The City of Dallas Workers have lost 33% of their fund value this year. This means their pension fund is underfunded
http://cityhallblog.dallasnews.com/archives/2008/11/council-member-mitchell-rasans-3.html
Now think about the impact on a MUCH bigger scale. All of a sudden tons of Fortune 500 companies will have underfunded pensions as well. This will drag down earnings growth, hinder job growth or exacerbate the downturn/need for cost savings.
Dan Ross
http://www.BetterBizBooks.com/
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