Pilots helping pilots

View over 100 airline profilesAdd to Google



Go Back   Airline Pilot Central Forums > Airline Pilot Forums > Major > CAL/UAL Merger
Register FAQ Advertising Calendar Search Today's Posts Mark Forums Read

CAL/UAL Merger News, Updates, and Opinions on the CAL/UAL Merger.

 

Welcome to Airline Pilot Forums

    Already registered? Login above

OR
 
To take advantage of all the site's features, become a member of
the largest community of airline pilots in the U.S. and beyond.

The advertising to the left will not show if you are a registered user.


Reply
 
Thread Tools Search this Thread Display Modes
Old 06-14-2011, 07:22 PM   #1 (permalink)
APC co-founder
 
HSLD's Avatar
 
Joined APC: Feb 2005
Position: B-777-200
Posts: 5,104
Default PBGC not good enough for NASA

Your tax dollars at work: http://www.nytimes.com/2011/06/15/business/15nasa.html
HSLD is offline   Reply With Quote
Advertising above will not show if you are a registered user.
Old 06-14-2011, 07:27 PM   #2 (permalink)
Moderator
 
UAL T38 Phlyer's Avatar
 
Joined APC: Mar 2008
Position: The bottom 1%
Posts: 1,324
Default Qed

HSLD:

Isn't the solution obvious?

We need to convince NASA to buy (or merge) with United/Continental.

Any fences for the Shuttle, T-38s, or space station?
UAL T38 Phlyer is offline   Reply With Quote
Old 06-15-2011, 06:12 AM   #3 (permalink)
Gets Weekends Off
 
EWRflyr's Avatar
 
Joined APC: Jun 2008
Posts: 1,331
Default

If you ask me, at least NASA knows how to honor the terms of a contract. I think there are those outside of NASA who could learn a thing or two from them.

Quote:
United Space Alliance, however, has a rare pledge from a different government agency to pay the bill. The National Aeronautics and Space Administration says in its contract with the company that it will cover its pension costs “to the extent they are otherwise allowable, allocable and reasonable.” NASA interprets this to include the cost of terminating its pension plans outside of bankruptcy.
__________________
NO SCOPE = "NO" VOTE
EWRflyr is offline   Reply With Quote
Old 06-15-2011, 07:53 AM   #4 (permalink)
Gets Every Day Off
 
tomgoodman's Avatar
 
Joined APC: Feb 2006
Position: 767A (Ret)
Posts: 1,713
Default Foolish risk

Quote:
Federal agencies have been warned for more than a decade against promising to reimburse contractors’ pension and retiree health costs without adequately monitoring plans or how the money is invested.

NASA’s inspector general called contractor health and pension plans a high-risk area in 2000, and told the agency not to “blindly accept the risk.” NASA said it agreed, but was required to use Defense Department staff members to vet contractors’ retirement plans, and the Pentagon did not have enough specialists.
Like the government, ALPA failed to adequately monitor pension funds and require that they be invested in low-risk Treasury or AAA corporate bonds. But those instruments offer a lower yield, and would have required higher contributions from the companies to maintain full funding. It was easier to assume that the bull market would continue, underestimating the risk to retirees and taxpayers.
tomgoodman is offline   Reply With Quote
 
 
 

 
Reply
 



« Previous Thread | Next Thread »
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Good Read jungle Money Talk 1 04-21-2011 09:56 PM
Southwest may make a bid for Frontier StormChaser Major 378 08-10-2009 12:25 PM
Good and fast Flight Schools?? Ayu97 Flight Schools and Training 10 08-14-2007 08:34 PM
How to break up ToiletDuck Hangar Talk 10 01-15-2007 08:59 PM
Jack Lewis FedEx CP CALPilotToo Cargo 25 11-26-2006 10:15 AM


All times are GMT -8. The time now is 03:07 AM.


vBulletin® v3.8.6, Copyright ©2000-2012, Jelsoft Enterprises Ltd.
Search Engine Optimization by vBSEO 3.6.0
Copyright ©2000 - 2012 Internet Brands, Inc.