8/15/06
The
more I study this situation the more I learn.
What
is becoming more apparent to me is that ERISA law (1974) and Bankruptcy code
(1978) were written for the corporations of America,
not the working class. In most countries around the World when a
company goes into bankruptcy the workers and pensioners are protected first.
The banks are paid with what is left over from paying the workers and
retirees; the philosophy is the banks can charge their costs off to their
customers, the retirees and workers can not replace what was taken from them.
The opposite occurs in America and it is all spelled out in Bankruptcy law.
The
Pension
Preservation Network
officially launched their new web site yesterday, Monday, August 14.
There are many articles posted on this site that explain this in detail and
there is a Forum where ideas and opinions can be exchanged. These
articles also explain how bankruptcy law pits current workers and retirees
against each other to preserve their respective piece of the pie, this happens
in every bankruptcy.
The
PPN web site address is: www.protectpensions.org
Congressman
Miller is supporting the efforts of the Pension Preservation Network and has
posted a link to PPN’s web site on his official Committee web site:
One
phrase of Joe Stans’ email really stood out to me:
Delta
and Northwest were allowed to extend their funding window for their pensions
for 20 years. Has
no one asked the question:
“Why couldn’t United?”
The
answer to that question is, the Pension Preservation Network has been asking
that question since August 2004, and demanding that Congress correct the
pension crisis before it spreads to Delta, Northwest, Continental and
American.
The
Republican majority chose to support their corporate donors over their
constituents in EVERY vote cast in two years. Now we have an opportunity
for “pay back time.” Every Congressman and 1/3 of the Senators are
up for re-election on November 7. It is time for us to reward those who
attempted to help us (all Democrats and approximately only 30 Republicans
nationwide) and punish those who turned their backs on us.
I
personally met with Congressman George Miller on August 3. Congressman
Miller understands the plight of the United Airlines pilot better than any
person whom I have ever spoken, he knows why, how we got where we are, he
understands the greed of Glynn Tilton and how bankruptcy and ERISA law worked
for the corporations instead of the workers and retirees. PPN is working
with Congressman Miller and other pension experts to craft legislation that
would RESTORE the pension plans of ALL
airline workers all the way back to Braniff.
Congressman
Miller is in the Democrat Party that is now in the Minority position, he is
currently powerless to help us. If we can see that Congressman Miller
becomes the CHAIRMAN of the House Education and the Workforce Committee by
putting his Party in the Majority, he can then begin his work to place these
plans into effect.
Please
continue to stay informed, use the PPN website as one of your sources, and
please standby to take part in PPN campaigns in the future. PPN is
dedicated to preserving YOUR pension.
Please
do not say, “Has
no one asked the question……..”
Jim