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SBC Communications Inc. (SBC) Message Board

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  • thesouthwasright_99 thesouthwasright_99 Jul 2, 2002 12:48 AM Flag

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    I have reported this Pension Fund scam on this board several times for over a year. Many large companies would have no profits if not for the use of fictious Pension Fund gains.

    I still think this is yet another bombshell to go off. At some point the magic bean counters will have to fess up, and take down those earnings numbers. How can they keep showing estimated projected Pension Fund earnings, when they have actually declined for 3 years ! Some of these Funds are approaching under-funding. How can they explain to share holders "estimated gains of blah-blah, but had to pay in $3 billion dollars on under-funded Pension Fund."
    I estimate for SBC those projected earnings from the over funded Pension Plan are about $1.10 per share.
    From the annual report, the Pension Fund has actually lost money each of the last 2 years. Assets have dropped from $45B to $32B. Minimum funding is $25B. Yet the magic bean counters continue to show earnings on the Corporate bottom line.

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    • So you're short and you want the stock to go down and you hope to arouse suspicion of the pension fund. Wrong. It has been gone over with a fine tooth comb. Give us a link if you really want to prove a point.......or just go away. Anybody who would short this stock is not a very good trader. I will not tell you which stock is a better short because I'm not in the mood to do anybody else's homework.

 

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