boycott united forever

My dad worked for 24 years at UAL-PDX. Laid him off in his 24th year, a
year before he was eligible for full retirement. He was UAL-PDX employee
of the year a couple of times, received all kinds of awards and bonuses...he
received one award for not missing a day of work for something like five
years.

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.

The best way to solve this problem would be to take the CEO, shoot him
through the head and hang his corpse from a Wall Street lamp post so that
every other executive out there remembers, for example, why the french still
celebrate Bastille Day. But we can't do that.

So boycott United forever and make sure that the rest of the executives in
the aviation industry don't try to pull the same stunt on America's pilots
and airline industry workers.

-c

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...
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"

"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.

"Gig" == Gig 601XL Builder" wr.giacona@coxDOTnet writes:

Gig Labor is supposed to be the first thing paid.

It will be. Oh wait, that's the CEO class salaries and perks that are
going to be paid. Well hell, with the Cheney administration what did
you expect?

Gig 601XL Builder wrote:

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.

Nope. The first groups paid are the IRS, the bankruptcy trustee, and
the bankruptcy lawyers and accountants.

Then come the secured creditors, who mainly have claim to physical
assets like real estate, aircraft or other vehicles.

Next are the priority creditors. Any payroll earned in the previous 90
days and not yet paid, and employee benefit payments due the previous
180 days will allow employees to claim those amounts along with other
priority creditors.

The shortfalls in payments to the pension plan, other than the payments
due in the six months prior to bankruptcy filing, will be part of the
unsecured debts. These generally are paid in cents on the dollar, if
there is even enough money for that.

Therefore, liquidating the airline would only serve to cause many
existing employees and suppliers to lose their means of income, and
disrupt many cities across the country. If the company can truly
restructure into a going concern, then it should be allowed to do so.
Otherwise, it would be punishing those that contributed the least to the
company's problems.

In article cNNge.76189$WI3.28227@attbi_s71, Jay Honeck
wrote:

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.

Unless you're a pilot, forced to retire at 60 by the FARs. Then you
get $28k to live on because you "retired early." Worked hard to build
a nice house? You're going to have to sell it -- you won't be able to
afford the taxes on it.

Sad.

--
Garner R. Miller
ATP/CFII/MEI
Clifton Park, NY =USA=

Unless you're a pilot, forced to retire at 60 by the FARs. Then you
get $28k to live on because you "retired early." Worked hard to build
a nice house? You're going to have to sell it -- you won't be able to
afford the taxes on it.

That's not what NPR said -- although it IS the pilots who will be hurt the
most.

The way they put it, after clearing a 6-figure income as a United pilot, a
retired United pilot would be capped at "only" $45K annually under the new
plan, despite the fact that his higher past salary entitled him to a MUCH
higher pension payment under the old retirement plan.
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"

you work and build a retirement plan based on what you have done and what
the company promised..
and then after you retire.. the company cuts your planned pension from
$60-70K to $45K
how are you going to live now... sell everything you have.. and buy
something cheaper..
unless you already did that to retire..

BT

"Jay Honeck" wrote in message
news:BGOge.76229$c24.4371@attbi_s72...
Unless you're a pilot, forced to retire at 60 by the FARs. Then you
get $28k to live on because you "retired early." Worked hard to build
a nice house? You're going to have to sell it -- you won't be able to
afford the taxes on it.

That's not what NPR said -- although it IS the pilots who will be hurt the
most.

The way they put it, after clearing a 6-figure income as a United pilot, a
retired United pilot would be capped at "only" $45K annually under the new
plan, despite the fact that his higher past salary entitled him to a MUCH
higher pension payment under the old retirement plan.
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"

"BTIZ" wrote in message
news:6TSge.30596$fI.11949@fed1read05...
you work and build a retirement plan based on what you have done and what
the company promised..
and then after you retire.. the company cuts your planned pension from
$60-70K to $45K
how are you going to live now... sell everything you have.. and buy
something cheaper..
unless you already did that to retire..

In that case you screwed up. Planning on retirement income outside what you
have stashed away is foolhardy.

("Garner Miller" wrote)
Unless you're a pilot, forced to retire at 60 by the FARs. Then you
get $28k to live on because you "retired early." Worked hard to build
a nice house? You're going to have to sell it -- you won't be able to
afford the taxes on it.

Sad.


1. ROTH
2. IRA
3. Sell house (downsize) ...pocket up to $500K tax free
4. Avoid debt
5. Avoid divorce
6. Morning shift at McDonald's is usually the older English speaking gals.
Start here, unless your Spanish is passable enough for the afternoon and
evening crews.


Montblack