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To: MythMan who wrote (30934)	10/24/2000 8:26:54 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 436258

however, the pension overfunding game is drawing to an end if the bear market continues. i don't doubt though that GE's cookie jar is nothing to be sneezed at...although it probably pales compared to their ridiculous market cap. mind you, GE is an example of a well run company in many ways, but it's also guilty in the earnings massage department and has its fingers in too many pies for my taste. GE Capital is imo a HUGE risk...and i'm convinced we'll find out just how huge in an economic downturn. rest assured, the downturn is coming...i know you don't believe so, but that's what both the stock and bond markets are telegraphing loud and clear. of course they sometimes give false alarms...though not this time methinks.

To: MythMan who wrote (30934)	10/24/2000 8:29:18 PM
From: LLCF	Respond to of 436258

I wouldn't get too pumped up about accounting reserves... if we get a real recession they'll be taking loan losses like everyone else... possibly worse, they've been jamming all sorts of stuff in that unit for years. BTW, all sorts of companies have had pension surpluses with the run up in stocks... it's a statistical number [the surplus] based on assumed future returns. Any idea what their 'expected returns' on their portfolio is??? Lot's of companies have been moving that number up lately to 'puff up' their surplus. DAK