United Airlines Leading the Way?

[badshotbob]

[link]http://www.foxnews.com/story/0,2933,156038,00.html[/link]

CHICAGOÂ*"”Â*A federal bankruptcy judge approved United Airlines' plan to terminate its employees' pension plans on Tuesday, clearing the way for the largest corporate-pension default in American history.

The ruling, which carries broad implications for U.S. airlines and their workers, shifts responsibility for United's four defined-benefit plans to the government's pension agency.

New trend? Can't make it, oh well, the gov will bail you out, and then if that doesn't work - who cares, default on your workers' pension..... Hmm...

[tardfarmer]

wonder how many and how much the executive pay raises and bonuses for this maneuver are....

American Corporations have executives that are driven by nothing but greed.

GM and Ford are tanking while Toyota is showing massive profit.

[Wolf killer]

I wish every United Airlines worker could all walk off the job at the exact same time. United would be flat broke in a few days.
IMHO You just don't mess with a persons retirement.

[kevin1]

Can anyone tell me exactly why it's legal for any company to underfund their pension plan in the first place ? [:@]Since you're basically trusting an employer to do your retirement savings for you it seems to me that they should be required to fully fund the plan at all times . Just looking at the underfunding figure it looks like United has been making some expensive decisions all along knowing that they would eventually default on the persion plan , which should be illegal .

The words "breach of contract" are floating in my head , any lawyers care to comment ?

[Deleted User]

[Deleted by Admins]

[badshotbob]

Anyone want to start an airline? Won't really matter if it's successful or not, we'll be filthy rich fat cats with big stoagies and cocktail in hand getting a foot massage from a half naked Penthouse Pet on some Caribbean beach - the "new" American dream.

[tardfarmer]

Anyone want to start an airline? Won't really matter if it's successful or not

We can start out on the right foot and call the new airline "Defunct air"...

But we have to have very scantily clad stewardesses -- AND NO STEWARDS !!!

[kevin1]

ORIGINAL: tardfarmer

We can start out on the right foot and call the new airline "Defunct air"...

But we have to have very scantily clad stewardesses -- AND NO STEWARDS !!!

Not so fast Tard , half of any airline's clientele are women , we don't want a sex discrimination suit on our hands .

[James B]

THIN AIR may be an even better name. Thats what people are walking on if they count to much on a retirement from any company.

[tardfarmer]

Not so fast Tard , half of any airline's clientele are women , we don't want a sex discrimination suit on our hands

I never saw a steward that wasn't a little light in his loafers. I don't think "women" are on their minds...