Sunday, May 15, 2005 :::
Been a while, I guess.- United Airlines has defaulted on its pensions, about half of that debt to be borne by the current and past employees, and about half by the pension guarantee board. I've been arguing for the liquidation of United for three years now, and I generally think pension obligations should be senior to unsecured debt, particularly corporate bonds; everyone is talking about this as a pensions issue, when this is more fundamentally a corporate bankruptcy issue. Appropriate federal response would be a reform of corporate bankruptcy laws, potentially with a section specifically sowing salt into the earth of United Airlines, just because, you know, I've gone white whale on them. United delenda est.
- I'm often inclined, in cases of the murders of little girls, to propose that the perpetrator be sentenced to being placed in the general prison population, with whatever happens allowed to happen. It probably violates the eight amendment, can arguably be held to be immoral, and is probably bad public policy for a couple reasons, but, man, it would feel good.
- The City of Chicago has misplaced thousands of tons of asphalt. If you find them, please let mayor Daley know.
::: posted by dWj at 2:07 PM
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