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Join Us At 0900ET, Friday, 4/10, for the LIVE Morning Brief.
Watch It LIVE at www.airborne-live.net

Sat, Apr 01, 2006

ANN Cancels Pension Plan

Massive Liability Threatens Solvency of PBGC

04.01.06 'Special' Edition: In a prepared statement issued last night after the financial markets closed, Aero-News Editor in Chief Jim Campbell announced that the high-flying aviation news service would default on future pension liabilities. The quasi-governmental Pension Benefits Guaranty Corp. will take over the unfunded portion, leaving taxpayers potentially on the hook for millions of missing dollars -- or dozens, at least.

"It doesn't sound like much, but if the airlines got away with it, why shouldn't they?" said PBGC spokesman P. Ledger Nightshade.

"But have you ever heard of the straw that broke the camel's back? Sure, it's no United Air Lines, but every bit adds up."

Mr. Campbell, and his all-female entourage, were traveling in Tahiti and were not available for comment.

FMI: www.aero-news.net

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