Found this very interesting and it should give you pause to think, where this will end up. Figure the T/A will pass, just look at U, but after you have given, AMR will go Ch.11 and mgmnt will then ask for a bit more, claiming the T/A''s were not enough. But hey, your Honor, we tried, we really did, but we need just a little more.
Carty will have his retirement protected, but like U, he will probably
get a hold of yours.
This is the big one, someone else did post it, but take another look at it....
From the just-released April 14, 2003, AMR Securities and Exchange Commission filing, page 301, section 2.3 (NOTE: the retirement trust described below was founded on October 14, 2002, at the Wachovia Bank of Delaware):
...the fund shall not be subject to the claims of the creditors of the corporation in a bankruptcy or other insolvency proceeding under Federal or state law, but shall be maintained for the exclusive purpose of providing benefits to Participants under the Plan.
Does not take a genius to figure out who these participants. Clue: It''s not the employees in general.
Carty will have his retirement protected, but like U, he will probably
get a hold of yours.
This is the big one, someone else did post it, but take another look at it....
From the just-released April 14, 2003, AMR Securities and Exchange Commission filing, page 301, section 2.3 (NOTE: the retirement trust described below was founded on October 14, 2002, at the Wachovia Bank of Delaware):
...the fund shall not be subject to the claims of the creditors of the corporation in a bankruptcy or other insolvency proceeding under Federal or state law, but shall be maintained for the exclusive purpose of providing benefits to Participants under the Plan.
Does not take a genius to figure out who these participants. Clue: It''s not the employees in general.
