Capitalism for the 1%, Socialism for the 99%

AA is just one more example of a company that took care of its execs, but is shifting the burden of pensions to the government.

US says American Airlines underpaid on pensions - CBS News: "American Airlines contributed only $6.5 million of the $100 million that it was supposed to pay into employee pension plans this week.

The underpayment raised tensions between the company, which filed for bankruptcy protection in November, and federal pension-protection officials.

"This is a disturbing development, as the airline has more than $4 billion in cash," said J. Jioni Palmer, a spokesman for the Pension Benefit Guaranty Corp., which insures certain types of retirement plans. "American's actions hurt the financial health of the pension plans, and undermine the retirement security of American's workers and retirees."

American Airlines spokesman Sean Collins said, "The company has determined this is the appropriate course of action for the quarterly contribution amount due by Jan. 15, 2012. This action allows the company to preserve cash.""

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