[southernnorthcarolina]

Northwest just filed for Chapter 11, also.

[Jeff Gordon]

Northwest just filed for Chapter 11, also.

Score another killed for the socialist unions.

[i.l.e.]

Filing for bankruptcy is the only way to save the company. Auto and Airlines are doomed due to unfunded retirement benefits that are in the billions of dollars. Too much overhead on the balance sheet means the company has a negative net worth, year after year etc.

Just wait until the pension guarantee funding is pushed through in the dark of night (lets say 2 am) by the house of representatives. The federally constituted Pension Benefit Guaranty Corp is in default due to massive payouts for prior airline and auto bankruptcies. Unless taxpayers wise up and change the laws, we will all be paying more taxes to provide the bloated retirement benefits demanded by the syndicated unions. We will all pay for the excessive reitrement benefits of the few.