Jim,
So – the pension fund deficit of British Telecom (not the pension fund obligation, just the deficit!) is more than the market cap of the whole damn company??? This cannot be an isolated incident. We are in so much trouble it defies description. Only a fool doesn’t have Gold in his hand.
Regards,
CIGA Pedro
BT may face £11 billion pension deficit
Wed May 13, 2009 4:15pm BST
LONDON (Reuters) – BT is underestimating its pension fund deficit and faces a shortfall of at least 11 billion pounds, 50 percent higher than its market value, a leading pensions expert said on Wednesday.
"BT is a badly-run hedge fund which just happens to own a phone network," independent pensions consultant John Ralfe said in an analysis of the telecoms company’s retirement fund.
He said BT would underestimate its actuarial deficit at between 5 billion and 7 billion pounds when it reports results on Thursday and may need to double its contribution in coming years.
Some analysts have put the deficit at 8 billion pounds. BT has a market capitalisation of 7.5 billion pounds.
CIGA Pedro,
All these obligations in all their forms will fail. In fact they have already failed. There is no practical fix therefore there will be no fix.
This is a culling of the gene pool wherein the Bankster’s gene will survive, and that simply is what it is.
Can you imagine a world made up of all that?
We really need a Second Coming quickly.
Jim
Jim,
Comments:
Retail sales have been weak for some time. The "Green Shoots" propaganda works only if you’re lazy, preoccupied, or not paying attention.
CIGA Eric
