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AMR Under Federal Pressure Over Pensions
American Airlines trying to DUMP pensions onto the American tax payer. (www.aero-news.net) עוד...Sort type: [Top] [Newest]
I am not a union sympathizer but this chapt 11 business plan is BS. And putting the taxpayer on the hook for private business is more of the same BS. Pay your debts before you buy anything. If you can't pay your contracts then fold em.
PBGC has already frozen somewhere in the neighborhood of $76m in AMR assets to cover the 2011 shortfall in pension contributions. AMR's contribution should have been around $96m, but only put in $22m. Kudos to PBGC for having the foresight to protect the pensions thru 2012. The head of the PBGC is appointed by the president. AMR retirees ought to get out there and vote this time, instead of sitting on their asses like most did last election.
Be careful! Google Chrome is telling me there is malware on the www.aero-news.net site, and I could get affected if I continue. It is the first time I got a red screen warning with that information.
They want to not pay the bills they promised to pay. They do not want to pay for the retirement of thousands of workers who faithfully worked for years to earn that retirement. They want us the taxpayers of America to pick up their tab and fund the retirees at some percentage of what they were promised. But you can bet your #$$ that all of the golden parachutes were paid in full!
The argument that "the other airlines did it" does not make it right now or when the others got away with it.
The argument that "the other airlines did it" does not make it right now or when the others got away with it.
I beg to differ Mr Smith. American is taking the easy way out NOW, or at least trying to and the PBGC is also saying the same thing to American. That is why the PBGC has filed a lawsuit against American, for NOT properly funding the pensions they promised to pay.
Mean while American continues to accept multi-million dollar aircraft as well as order 250 MORE new airplanes. Yet they won't put the monies into the pensions they promised they would.
The unions as well as the PBGC are simply asking American to pay what American promised to pay.
Should AMR NOT pay their obligations then WE the Tax payers of America have to pay and WE the tax payers are fed up with deadbeat companies trying to take a free ride on the our backs!
Mean while American continues to accept multi-million dollar aircraft as well as order 250 MORE new airplanes. Yet they won't put the monies into the pensions they promised they would.
The unions as well as the PBGC are simply asking American to pay what American promised to pay.
Should AMR NOT pay their obligations then WE the Tax payers of America have to pay and WE the tax payers are fed up with deadbeat companies trying to take a free ride on the our backs!
Way to go AMR. How's top-level management weathering this storm I wonder?