

Roadblocks remain for DuPont-Dow merger
By Harry Themal; The News Journal ~ Sep 23, 2016

DuPont official defends merger in Senate hearing
By Jeff Murdock, The Journal News - Sept 20, 2016

DuPont merger Senate hearings could focus on antitrust concerns
By Jeff Mordock; The News Journal ~ Sep 19, 2016

Dissecting Dow And DuPont Deal: Concern Over Concentration
From “Trefis Team”; Forbes ~ Sep 15, 2016

DuPont to resume giving raises and promotions
By Joseph N. DiStefano; The Philadelphia Inquirer ~ Sep 15, 2016

DuPont Senate hearing scheduled for Sept. 20
By Jeff Mordock; The News Journal ~ Sep 12, 2016

EU regulators halt Dow, DuPont merger review to gather data
By Foo Yun Chee; Reuters ~ Sep 09, 2016

Could the Senate Pull the Plug on the Dow-DuPont Merger?
By John Bromels, The Motley Fool - Sept 8, 2016

Judge: clock ticking on DuPont C-8 settlement claims
Jeff Mordock; The News Journal ~ Sep 08, 2016

European Union grants 10-day extension for DuPont merger review
By Jeff Mordock; The News Journal ~ Sep 03, 2016

Dow Chemical Deal With DuPont Could Be in Trouble
By Tony Owuse, The Street - Aug 31, 2016

DuPont pension choice: 'The company has scared everybody'
By Joseph N. DiStefano; The Philadelphia Inquirer ~ Aug 29, 2016

U.S. Senate to hold Dow-DuPont merger hearings
By Jeff Mordock, The News Journal - Aug. 24, 2016

European Union reviewing DuPont-Dow merger
By Jeff Mordock, The News Journal - Aug. 16, 2016

Dow and DuPont Statement Regarding Phase II Review by European Commission
Investors.DuPont.Com - Aug. 11, 2016

Chemours to stay in Wilmington; 1,000 jobs kept in Del.
Jeff Mordock, The News Journal 7:27 a.m. EDT August 2, 2016

DuPont earnings exceed expectations
Jeff Mordock, The News Journal – July 26, 2016

Top DuPont executive may testify in C8 cases
By Jeff Mordock, The News Journal – July 25, 2016

DuPont-Dow merger approved by shareholders
By Jeff Mordock and Scott Gross, The News Journal – July 20, 2016

Collection of The News Journal Articles on DuPont

After Dow-DuPont merger, more pain or gain?
By Jeff Mordock; The News Journal ~ Jul 15, 2016

Jurors say DuPont acted with malice, award $5M to ill man
The Associated Press ~ Jul 06, 2016

Buccini/Pollin appears to be buying Hotel du Pont
By Jeff Mordock, The News Journal – Jun 28, 2016

DuPont & Dow Chemical: Odds Are Good You Can Buy Them Cheaper Later
By Ben Levisohn; Barron’s ~ Jun 28, 2016

Why Pending New Chemical Regulations Won't Hurt DuPont, Dow, or 3M
By John Bromels,TMF; Fox Business ~ Jun 28, 2016

A last-minute hurdle for Dow-DuPont deal?
By John Russell; Indianapolis Business Journal ~ Jun 17, 2016

Dow and DuPont Decide On Merger in July
WHOTV.Com – June 16, 2016

Grassley asks Justice Department to closely review Dow-DuPont deal
By Christopher Doering, Des Moines Register – June 14, 2016

Justice Department should analyze Dow-DuPont deal: senator
By Tom Polansek, Reuters – June 14, 2016

Farm groups ask feds to oppose Dow-DuPont merger
By Jeff Mordock, The News Journal – June 8, 2016

  Suggestions and comments about this website should be addressed to webmaster@nrln.org. Last updated: December 14, 2018