The Book "Retirement Heist" was right, American Airlines Bankruptcy was OPTIONAL
The Book "Retirement Heist" was right, American Airlines Bankruptcy was OPTIONAL
Combined with the way they treat their employees, the main driver for bankruptcy was to keep profits earned on the almost fully funded retirement and to keep pilots from retiring since they are still working for 1992 wages AND THERE IS A SHORTAGE OF PILOTS ALREADY OCCURRING. Chinese Airlines are paying TWICE what American Airlines is paying. THAT IS WHY THE CEO OF AMERICAN AIRLINES FILED FOR A "BANKRUPTCY OF CONVENIENCE".
(I would love to see Alan Grayson or Elizabeth Warren sponsor legislation to stop this practice).
All companies are watching what AMR is doing because they are coming for you next. That is why I encourage all my pilot friends to keep voting no and get ready to strike..
Mr Hoglander of the National Mediation Board told the Allied Pilots Association that no major airline group would be released to self help....period. (I'd love to see the President can this guy and put someone in that will release them).
http://aviationblog.dallasnews.com/2012/11/american-airlines-too-many-pilots-will-retire-if-they-can-take-their-pensions-as-a-lump-sum.html/
