[Superman]

Ready, guys?

Okay, United management has apparently handled their duties so effectively that United is in bankruptcy asking for something like SEVEN HUNDRED MILLION DOLLARS in concessions and debt forgiveness. One anti-labor cretin I chatted with said that United spent too much money on a vigorous capital-improvement strategy, building new gates, buying new planes, etc. and that this is what caused the bankruptcy, but with the same breath also said the unions are to blame. And he admitted that the United labor contract which is also under consideration at this same time calls for a few bucks per hour in wage CONCESSIONS and benefit REDUCTIONS. It is interesting how conservative folks can blame management problems on unions insisting on unreasonable wage increases, and with the same breath acknowledge that wage DECREASES are on the table. Hmmmm. I guess Logic courses in the South must use a different text from the ones used up here.

Anyway, the union says it will strike viciously to kill the company if the bankruptcy court approved United's request to completely walk away from all its pension obligations, to pilots on down to baggage handlers. No kidding. United is hoping to walk away from all its pension obligations. Analysts say the union should be able to kill this company in roughly two days of striking. Deadline has been extended until the 31st.

If United gets to walk away, then guess who picks up the tab for those pensions? The federal government, funded by hard-working conservative salts of the earth, will pay. Not 100%, but a substantial portion. Are you guys thinking that this is a good use of tax money?

And then there is the broader question. Most of you are probably aware that in my country it's okay to fire individuals a week before their retirement plan vests? And there's more. It's okay for a company to buy another company which has plenty of dough in its retirement coffers, then raid the retirement account for cash and sell off the other parts of the purchased company for more cash. It's been a popular gambit for some time now. Decades.

In bankruptcies, management salaries are not raided. Capital assets are preserved for the most part. It's open season on workers retirement funds.

I'd like to see what union-hating neocon has the balls to post here their support of this practice. Then go on to tell of the wonders of capitalism.