Huge 'shareholder' profits w.r.t. man-in-street's pension

Yesterday's results from Shell prompted the usual round of calls for windfall taxes and no doubt fat cat/shareholder comments.

I have maintained for a long time that those investing into or receiving money out of pensions will be getting a slice of this action since most pension companies have at least some of their pension funds invested in equity and are likely to have holdings in some of the big FTSE100 PLCs e.g. Shell (& Rio Tinto who also reported yesterday), but there seemed to be a blind denial (ignorance?) of this. In fact, you only have to read FTSE100 companies' annual reports to see where the large (greater than 3% i.e. 'notifiable') shareholdings are.

However, there always seems to have been an implication that shareholders were 'them' stealing all the profit and the 'us' were not getting any of the action.

For the first time, I have a comment in the media that some of those huge profits are going towards the man-in-the-street's pension. And in the Guardian of all places! A good article in this respect, I thought.

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Allan

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Allan Gould
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