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Keyword: accountingscandal

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  • Failing Pensions Exact a Human Toll (I Say Take It Out of CEO Pay & Parachute Packages)

    06/12/2005 9:18:53 PM PDT · by drt1 · 11 replies · 513+ views
    Washington Post ^ | 06/12/2005 | Dale Russakoff
    United retirees lament broken promises, shattered dreams. Ellen Saracini lost her husband, United Airlines Capt. Victor J. Saracini, when his Flight 175 crashed into the World Trade Center on Sept. 11, 2001. Now she stands to lose more than half of her widow's pension in a very different kind of crash — United's default of its $9 billion pension obligations. The scale of the default, the largest in U.S. history, has until now received more attention than the toll on the lives of the bankrupt airline's 120,000 employees and pensioners. Saracini discussed its impact on her and her two daughters...