American Airlines is planning to dump it pension liabilities on the public. Joshua Gotbaum, head of the Pension Benefit Guaranty Corporation, with already a 23 billion dollar deficit, stated in a New York Times article by Mary Williams Walsh and Jad Mouawad, that he was "hoping to get in front of this." The past track record of the agency is so bad that we can only expect it will roll over and accept whatever deal for American Airlines to rid it self of the 130,000 pensions. The dumping of pensions in bankruptcy, on the taxpayer, has been one way that people like Mitt Romney and other corporate raiders have made huge profits.
Fran Hawthorne's book, Dumping Pensions (http://www.pensiondumping.com/) is a comprehensive analysis of how corporations have eliminated pension liabilities. American Airlines should not be allowed to do this. Corporations have complained about regulations, pensions and taxes but their profits have never been higher (http://www.huffingtonpost.com/...). Are Americans listening?