Not exactly...he said "improvident contracts entered into to purchase labor peace"...SWA has no defined benefit pension, and now neither will AA. While the country and it's economy were growing, companies could afford to pay for a retired workforce, but no more, just as municipalities are finding out (see Stockton, CA, and Orange Co. before that.)
Well then, if that is truly the case, than this country CAN'T afford the outsized executive compensation in any industry.
Plot out the last several decades the growth in income of the top 2% compared to the loss of retirement and medical benefits for workers (and the frozen or retracted pay for workers).
You will clearly see where the money went that used to pay for good retirement and healthcare benefits. There's your class warfare.
Last edited: