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Will "socialist" Canada dump Air Canada worker pensions?

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Rez O. Lewshun

Save the Profession
Joined
Jan 19, 2004
Posts
13,422
Air Canada seeks to halt pension funding
Facing a liquidity crisis, Air Canada CEO Calin Rovinescu says the carrier needs "immediate" relief from pension funding requirements. Air Canada, which lost $342 million in the first quarter, is asking its 25,000 employees and 25,000 retirees for a funding "moratorium."


http://atwonline.com/news/story.html?storyID=16562

http://online.wsj.com/article/SB124182028211901989.html?mod=dist_smartbrief


I thought Canada was perfect Rez....You are the one that was preaching the virtues of Canada and the unions...
 
The Air Canada pensions survived their bankruptcy and the years after 9/11. Now the company is asking for more time to clear up a shortfall in the pension funding, mainly brought on by decreased portfolio values.

Canada is not perfect by any means, but as a pensioner, it is a much safer place to be than the USA. History has shown us repeatedly that pensions are not safe in the states, they are regarded as sacrosanct in Canada. The Air Canada pensions will still be there in 10 years.
 
I would hardly call a "moratorium on funding" a precursor to "dumping pensions", Rez. That was a bit hysterical on your part.

What is your point, exactly?
 
The Air Canada pensions survived their bankruptcy and the years after 9/11. Now the company is asking for more time to clear up a shortfall in the pension funding, mainly brought on by decreased portfolio values.

Canada is not perfect by any means, but as a pensioner, it is a much safer place to be than the USA. History has shown us repeatedly that pensions are not safe in the states, they are regarded as sacrosanct in Canada. The Air Canada pensions will still be there in 10 years.

I hope you are correct. Actually, I hope they go on much longer.
It is easy for Yanks to snipe at the Canuks but considering how much Canada has shouldered for the effort in Afghanistan I am very thankful. Sorry for thread drift.

Cheers- Rum
 
Its funny that everyone bashes "socialist" Canada. Yet everyone I know up there (some of my best friends) love to be Canadian. He11, they can even afford to get an MRI that I can't afford. They may have to wait 1 month, but, they will get one. Its gonna cost me $500 for a stupid friggen scan. Since it isn't a major thing, I'm gonna go on without an MRI with a screwed up leg since I can "live with it". Yet in Canada, I would be able to get an MRI and find out whats wrong. I hate those socialists. Screw their healthcare. Even though ITS FREE!
 
Canada does not own banks, car companies, mortgages.

US does..........who is more socialist?
 
I would hardly call a "moratorium on funding" a precursor to "dumping pensions", Rez. That was a bit hysterical on your part.

What is your point, exactly?


Read post #3, 7 and 8
 

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