And so it begins: United is defaulting on its pension. Only the strongest optimists can believe that this action won't be followed by many other corporations (starting with other airlines) seeking bankruptcy to get out from under their crushing pension obligations. And once all those retirees get significantly reduced incomes and medical benefits, guess what the impact will be? Not pretty.
Posted by Tom Nugent at May 11, 2005 09:25 AMSo that's why my parents gave me a lecture on life insurance, saving, and pension plans at dinner...
Posted by: Seth Matheson at May 11, 2005 05:33 PM