"But...........but.........but.........it wasn't suppose to happen this way!!!!
Thanks again Delle!!!!!
Reuters
Mechanics concerned about United pension plan
Wednesday July 21, 2:11 pm ET WASHINGTON, July 21
(Reuters) - United Airlines mechanics fear a decision by the carrier to
defer $72 million in pension payments will have a severe long-term
impact on their retirement benefits, the union said on Wednesday.
O.V. Delle-Femine, national director of the Aircraft Mechanics Fraternal
Association, said that interest is occurring on the deferred amount and
putting pension plans at greater risk. (imagine that!!)
If United is unable to make up the deferred payment with interest, this
will cause major problems with the plans, Delle-Femine said after a
meeting between union and airline executives.
United, a unit of UAL Corp., deferred its quarterly pension payment last
week to give it more flexibility for managing resources as it tries to
secure investors for bankruptcy exit financing.
Maybe you need to loosen up that cap Delle!!!!!
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Thanks again Delle!!!!!
Reuters
Mechanics concerned about United pension plan
Wednesday July 21, 2:11 pm ET WASHINGTON, July 21
(Reuters) - United Airlines mechanics fear a decision by the carrier to
defer $72 million in pension payments will have a severe long-term
impact on their retirement benefits, the union said on Wednesday.
O.V. Delle-Femine, national director of the Aircraft Mechanics Fraternal
Association, said that interest is occurring on the deferred amount and
putting pension plans at greater risk. (imagine that!!)
If United is unable to make up the deferred payment with interest, this
will cause major problems with the plans, Delle-Femine said after a
meeting between union and airline executives.
United, a unit of UAL Corp., deferred its quarterly pension payment last
week to give it more flexibility for managing resources as it tries to
secure investors for bankruptcy exit financing.
Maybe you need to loosen up that cap Delle!!!!!
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