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The short explanation of this alert was:
UAL’s slight of hand during bankruptcy proceedings enriched top executives at the expense of workers’ pensions.
While UAL was saddling the Pension Benefit Guaranty Corporation (PBGC) and taxpayers with 6.6 billion dollars in debt, they were possibly understating the value of Mileage Plus assets by billions.
UAL employees, the PBGC and the American taxpayers have a right to know if the largest corporate pension default in U.S. history was orchestrated using misleading information or could have been avoided entirely.
Join the Teamsters Aviation Mechanics Coalition, along with thousands of affected UAL employees, in demanding an immediate investigation into the actions taken by the PBGC during the negotiations with United Airlines that resulted in an agreement to shift United's pension obligations to the PBGC without restoration rights.
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