Goodyear Pension Fund ?
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#2: Goodyear Tire & Rubber Co. (NYSE: GT)Under Funding as a % of Market Cap: -102.82%
2010 Projected Benefit Obligation: $8.337 billion
Total Amount Under Funded: $2.549 billion
Source: UBS
Falling interest rates and volatile stock markets are putting pressure on pension fund returns.
UBS's Janet Pegg warns that lower expected returns will eventually lead to higher pension expenses as companies try to improve the deteriorating funded status of their plans. Pegg's report identifies the 25 most underfunded pension plans, based on a percentage of market cap. We've pulled the 10 worst.
Read more: http://www.businessinsider.com/10-companies-getting-crushed-by-pension-costs-2011-9?op=1#ixzz1ZRfarCne
Editorial : If we move all plants offshore, can we keep our pensions ? Goodyear is number#2 !
3 comments:
Maybe you shouldn't criticize Wall Street so much. Your pension depends on how well it does!!
Dear Anonymous ; 10/01/11
I realize that fact. That is what scares me the most ! One more cut in my pension and there won`t be any pension. WALL-STREET ? Ya Think ? I know, lets put our Social Security on Wall-Street, that`ll work...LMAON !
The whole point about putting YOUR OWN MONEY into Wall Street is the idea that YOU ARE IN A FREE COUNTRY AND SHOULD BE ABLE TO DO WITH YOUR OWN PROPERTY WHAT YOU SEE FIT. If you don't want to do that, that is your business, and shouldn't be forced to put your money into Wall Sreeet. However, Social Security is a dismal performer, and the way it is being run, you will lose it all. Is that ok? There are other investments that would bring a much better return than SS. That way you wouldn't have to worry about YOUR money being spent on things other than YOUR retirement. What's wrong with that?
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