Originally Posted by krudawg

911 was responsible for a very heavy drop-off in flying customers. It is the paying customer who pays our wages and paid for our pension. When they stopped coming, the money airlines used to pay our wages dried up. It wasn't George Bush or any of his "misguided" policies, it was simply airlines going in survivor mode and peeling back their overhead. The PBGC aggravated our situation because they demanded the company "hand over" our pensions and after some foot dragging, they got all our pension money. Federal law (Bankruptcy) allowed our "underfunded" pension to be "unloaded" by the airlines. It was tragic what happen to us and a double-wammy, when you consider our ESOP stock loss.