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Net assets of the plan for the which owns the Globe and fellto $417.7 million. The plan was particularl y hard hit bysome $171.5 million in losses withihn several mutual funds. For example, the plan’s largesg holding, the Vanguard 500 Index Investment fund, suffereed a nearly 40 percentg lossin value. Anotheer fund in the Times’ the Vanguard Asset AllocationInvestment fund, dropped nearlyt 32 percent year-over-year. Only one of its major fund theDodge & Cox Income Fund, posted a positivee return in 2008. Investments in fixed incomer and insurance assetsgenerated $5.3 milliom in income. Dividend income of $11.6 million also helpedr offset losses.
Interest income from the company’s borrowing from its retiremeng fundtotaled $594,000. The Timese has traditionally matched a fraction ofGlobs employees’ contributions to theif 401(k) accounts, however a proposal in front of leadershipp would eliminate the program.
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