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On Thu, 12 May 2005 19:04:40 GMT, "Jay Honeck"
wrote: 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. The guarantee of course is by the American taxpayer. (Speaking of the nation, not the airline.) I have little sympathy for airline employees, who in the good days set the airlines up for future bankruptcy much as the United Auto Workers did. (To be sure, the airlines and the auto mfgrs were enablers.) Who in his right mind believed that generations of workers could retire at 60 with $50/$60/$70K annual pensions and medical benefits for the next twenty or thirty years? The pension overhang guaranteed by the PBGB (whatever the order of the letters: PGBB?) is half again as large as the savings & loan bailout that wrecked the economy in the 1980s. -- all the best, Dan Ford email (put Cubdriver in subject line) Warbird's Forum: www.warbirdforum.com Piper Cub Forum: www.pipercubforum.com the blog: www.danford.net In Search of Lost Time: www.readingproust.com |
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