Central States Net Assets Down $3.063 Billion In First Six Months Of 2008

Discussion in 'UPS Union Issues' started by JonFrum, Aug 9, 2008.

  1. JonFrum

    JonFrum Guest

  2. Baba gounj

    Baba gounj pensioner

    That is very sad & bad.
     
  3. paidslave

    paidslave New Member

    In case you haven't followed the stock market and Housing Markets. These funds are invested in Stocks, Reits, Financials ect.. Which have had a retraction.........



    Most 401k's are is down 10-15% for the year in most cases and it seems this may be a reason why assets are down!

    I am not a financial guru bet I would say this is one of the factors!
     
  4. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    I agree with Paid Slave as I am sure the fund(s) have some if not most of their assets invested in the stock market. However, a loss of $3B is still mind-boggling, even if it is only on paper.
     
  5. mrvngrdns

    mrvngrdns New Member

    Without doing the math, it seems the fund is down around 10%, which is in line with a conservative investing approach, considering the recent stock market retraction. Nothing to worry about.
     
  6. JonFrum

    JonFrum Guest

    The Fund is in the financial Red Zone ("critical") to begin with, then it drops over $3 billion in just the first six months of 2008, and you say, "Nothing to worry about."

    I believe you have what it takes to be a pension fund Trustee!!!
     
  7. Ahhh and the real irony is that the $3.0 Billion DROP is after UPS paid in $6.1 Billion in December . . . So the real figure is ?? Is it really $9.1 Billion ??
     
  8. brownmonster

    brownmonster Man of Great Wisdom

    Don't overreact like the Govt. Markets go up and down. Now if the market doubles in the next few years and the fund doesn't, then some questions need to be asked.
     
  9. Mike Hawk

    Mike Hawk New Member

    3 billion drop in the first six months of 2008, lets see is December one of the first six months? No, that must have been the previous year so the down 3 billion figure has no relationship with the buyout, it's understandable you are an idiot, you are from Atlanta.
     
  10. satellitedriver

    satellitedriver Moderator Staff Member

    Hey Jon,
    How did your portfolio do in the same time frame?
     
  11. JonFrum

    JonFrum Guest

    I've had all my money in Money Market Funds for years now. I have thus avoided all the losses many others have experienced over the years, and the risk and uncertainty, too. On the other hand, Money Market Fund returns are modest, so I pass up the chance to make a big score. (I'm not necessarily recomending this strategy to everyone, just answering the question.)
     
  12. mrvngrdns

    mrvngrdns New Member

    I'm not critical of anyone's investing approach, you have to do what helps you sleep at night, and if being ultra-conservative is good for you, so be it. But you have to realize that inflation is eating up your savings, because it's growing much faster than any interest that your money market account pays. And it's ludicrous to suggest that a pension fund limit it's investments to such an approach. I do believe that they should be conservative by nature.