So You Think You're a Frequent Flier?

[vern]

You're not!

[The Ginger Beard Man]

"We thought originally it would be something that firms would buy for top employees," said Bob Crandall, American's chairman and chief executive from 1985 to 1998. "It soon became apparent that the public was smarter than we were."
What a shock.

[Sassenach]

In one 25-day span this year, Joyce flew round trip to London 16 times, flights that would retail for more than $125,000. He didn't pay a dime.

Damn. That's a lot of jet lag.

[Protobuilder]

1. Need cash
2. Get cash though promotion
3. Realize that promotion is actually causing company to lose money
4. Raise prices
5. Repeat 2-4 three more times
6. Blame customer

Yep, sounds like a nice strategy.

They are not nearly as smart as these guys in keeping costs down:

http://www.foxnews.com/us/2012/05/03/sp ... itorsPicks

The boss of Spirit Airlines isn't about to cave in to a dying former Marine, and he doesn't lose sleep knowing his company leads the industry when it comes to customer complaints, he told FoxNews.com.

“That’s an irrelevant statistic,” Spirit CEO Ben Baldanza said when told his airline generates gripes at two-and-a-half times the rate of the next most complained about carrier.

[Shapecharge]

I know a guy who has this pass with a companion ticket...a hotel guy. He said he knew he'd be flying a lot for business and that's why he bought it. He also said Crandall called him and asked to buy the tickets back and he refused. Next time I see him I'll have to ask about it.

[Turdacious]

American Airlines filed for bankruptcy in November. The company needs $18.5 billion to cover its pension promises to current and former employees, but it has only set aside $8.3 billion.

Taxpayers could wind up on the hook for billions. Here's why.

American Airlines is asking the bankruptcy court for permission to drop its pension plans. If the court allows that, the plans will be taken over by the Pension Benefit Guaranty Corp, a government agency that takes over pension plans for failed companies.

The PBGC works like an insurance company. Firms that are backed by the PBGC pay premiums to the agency. Those premiums are supposed to pay for the agency's costs, so taxpayers don't have to pay. But in recent years the premiums haven't been enough — the agency's funding shortfall is currently $26 billion.

President Obama has proposed raising the premiums companies pay to PBGC, to make up the shortfall. But big business groups oppose any increase.

The PBGC, for its part, is pushing back against American's request. Here's a statement from PBGC Director Josh Gotbaum:

"Before American takes such a drastic action as killing the pension plans of 130,000 employees and retirees, it needs to show there is no better alternative. Thus far, they have failed to provide even the most basic information to decide that."

http://www.npr.org/blogs/money/2012/02/ ... s-pensions

Apparently the PBGC is smarter than they are too.

[TerryB]

why doesn't China buy our unfunded pensions liabilities? Then they could own our retirees too. That'd be kind of a unique strategic position.

[Fat Cat]

retirees are just lazy

[Turdacious]

why doesn't China buy our unfunded pensions liabilities? Then they could own our retirees too. That'd be kind of a unique strategic position.

Even Michael Savage doesn't hate public workers that much.