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pilot602 · March 3rd, 2003, 16:29

[ QUOTE ]
The pension was kept in a seperate, pilot-funded account that the company was supposed to have no access to. Now the federal government said, "Sure, dig in guys" and I guess it's going to eventually end up fattening up the CEO's bonus for this year.

[/ QUOTE ]

The judge let them get the pensions? The last I heard they were trying for it but ALPA was fighting it and also recomendeding that the top three remaining execs (who retired, literally three days befrore CH11) return the 35 MILLION they were awarded in retirement compensation.

Pension funds are supposed to be hands off to management but the are ALAWAYS the first thing to get raided. When Ozark got eaten up by TWA Dad had three years (or five tops, can't remember) he took early retirement to help save his pension from being robbed.

This is why Unions are so important - without ALPA or the other unions management would have a field day with compensation and benefits.

March 3rd, 2003, 16:29	#11
pilot602 Old Skool Join Date: Oct 2001 Location: who haa Posts: 3,755	Re: American Airlines [ QUOTE ] The pension was kept in a seperate, pilot-funded account that the company was supposed to have no access to. Now the federal government said, "Sure, dig in guys" and I guess it's going to eventually end up fattening up the CEO's bonus for this year. [/ QUOTE ] The judge let them get the pensions? The last I heard they were trying for it but ALPA was fighting it and also recomendeding that the top three remaining execs (who retired, literally three days befrore CH11) return the 35 MILLION they were awarded in retirement compensation. Pension funds are supposed to be hands off to management but the are ALAWAYS the first thing to get raided. When Ozark got eaten up by TWA Dad had three years (or five tops, can't remember) he took early retirement to help save his pension from being robbed. This is why Unions are so important - without ALPA or the other unions management would have a field day with compensation and benefits.