Message #21186

[daisylee]

Having several freinds that have worked both at AA and Andersen Consulting (which broke off from AA to form another company,  does this tell you anything?)..I really don't see this as the "end" for AA, but it will be the beginning of a very, very long uphill battle to regain confidence and marketshare.  After all, you can't be known as "the Firm", and not retain some clout.  But Enron...well, that's just another in a very long line of business failures, both on the large and small scale.  And it probably won't be the last!  You just have to be mindful of the baskets your eggs are in at all times.  But I really do feel for those people that will loose any gains they may have made.  I hope there is some recourse for them.

Which brings me to another point....in most mutual funds, (and 401K's) you always have the option of opening a money market acount within the fund, and move your money into it so you don't loose it when the market becomes voliatle.  You would be earning much less...but EARNING nonetheless.  Then when the market picks back up, you can start to "re-buy" shares in the mutual fund again.  I was lucky enough to have done this when we rolled over from my old company to the new. I haven't lost a cent! (Let's call it a very happy accident!) And as the old saying goes, no one will take care of you as well as you can! And folks, I say this to you with nothing but your financial well-being at heart!

Here's a toast to a speedy financial recovery to all of us...and the companies we all work for!

Daisylee