ivauir said:I know I'm too naive or simplistic to really understand all this fancy manegment talk. Heck until 6 short months ago I was just a caveman frozen in the ice. Now I've been thawed out and put in the right seat of a jet. I don't know much. I don't know this Chapter 11, or 7 or what FMC stands for, but I do know one thing: your word ought to be binding. These companies that promise something and then take it away should have been forced to liquidate before breaking that promise. I'd be hellasorry for the lose of jobs, but they shouldn't be able to rob the good folks who have provided for so long just to keep the doors open another 8 months.
But what do I know my knuckles drag when I try to walk errect.
Can you think of a single liquidation that generated enough cash to fund the outstanding retirement obligations? Maybe it has happened, I don't know. I doubt shutting USAir down and selling it off three years ago would have changed the outcome as far as the defined benefit plans there are concerned.