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NBC's Brian Williams has on NBC Nightly News a report trashing UK/GB Pension Funders who he says are trashing the US because their Pension Funds hold "BP" for that BIG DIVIDEND. He's sounding like the Bushies who hated the FRENCH during Iraq Invasion where "FEEDOM FRIES"/"French Fries" were taken off the White House and Congress Dining Room Menu and Rush and Faux News railed on against the French for not being "compliant" with the US's wishes.
BUT...........
HOW MANY AMERICAN's PENSION FUNDS/IRA/401-K and the REST hold "BP" as a CORE big DIVIDEND "Safety Stock?"
I do and I think some other DU'ers who are OLDER nearing RETIREMENT might also hold this stock as a safe bet for not starving to death after 60.
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Mark Reynolds of the UK Express reports, BP OIL DISASTER SINKS OUR PENSIONS:
Billions of pounds were wiped off the value of pension funds yesterday as shares in BP slumped dramatically because of the Gulf of Mexico oil spill.
One of Britain’s biggest companies and a key indicator of its economy, the oil giant suffered its worst one-day share fall for 18 years.
At its lowest point, the company’s share price was nearly 17 per cent down, although it recovered slightly by the close of trading. Even so, £12billion had been wiped off its market value.
Last night experts were warning that the company had “the smell of death about it” as fears grew that the disastrous leak off the Louisiana coast could continue for another two months after the latest attempt to stem it failed.
Market experts warned that the extraordinary decline of the City heavyweight – a key stock for many UK pension fund investments – would inevitably leave British pensioners poorer.
Pensions expert Alan Smith, chief executive of financial planning firm Capital Asset Management, said: “This is a disaster for BP and most pension funds will undoubtedly have exposure to BP and will be affected. If BP were to halve in value this could lead to pension values going down one or two per cent.
“Pretty much every pension fund in the country owns a bit of BP and it has now fallen some £45billion in value.” Mr Smith added that with the markets expected to struggle, pension funds were likely to sink even further.
“In times like these, with the continuing European debt crisis, there is a lot of nervousness on the markets,” he added. The share collapse means a £15,000-a-year pension will be cut by about £300 to £400 a year, with possibly worse to come.
The BBC’s business editor Robert Peston said: “Given that BP is a core holding of most British pension funds, that’s tens of billions of pounds off the wealth of millions of British people saving for a pension.
“With BP dividends representing about 8 per cent of all income going into those pension funds, and a considerably higher proportion of all corporate dividends received by those funds, if BP’s oil spill causes collateral damage to its dividend-paying capacity, many of us will be feeling a bit poorer.”
Other experts warned that BP could collapse altogether, a fear that sent shock waves through world markets.
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BP oil spill: how are my finances affected?
Mark Reynolds of the UK Express reports, BP OIL DISASTER SINKS OUR PENSIONS:
Billions of pounds were wiped off the value of pension funds yesterday as shares in BP slumped dramatically because of the Gulf of Mexico oil spill.
One of Britain’s biggest companies and a key indicator of its economy, the oil giant suffered its worst one-day share fall for 18 years.
At its lowest point, the company’s share price was nearly 17 per cent down, although it recovered slightly by the close of trading. Even so, £12billion had been wiped off its market value.
Last night experts were warning that the company had “the smell of death about it” as fears grew that the disastrous leak off the Louisiana coast could continue for another two months after the latest attempt to stem it failed.
Market experts warned that the extraordinary decline of the City heavyweight – a key stock for many UK pension fund investments – would inevitably leave British pensioners poorer.
Pensions expert Alan Smith, chief executive of financial planning firm Capital Asset Management, said: “This is a disaster for BP and most pension funds will undoubtedly have exposure to BP and will be affected. If BP were to halve in value this could lead to pension values going down one or two per cent.
“Pretty much every pension fund in the country owns a bit of BP and it has now fallen some £45billion in value.” Mr Smith added that with the markets expected to struggle, pension funds were likely to sink even further.
“In times like these, with the continuing European debt crisis, there is a lot of nervousness on the markets,” he added. The share collapse means a £15,000-a-year pension will be cut by about £300 to £400 a year, with possibly worse to come.
The BBC’s business editor Robert Peston said: “Given that BP is a core holding of most British pension funds, that’s tens of billions of pounds off the wealth of millions of British people saving for a pension.
“With BP dividends representing about 8 per cent of all income going into those pension funds, and a considerably higher proportion of all corporate dividends received by those funds, if BP’s oil spill causes collateral damage to its dividend-paying capacity, many of us will be feeling a bit poorer.”
Other experts warned that BP could collapse altogether, a fear that sent shock waves through world markets.
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