Online Retirement Planning Consultancy Urges Taxpayers to Demand that United Airlines Fulfill its Pension Obligations
Following United Airlines' petition to have the U.S. government take over its pension obligations, Retirement-4-U, a retirement planning consultancy, is calling upon American taxpayers to voice their opposition to this move. "We at Retirement-4-U urge the American public to write to the U.S. Bankruptcy Court and their legislators, strongly expressing their opposition to United's bailout," says Stephen B. Carkeek, Founder of Retirement-4-U (http://www.retirement-4-u.com).
"The American taxpayer should not have to foot the bill for United's incompetence and mismanagement." United Airlines has petitioned the U.S. Bankruptcy Court to stop making its pension payments as of June 30, 2005, and wants the U.S. government to fulfill those pension obligations. Already the Pension Benefit Guaranty Corporation (PGBC) has announced its settlement with United to become trustee of the company's four pension plans. This is awaiting approval by the Bankruptcy Court, and a ruling is expected from the Court in the Northern District of Illinois on May 4.
The bailout, points out Carkeek, will set a dangerous precedent, because other airlines in financial difficulties will expect similar treatment, further burdening the American taxpayer. And it's not just the taxpayer who suffers; United's own workforce will too. Even as it is unable to fulfill its present obligations, United is promising its current employees even greater pension benefits. According to the terms of the bailout and the PGBC's partial guaranty, United's host of pensioners will not be receiving their benefits in entirety."United should not be allowed to run away from its obligations," says Carkeek. Even if United goes bankrupt, its asset sales should fund the pension payments, and it should not be allowed to promise greater benefits to its current employees.
"For long, United has claimed that it has been flying the friendly skies, but these moves on its part make it a very unfriendly airline indeed," says Carkeek. "By being pro-active and speaking out, we can ensure that United Airlines does not push the burden of its own obligations onto the hardworking, taxpaying American."About Retirement-4-U:Retirement-4-U is a consultancy for successful retirement, providing accurate, unbiased retirement plans for a simple one-time fee. Since 2001, Retirement-4-U has been putting its 80 years worth of combined experience and its proprietary retirement planning software to the service of thousands of clients across the United States, ensuring that their post-retirement days are comfortable and secure. For more information, please visit http://www.retirement-4-u.com/.Contact:Stephen B. Carkeek601 Van Ness Ave., Suite E3-513 San Francisco, CA 94102925-922-0122.
Toni Braxton: My Bankruptcy Case Changed the Business -- Sexy Chanteuse Opens up About Financial Woes Ahead of Vegas Headline Comeback
Las Vegas (ContentDesk) August 3, 2006 -- Pop star Toni Braxton, long tight-lipped about her embarrassing bankruptcy in 1998, told The Strip podcast this week she earned just $2,000 in royalties on her multi-platinum sophomore album Secrets, a pittance that forced major changes in how recording artists contracts are structured now.Braxton, aiming for a return to the limelight after two lackluster albums, opens a six-month Vegas headliner gig at the Flamingo Hotel-Casino on Aug. 3."My situation wasnt about having an artist spending all her money, my situation was about an artist who made 32 cents a record and had to pay back all the money the record company invested and pay back studio time and had to pay back the promotion and everything, Braxton told the weekly celebrity interview show The Strip, which is found at www.thestrippodcast.com. So when I got my royalty checks for my second album, it was less than $2,000....
Toni Braxton: My Bankruptcy Case Changed the Business -- Sexy Chanteuse Opens up About Financial Woes Ahead of Vegas Headline Comeback
Bankruptcy > Toni Braxton: My Bankruptcy Case Changed the Business -- Sexy Chanteuse Opens up About Financial Woes Ahead of Vegas Headline Comeback
Toni Braxton: My Bankruptcy Case Changed the Business -- Sexy Chanteuse Opens up About Financial Woes Ahead of Vegas Headline Comeback
Las Vegas (ContentDesk) August 3, 2006 -- Pop star Toni Braxton, long tight-lipped about her embarrassing bankruptcy in 1998, told The Strip podcast this week she earned just $2,000 in royalties on her multi-platinum sophomore album Secrets, a pittance that forced major changes in how recording artists contracts are structured now.Braxton, aiming for a return to the limelight after two lackluster albums, opens a six-month Vegas headliner gig at the Flamingo Hotel-Casino on Aug. 3."My situation wasnt about having an artist spending all her money, my situation was about an artist who made 32 cents a record and had to pay back all the money the record company invested and pay back studio time and had to pay back the promotion and everything, Braxton told the weekly celebrity interview show The Strip, which is found at www.thestrippodcast.com. So when I got my royalty checks for my second album, it was less than $2,000....
Toni Braxton: My Bankruptcy Case Changed the Business -- Sexy Chanteuse Opens up About Financial Woes Ahead of Vegas Headline Comeback
Bankruptcy > Toni Braxton: My Bankruptcy Case Changed the Business -- Sexy Chanteuse Opens up About Financial Woes Ahead of Vegas Headline Comeback