Profitv Sharing Letter....WTF

Profitv Sharing Letter....WTF

Posted in the Walgreens Forum

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wagggever

United States

#1 Sep 3, 2012
Ok.....maybe its because I don't feel to good.....but I am just not getting letter on profit sharing changes coming in november.....said something about groups ane fees.......more changes......ughhhh this company will be the death of me
Geraldo

United States

#2 Sep 3, 2012
wagggever wrote:
Ok.....maybe its because I don't feel to good.....but I am just not getting letter on profit sharing changes coming in november.....said something about groups ane fees.......more changes......ughhhh this company will be the death of me
What this is about is "full disclosure". There are certain fees that companies like JP Morgan charges for 401ks. This change is due to a law that states that companies like JP Morgan must disclose what those fees are and how much.
BigFlats1901

Hixson, TN

#3 Sep 3, 2012
States that they can change your where your money goes based on what they think will do best for you. And they have to say how much is earned, lost, paid in, paid out, paid off. And don't forget, it's JPMorgan, hey can steal it all, pay 2 percent of what they steal in fines, and get away with it. Then they can blame a rogue trader instea of a policy they changed after the fact.
I am not an animal

Pompano Beach, FL

#4 Sep 3, 2012
ERISA is looking more and more like a long con. For those that have left or been terminted, roll that 401k into a personal plan or better yet, pay the 10% penalty and use Ixian no-ship technology to make it disappear from the financial system until it reboots. WTF is no-ship tech? Why every Xmas Yukon Cornelius sings about it.

http://theweeklytelegram.com/

Since: Aug 07

Location hidden

#5 Sep 3, 2012
BigFlats1901 wrote:
States that they can change your where your money goes based on what they think will do best for you. And they have to say how much is earned, lost, paid in, paid out, paid off. And don't forget, it's JPMorgan, hey can steal it all, pay 2 percent of what they steal in fines, and get away with it. Then they can blame a rogue trader instea of a policy they changed after the fact.
Exactly who's money have they stolen?

Since: Feb 12

Location hidden

#6 Sep 3, 2012
wagexa wrote:
<quoted text>
Exactly who's money have they stolen?
They stole a few billion from 401k holders by using their money...it was in the news...another great Wasson idea to change the old 401k company to another band of crooks that goes along with Walgreens new ideals of thievery from employees.

Since: Aug 07

Location hidden

#7 Sep 3, 2012
joeybutterfucco wrote:
<quoted text>
They stole a few billion from 401k holders by using their money...it was in the news...another great Wasson idea to change the old 401k company to another band of crooks that goes along with Walgreens new ideals of thievery from employees.
i have a 401K with JPMorgan thourgh Walgreens Profit Sharing. I didn't see any losses associated with that. There's no option to invest in JPMorgan. I'm invested Total Market, Bonds, and International. I actually gained money this year.
exa

Buffalo, NY

#8 Sep 3, 2012
wagexa.. this all happened around the time of the switch. it was made known that the 2 b lost by jp morgan chase didnt effect walgreens and many other plans.. but they did lost several billion dollars. Douche Bigelow even sent out some letter saying our accounts were fine

Since: Aug 07

Location hidden

#9 Sep 3, 2012
exa wrote:
wagexa.. this all happened around the time of the switch. it was made known that the 2 b lost by jp morgan chase didnt effect walgreens and many other plans.. but they did lost several billion dollars. Douche Bigelow even sent out some letter saying our accounts were fine
We've been with JPMorgan since 2011. The trade loss happened in 2012. And it's a trade loss. Not a loss of profit. They still made a profit.

http://dealbook.nytimes.com/2012/07/13/jpmorg...

"JPMorgan Chase on Friday said that losses on its botched trade had reached $5.8 billion so far this year. Despite those losses, the bank reported a second-quarter profit of $5 billion, down 9 percent."

And they lost money from their own reserves. Unless you bought JPM stock, your investments were not affected.

http://www.cbsnews.com/8301-505123_162-574336... -$2b-loss-what-it-means-to-you /

"Bank and brokerage customers are safe -- there's nothing to worry about this time around. Taxpayers don't have exposure on this trade, because JPMorgan can absorb the trading loss -- the bank has plenty of money on hand to do so. The big losers so far are JPMorgan shareholders."

