![]() |
If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. |
|
|
Thread Tools | Display Modes |
|
#1
|
|||
|
|||
![]() 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 |
#2
|
|||
|
|||
![]()
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 -- $45K per year for sitting around the house sounds pretty danged good. Of course, that pension will now be paid out by We, the People, instead of They, the Stockholders... -- Jay Honeck Iowa City, IA Pathfinder N56993 www.AlexisParkInn.com "Your Aviation Destination" |
#3
|
|||
|
|||
![]() "Jay Honeck" wrote in message news:cNNge.76189$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. |
#4
|
|||
|
|||
![]()
"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? |
#5
|
|||
|
|||
![]()
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 $X after you retire. Labor is supposed to be the first thing paid. Nope. The first groups paid are the IRS, the bankruptcy trustee, and the bankruptcy lawyers and accountants. Then come the secured creditors, who mainly have claim to physical assets like real estate, aircraft or other vehicles. Next are the priority creditors. Any payroll earned in the previous 90 days and not yet paid, and employee benefit payments due the previous 180 days will allow employees to claim those amounts along with other priority creditors. The shortfalls in payments to the pension plan, other than the payments due in the six months prior to bankruptcy filing, will be part of the unsecured debts. These generally are paid in cents on the dollar, if there is even enough money for that. Therefore, liquidating the airline would only serve to cause many existing employees and suppliers to lose their means of income, and disrupt many cities across the country. If the company can truly restructure into a going concern, then it should be allowed to do so. Otherwise, it would be punishing those that contributed the least to the company's problems. |
#6
|
|||
|
|||
![]()
In article cNNge.76189$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= |
#7
|
|||
|
|||
![]()
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" |
#8
|
|||
|
|||
![]()
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" $45K annually under the new plan, despite the fact that his higher past salary entitled him to a MUCH higher pension payment under the old retirement plan. -- Jay Honeck Iowa City, IA Pathfinder N56993 www.AlexisParkInn.com "Your Aviation Destination" |
#9
|
|||
|
|||
![]() "BTIZ" wrote in message news:6TSge.30596$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. |
#10
|
|||
|
|||
![]()
("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 |
Thread Tools | |
Display Modes | |
|
|
![]() |
||||
Thread | Thread Starter | Forum | Replies | Last Post |
No US soldier should have 2 die for Israel 4 oil | Ewe n0 who | Naval Aviation | 0 | April 7th 04 07:31 PM |
Osama bin Laaden | Big John | Piloting | 2 | January 12th 04 04:05 AM |
Big Kahunas | Jay Honeck | Piloting | 360 | December 20th 03 12:59 AM |
Two Years of War | Stop Spam! | Military Aviation | 3 | October 9th 03 11:05 AM |
U.S. is losing the sympathy of the world | John Mullen | Military Aviation | 149 | September 22nd 03 03:42 PM |