"Jay Honeck" wrote in message
news:cNNge.76189$WI3.28227@attbi_s71...
Years later, some new jackass comes along, wrecks the company and walks
off
with a $1.5 million guaranteed pension after a trivial amount of time.
Meanwhile, the pilots, flight attendants and everybody else who MADE
UNITED
WHAT IT WAS are screwed out of their contracted pension.

Not to diminish what has happened at United, but it was reported on NPR
that United pensioners are guaranteed their pensions, up to $45K annually.

Speaking as one of the millions who have never had a pension plan -- and
never will -- $45K per year for sitting around the house sounds pretty
danged good.

Of course, that pension will now be paid out by We, the People, instead of
They, the Stockholders...

Really the Pension version of the FDIC (sorry can't remember the name of it)
but since it is running several billion dollars a year in the red you are
right.

But the company ought to be liquadated to pay the pensions. Think of it this
way. You go to work at the airline. They promise to pay you $X now and if
you hang around they will pay you $X after you retire.

Labor is supposed to be the first thing paid.