Pension Dumping: The Reasons, the Wreckage, the Stakes for Wall Street
Fran Hawthorne, author of Pension Dumping, is a recipient of the New York State Society of Certified Public Accountants award for Excellence in Financial Journalism for 2009—the first year books have been honored.\ \ Pension plans in America no longer represent commitments that financially troubled companies will honor. Neither bankruptcy courts, nor Washington, nor unions have the clout to make them do so. The disposition of these plans is instead left to serve the needs of big investors....
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A penetrating look at the practice of ending pension plans: who stands to win or lose, and how that happens
Acknowledgments xiIntroduction xiiiThe ReasonsThe Dispensable Pension Plan 3Last in Line: The Retiree 13Pension-Free and Ready to Compete-Or Not? 23The LawsWriting the Rules 37Failure's Fallout: LTV and Other Precedents 51The Bankruptcy Court Minuet 61The InvestorsHow Investors Play the Game 85The Signs of Failure 101Pensionless Restructuring 125The Emergence of US Airways 149The Reemergence of US Airways 157The FutureThe Problem Continues 171The Next to Fail 183The Politics 195Notes 211Index 225
