RSA Won't Invest in Airline Merger for Now
By Phillip Rawls, Associated Press Writer
Ala. Pension Fund Plans No More Investment, for Now, in Proposed US Airways-America West Merger
MONTGOMERY, Ala. (AP) -- The Retirement Systems of Alabama, which wrote off a $240 million investment in US Airways last year, plans no more investment -- for now -- in a proposed merger of the bankrupt airline with America West.
David Bronner, CEO of the state pension system, said RSA was asked to invest in the proposed merger, but he declined because RSA would not be given a big enough role in directing the new company.
"They just want your money and don't want you to have any control," Bronner said in an interview Friday with The Associated Press.