Delta Air Lines files for reorganisation under Chapter 11 Bankruptcy Code

[Toad]

No, no, no. They didn't steal ALL the money. Just a teensy weensy little crumb to keep them and their families from starving.

In October 2001, Delta Air Lines executives, worried about a possible bankruptcy, quietly proposed a set of executive trusts that guaranteed them full pensions now worth an estimated $45 million.

Arguments like this resonated on Capitol Hill. Ten days after the terrorist attacks, Congress passed a $15 billion aid package for the airline industry: $5 billion in direct cash handouts and $10 billion more in government- backed loan guarantees.

The goliaths of the industry are getting most of the money: $644 million for United, $583 million for American, and $528 million for Delta.

[Bodhi]

Toad,

Check out the handout Mullins gave in February 02.

The total of the two were almost 174 million.   I was wrong though in the total cash amount I thought it was only 174million.

Either way, the fugger and his cronies should be shot.

[Captain Virgil Hilts]

Ya gotta love it. A guy runs a company into the ground, and gets paid more than any fifty regular employees will make in a lifetime, for doing it.

Corporate law needs to be rewritten to remove the protections they have for these common thieves. When bankruptcy is filed during their tenure, they should forfiet ALL salary and benefits. Everyone from mid level management on up should be subject to the change. Further, they should also force seizure off ALL of their assets to the point where they have $10K when they leave. Their assets should be sold and the proceeds should go towards the pension plans. Then the bastards would think twice before raping a company like they do.  Also, should they try to bail on the ship after they open the seanoodles, their assets, salary, and benefits should be seized and held until the company's problems are resolved. Attempts to circumvent the laws should be prosecuted, and punished by a mandatory sentence of 30 YEARS with NO PAROLE.