Sunday, May 15, 2005

United Could Cause a Landslide of Bankruptcies

What's going to happen if other companies see this as the best time to dump their pension plans? In the long run we taxpayers will have to bail out the Pension Benefit Guaranty Corp.(PBGC) which has a deficit of $23.3 billion as noted in this article.
So in the long run we'll end up paying our own pension and the executives will walk away with their pockets full. This is another way the increase "Share Holder Value". They are propping up earnings based on savings from just such actions. When are people going to catch on...

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