U.S. companies face $409 billion pension deficit: study - Yahoo! Finance: "NEW YORK (Reuters) - Volatile markets have saddled U.S. companies with a $409 billion deficit on pension plans, reversing a $60 billion surplus a year earlier, and will cut into earnings in 2009, consulting firm Mercer said."
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The scariest thing about the economy is not the indices--the Dow, the NASDAQ, etc.--because they go up and down all the time. They will go up again. It is the shockingly precarious financial situation of so many institutions, and at a time when the big daddy bank, the US government, is massively in debt with no end in sight. We have states hovering near insolvency, cities and counties bleeding money, major corporations going belly up, and on and on. This means that many people will be hit hard when particular companies or governments...or hoas and condo associations...go under.
2 comments:
Perhaps now is the time to hit the HOAs the hardest - when their the most financially vulnerable. They have operated against homeowners rendered financially vulnerable via one-way compensating attorney fee and civil damage laws for decades. People should have the right to disassociate from HOAs that collect fees primarily only for the ongoing existence of HOAs.
Oops, meant "they're"
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