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antigop

(12,778 posts)

33. Well, the PBGC opposed the termination of pensions from American Airlines

Reply to elleng (Reply #32)

Mon Nov 19, 2012, 05:19 PM

Nov 2012

http://www.businessinsurance.com/article/20120205/NEWS03/302059981

Maybe the PBGC will object to the termination of the Hostess pensions?

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Highlight:

Hostess Brands to terminate pension plan as part of liquidation [View all] antigop Nov 2012 OP

PBGC should sue the execs to recover the money they awarded themselves.. jerseyjack Nov 2012 #1

A-fricking-men! nt raccoon Nov 2012 #19

I agree with you there. nt cstanleytech Nov 2012 #25

Just saw this in another post - about executive bonuses Debau2005 Nov 2012 #2

Executives always make out... awoke_in_2003 Nov 2012 #4

Yes, and Pensions are also part of a contract. Xyzse Nov 2012 #13

I am convinced... awoke_in_2003 Nov 2012 #26

as usual the top will strip the carcass clean leaving the bones for the workers leftyohiolib Nov 2012 #6

Romey's Bain business model. Just what he had in store for us. nt brush Nov 2012 #15

this business model should be made illegal with life imprisonment argiel1234 Nov 2012 #36

Takers reteachinwi Nov 2012 #37

Here's a link to the PBGC, they can add this plan to the list on the right side of the page. jtuck004 Nov 2012 #3

Two must-reads from DailyKos blogs ... SomeGuyInEagan Nov 2012 #5

Thanks -- I hadn't seen those. n/t antigop Nov 2012 #12

That was ALWAYS the plan railsback Nov 2012 #7

Yes, this is exactly correct. Also, closeupready Nov 2012 #8

What investment group sulphurdunn Nov 2012 #9

So I have to pay for the pensions and so do you and you and you so that a few capitalists byeya Nov 2012 #10

"Externalizing costs" isn't that the biz phrase rurallib Nov 2012 #14

But of course. AtheistCrusader Nov 2012 #11

Not so fast. Its 'plan' must be approved in U.S. Bankruptcy Court first, elleng Nov 2012 #16

Unfortunately, from experience in two of them, Fuddnik Nov 2012 #17

Yup. closeupready Nov 2012 #27

Where do you get the idea it won't be approved? n/t antigop Nov 2012 #24

Article I linked to says: elleng Nov 2012 #32

Well, the PBGC opposed the termination of pensions from American Airlines antigop Nov 2012 #33

As it should. cstanleytech Nov 2012 #29

This should be illegal abelenkpe Nov 2012 #18

There is a bill(HR-1322) that has been sitting in the house since at least 2008, which would do.... dmosh42 Nov 2012 #21

This HR 1322? antigop Nov 2012 #34

Here, my friends, are your rat bastard 'Job Creators' Scalded Nun Nov 2012 #20

K & R & AzDar Nov 2012 #22

so it's all a scam yurbud Nov 2012 #23

So shed all $ obligations, re-sell the company to a 'new' company of the same execs with new name? tomm2thumbs Nov 2012 #28

DING! DING! DING! WE HAVE A WINNA! nt antigop Nov 2012 #35

That should be so illegal you get hanged for it. aquart Nov 2012 #30

Taxpayers bail out another corporation. Yo_Mama_Been_Loggin Nov 2012 #31

the PBGC covers pensions of bankrupt companies. IT IS NOT FUNDED BY TAXPAYERS! antigop Nov 2012 #38

Thank you reteachinwi Nov 2012 #39