4th quarter market meltdown was enough to increase the total pension funding deficit by $700 BILLION can you imagine what a real market downturn would do?? pic.twitter.com/WYtJDJSG2e
— steph pomboy (@spomboy) March 7, 2019
Even as corporate executives engage in a spree of share buybacks to spur stock prices higher, many have eschewed adding to their employee’s pension pots.
That’s according to Danielle DiMartino Booth of Quill Intelligence who picked out a few of the more standout firms whose “enthusiasm for funding pensions was subpar compared to buybacks.”
She lined up five of the worst offenders to illustrate that in the pursuit of higher stock prices and shareholder value corporations often left other pressing needs to languish. They include the likes of Boeing Co. BA, -0.86% General Electric Co. GE, +1.45% and Lockheed Martin LMT, +0.04% .
Continue reading “5 companies that spent lavishly on stock buybacks while pension funding lagged”