Big company profits to take a hit

  1. 6,975 Posts.
    Evening all,

    The long established blue chips are going to have their profits hit by the market turndown. How so you ask. Well many have defined benefit superfunds which guarantee a capital amount to staff and with markets being as depressed as they have been they are going to have to make good the shortfalls in the funds, which in many cases could be many, many millions of dollars. Imagine, say, a $2b fund losing 10%, thats $200m that need to be made up. Frightening isn't it.

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