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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (2445)	4/24/2003 1:21:30 PM
From: Wally Mastroly	Read Replies (1) \| Respond to of 10065

Greenspan crucial to US economy - some may differ on this statement <G> bday.co.za - link via Les H.

To: Wally Mastroly who wrote (2445)	4/25/2003 7:20:02 AM
From: Wally Mastroly	Respond to of 10065

S&P 500 companies carry $206 billlion in pension shortfalls The Associated Press 4/24/03 5:53 PM NEW YORK (AP) -- The extended downturn in the stock market resulted in a $206 billion shortfall in the pension plans of companies listed in the Standard & Poors 500, a new report says. The shortfall compares to an aggregate surplus of $251 billion in 1999, before the market began its sharp decline, according to the report by Standard & Poor's. The shortfall equates to roughly $10,000 for every employee covered by the plans, the report concludes. "During the late 1990's companies didn't have to contribute to pensions, since their pension funds did so well in the market," S&P analyst Howard Silverblatt said. "Now, after 3 down years, they are having to make cash infusions into the pension plans, resulting in a cash flow drain which can negatively impact earnings and capital expenditures." Just 35 of the companies in the S&P still had surpluses in their pension plans at year's end, while 308 were running shortfalls. That compares to 264 companies that had surpluses in 1999, when only 79 were under funded.