In quarterly SEC report, a retirement plan warning

I’ve just breezed through Gannett’s third-quarter 10-Q report, filed earlier today with the U.S. Securities and Exchange Commission. Two items jumped out; I’m repeating the text word for word:

  • For 2009, the company’s expenses for its qualified retirement plans may increase substantially as the market value of plan assets has declined as a direct consequence of the recent financial market disruption. The impact of changes in plan asset values will not be precisely known, however, until the end of 2008.
  • The company has further plans to significantly reduce company wide expense levels in the face of these economic factors and the competitive pressures facing its businesses.

SEC 101
Gannett and other companies whose stock is owned by the public must file a 10-Q to formally report quarterly revenue and earnings; the company already made its informal disclosure last month.

What did I miss? Please post replies in the comments section, below. E-mail confidentially via gannettblog[at]gmail[dot-com]; see Tipsters Anonymous Policy in the green sidebar, upper right.

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