NewHampshire Black Bears
Veteran
- Aug 20, 2002
- 10,154
- 681
WorldTraveler said:I believe you are exactly right, UAFA21. The PBGC will fight UAL's attempts to terminate their pensions tooth and nail and drag things out as long as they legally can. It is very likely that Congress will get involved; if Congress was brought to bear to put pressure on UAL re: retiree medical benefits, you can bet they'll have something to say about pensions.
The sad reality is that the longer UAL takes to resolve the pension issue, the longer it takes UAL to get back on its feet and competing. The PBGC is probably willing to make an example of UAL in order to prevent them from dumping their pensions unless UAL ceases to operate. The best thing UAL could do is accept responsibility for the pension obligation and design a business plan that includes keeping the pension plans. Unfortunately, UAL will probably continue to expect everyone else to fix its problems - a stance that could well be part of the death sentence for UAL - although there are plenty of people who do not want to admit or hear of the severity of the this situation in determining UAL's future.
[post="167396"][/post]
------------------------------------------
I agree with world traveler, UAL has MORE to worry about than their(soon to be raped) employees, namely "THE FEDS" !!!!!!!!!!!!!!
The Feds/Congress will surely make an example out of UAL, so this "thing" does'nt snowball onto any more carriers(Pension Plans).
Having said that,
(If all else fails), before UAL gets to "victimize" and "torture" it's employees, the employees CAN, (and should consider) ENDING UAL, on their(employees) terms, and NOT UAL's terms. !!!!!!!!!!
I SERIOUSLY hope to GOD that it does'nt come to "this", but if I'm going to be "thrown overboard", YOU CAN BET YOUR A$$ that I will take my "attacker" with me.
NO ONE at United deserves to be treated like this !!!!!!!!!!!
(IMHO), I praise ALPA for "drawing a line in the sand" AGAINST UAL.
Wishing for the BEST result POSSIBLE for all UAL employees !!!!!!!!!!!
NH/BB's