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Originally posted by Superman
I got as far as RallyJon's remarks before I HAD to post. Yes, this is a Superman thread.
No RallyJon. The unions did not let management into the pension fund. The bankruptcy judge reached in there. And with all due respect (here, I am offering all the respect that is DUE, if any) to the cretins here who like to comment on how okay it is for corporation to rape employees and consumers, I have this message: If you can post your support here for the theft of retirement funds by corporate interest in order to pay off accounts payable to other corporate interests at the end-of-career expense of dedicated and skilled workers like airline Captains, then let's see it. Let's see you fine upstanding conservative Republicans tell us it's within your value system to reneg, at the last moment before retirement, on a career-long commitment to the workers who built your company.
Let's hear that.
What makes anyone think it's acceptable to leave workers high and dry, who were given a commitment to provide a defined pension? Show me the kind of twisted logic that allows Enron to pay other corporations by raping defined-benefit pension accounts. I'm very interested to hear how this works within your value system and your patriotism.
In the absence of this commitment, I can certainly understand the need to create our own retirement accounts. These 747 Captains hung up their stars after serving their duty in the military, and entered into contracts with the airline industry that included these retirement commitments. In the absence of these commitments, those workers would have created their own accounts. They would not have accepted the pension as a part of the compensation package.
So again.....let's hear about those lofty conservative values and how they allow corporations to rape the men and women who built them.
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As opposed to the democratic union ideal of being paid 5x the market rate for subpar quality and lazy workers, thereby forcing the company to leave the town/country/city in order to maintain a sustainable profit/loss rate?
I would say that ultimately, neither system is very wise.