So please, stop spreading exagerations about JPM "stealing" our money. If you invested in JPM, you are taking a risk like ALL investments are. Investing WITH JPMorgan and investing IN JPMorgan are two totally seperate things.
I am not an animal

Pompano Beach, FL

#10 Sep 4, 2012
It's the interest rate swaps that are bleeding trillions in losses. The IRSwap is how rates on treasury debt have been kept artificially low. Whenever rates go up JPM is getting killed.

http://www.youtube.com/watch...
Bigflats1901

Boiling Springs, SC

#12 Sep 5, 2012
Some of you missed a point, the several billion dollars JPMorgan lost belonged to investors and the only money JP lost was in fines. Their overall profit wasn't affected but the investors' was. If our 401k's are in control of a company that is well know to make way more money for themselves than they do fOr their investors then we are all effed in the A.
The Grumpiest Pharmacist

Pompano Beach, FL

#13 Sep 5, 2012
The true losses are far greater. Revealing the true balance sheet of JPM would threaten national security. Jim Willie's European banker source has been spot on since 2008-very reliable.

Jim Willie: Next Segregated Client Fund Theft Will Be Private Segregated STOCK ACCOUNTS!!
&fe ature=youtube_gdata

Jim Willie: 60000 Metric Tons of ALLOCATED Gold Likely Used by Cartel to Settle Asian Margin Calls
http://www.youtube.com/watch...

Ann Barnhardt - A Matter of Record
http://www.youtube.com/watch...
affirmative-acti on-MGR

United States

#14 Sep 5, 2012
You fear mongers need some finance courses before jumping to conclusions. Your 401k is fine. if you're so worried switch to the stable fund. our just cash out and put the money in your mattress
The Grumpiest Pharmacist

Pompano Beach, FL

#15 Sep 5, 2012
“A federal appeals court on Thursday upheld a ruling that puts Bank of New York Mellon ahead of former customers of Sentinel in the line of those seeking the return of money lost in the 2007 failure of the suburban Chicago-based futures broker.

The appeals court affirmed an earlier district court ruling that the bank had a "secured position" on a $312 million loan it gave to Sentinel, which turned out to have been secured by customer money.

Futures brokers are required to keep customers' funds in dedicated accounts to protect them from being used for anything other than client business. However, Thursday's ruling suggests that brokerages can use customer funds to pay off other creditors, Sentinel trustee Fred Grede told Reuters.
The Grumpiest Pharmacist

Pompano Beach, FL

#16 Sep 5, 2012
http://aheadoftheherd.com/1Articles/RobKirby/...

An excerpt:
How We Know the ESF is the Other Side of These Trades

Morgan Stanley [MS] supplies us with the “smoking gun”. MS grew their derivatives book by 14 TRILLION in notional in the first 6 months of 2011 – virtually all in product [swaps] that requires 2-way / mutual credit lines. MS is a company with about 30 billion in market cap. who could not find a “dance partner”[anyone to buy them for a ‘pittance’] back in 2008 during the financial crisis. The GLOBAL BANKING SYSTEM – in aggregate - does not have sufficient credit lines to allow Morgan Stanley to conduct this level of trading activity in these credit dependent products as reported with legitimate banking counterparties. The notion that this obscene amount of trade represents legitimate business with banking counterparties that was bilaterally “netted” is preposterous and a non-starter. Ergo, the other side of the bulk [if not ALL] of this trade is necessarily the ESF – being done in the name of “national security” and / or the perpetuation of ZIRP and global U.S. Dollar hegemony. This obsequious, crony, insider trade has effectively served as an attempt to re-capitalize an insolvent MS via the public teat.

The Grumpiest Pharmacist

Pompano Beach, FL

#17 Sep 5, 2012
What I have been afraid to blog about: The ESF and Its History_Part 1

&fe ature=player_embedded

Since: Feb 12

Location hidden

#18 Sep 5, 2012
joeybutterfucco wrote:
<quoted text>
Hey asswipe, those losses were due to fraud and investigations are on going...so shut your trap until you have some real knowledge. Regardless if anyone lost or not it is a fact that dealing with an unscrupulous bunch of thieves is not exactly making me feel my money is safe....risk is one thing, outright fraud is another.
Exactly!
THEONE

United States

#19 Sep 5, 2012
joeybutterfucco wrote:
<quoted text>
Exactly!
You talking to yourself now butterbutt?

Since: Feb 12

Location hidden

#20 Sep 6, 2012
THEONE wrote:
<quoted text>
You talking to yourself now butterbutt?
Nope just making sure the idiots read common sense.
BigFlats1901

Blacksburg, SC

#21 Sep 6, 2012
affirmative-action-MGR wrote:
You fear mongers need some finance courses before jumping to conclusions. Your 401k is fine. if you're so worried switch to the stable fund. our just cash out and put the money in your mattress
Did you read the letter OP mentioned? They can choose what to invest your money in now. If you choose stable and they think you need international, you get overridden. That's how they lose your money.

It says they move it as you get closer to retirement but when you type in the link given in your web browser, it states that they can do it every quarter.

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