Today's number: 3,000: Management jobs that high-tech bellwether Hewlett-Packard Co. last week said it would trim — about 3.5 percent of its work force — to deal with a worldwide sales slowdown.

        Today's money tip: Pension maximization, or just pension max, is a strategy by which married couples select the life-only option, then use a portion of the benefit to pay for a life insurance policy on the pension holder, with the spouse as beneficiary.

        The theory is that even after the policy premium, the life-only option provides a greater benefit than the joint and survivor option. But this isn't always the case.

        Depending on your health late in life, the premiums on such an insurance policy might be very expensive. And unlike a pension annuity, an insurance payoff likely won't provide your spouse with a guaranteed income each year — a significant factor if your spouse outlives you by a considerable period. So while pension maximization might make sense for you, it isn't the universally good idea that some insurance salesmen make it out to be.

        (From Smart Guide to Planning for Retirement.)

        Today's career advice: There are a few specific guidelines managers can follow to ensure that a termination is conducted in the most sensitive and appropriate manner, according to career managing consulting firm Manchester Inc. One suggestion: Schedule the meeting for early in the week. Fridays should be avoided whenever possible, since the affected employee would then be forced to wait until the following Monday before receiving support, such as outplacement assistance.

        Today's company: Montgomery Inn

• FIRST A BAR, THEN BARBECUE: Ted Gregory opened McCabe's Inn in Montgomery in November 1951. It was a watering hole only, since the kitchen was leased to someone else. Mr. Gregory's wife, Matula, packed him a lunch every day, which he often shared with friends. When she sent him ribs with barbecue sauce, her recipe earned raves from Mr. Gregory's buddies and launched his career as a restaurateur. The establishment's name was later changed to Montgomery Inn.

        • OFFSPRING: In 1989 the Gregorys opened Montgomery Inn at the Boathouse. A banquet and conference facility in Sawyer Point opened in 1998. Last month the restaurateur expanded across the river with a Montgomery Inn in Fort Mitchell.

        • CLAIMS TO FAME: The Food Network, looking for food icons nationwide, plans to tape a segment on the Montgomery Inn this summer. Recently Restaurants & Institutions magazine listed 400,000 independent U.S. restaurants by revenue. The Boathouse ranked 20th; the original Montgomery Inn was 47th. They were the only restaurants in Ohio, Kentucky and Indiana to make the list's top 100.

        Send your tips and questions to Bill Ferguson at bferguson@enquirer.com.

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