Wed, Sep 01, 2004
Aero-News: Quote of the Day
Quote of the Day usually derives from current news, though we
reserve the right to pick quotes out of history that have a bearing
on the day's events and issues.
Sometimes, you'll find them timely and in keeping with the
content of the day's news... and sometimes, they'll just be
Reader suggestions and comments are welcome... and if
particularly intriguing, timely, or poignant, may themselves
become future Quotes of the Day.
Let us hear from you, folks!
Aero-News Quote of the Day
"We don't believe that a company that
has $2 billion in cash and over $5 billion in assets should be
terminating pension plans. We don't think the PBGC (Pension Benefit
Guaranty Corporation) was established to pay pensions for companies
with those kinds of assets."
Source: Machinists Vice President Robert Roach,
Jr. in an interview with the Rocky Mountain News about the
possibility that the Bush administration might intervene with
legislation that would stop United Airlines from dumping its four
major pension plans. United has threatened to kill the funds as
part of its attempt to emerge from bankruptcy protection.
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