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NWA to probably file for Chapter 11 bankruptcy protection

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CatholicEdHead Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-13-05 08:31 PM
Original message
NWA to probably file for Chapter 11 bankruptcy protection
All signs are pointing to Northwest Airlines to file for bankruptcy protection. They are refusing to pay Mesaba and other $42M in payments that are due. They also will miss a $65M payment to the employee pension fund.

http://www.startribune.com/stories/1778/5612565.html

Sadly I think this is a first step to do what United was able to do and dump the pensions besides trying to crush every union. The "latest thing" in CEO circles has to be dumping pension funds for the greater bottom line.
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Deja Q Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-13-05 08:32 PM
Response to Original message
1. Why can't the CEOs also dump their pensions?
It's THEIR company.

They like giving themselves goldern parachutes... and giving us the golden showers...
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RaleighNCDUer Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-13-05 08:44 PM
Response to Reply #1
3. That's trickle down economics for you. nt
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katinmn Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-13-05 08:33 PM
Response to Original message
2. Yup. Also, I read today that Delta filed for bankruptcy protection
Cited jet fuel costs...
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CatholicEdHead Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-14-05 05:42 PM
Response to Original message
4. Well, now it is really official
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