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Old 12-04-2010 | 06:33 PM
  #54001  
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Carl Spackler
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Joined: Apr 2008
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From: 747-400 Captain
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Originally Posted by Check Essential
Some of it highly misleading.

It surprises me to see slowplay defend anything about the robber baron regime that ran Delta during that period.
The VP of Tech Ops is a "SERPent". He got one of the trust accounts.
Yes, the excess benefit (non-qualified) portion of management pensions was terminated in bankruptcy, AFTER the money (plussed up for taxes) was all paid out to the serp beneficiaries in the form of secular trusts.

And this:
"Nobody in management has an individual contract."

That might be the doozy of all misleading statements.
We had some NWA management pukes with very similar deals at the end. These guys are ALL short timers. All of them. Nothing worse than these poor performing short timers telling the pilots what they need to do to save the company.

Carl