Are Corporate Employer-Based Benefits under Threat?

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A US bankruptcy judge determined this week that United Airlines could not exit bankruptcy without quitting its heavy pension plans. The decision, if it stands, will mean 120,000 active and retired united employees will not receive the full benefits they have expected. This week's downgrading of General Motors and Ford Motor Company stock from investment-grade to junk status will influence pension funds and healthcare benefits for their employees. Should our welfare, healthcare and retirement security fall on government or private individuals- shoulders, and let corporations retreat from the burden of benefits so they can focus on salvaging the bottom line? Guest host Diana Nyad explores diminishing corporate support for the American family with economists, journalists and consumer advocates. Making News: Pentagon Releases List of Potential Base Closures Defense Secretary Donald Rumsfeld named today the 150 military bases around the country that will possibly be shut down in the near future. Those named, including Ellsworth Air Force Base in Rapid City, South Dakota, will begin the fight to retain their operational status. Patrick Lalley is Assistant Managing Editor of the Argus Leader of Sioux Falls. Reporter-s Notebook: Bolton Episode Highlights Voinovich Independence Yesterday, for only the third time in 22 years, the Senate Foreign Relations Committee sent a nomination to the Senate without a favorable recommendation. Ohio Senator George Voinovich broke from his Republican Party ranks, saying he could not endorse John Bolton as Ambassador of the United Nations. Jonathan Riskind is Washington Bureau Chief for Ohio's Columbus Dispatch.
Guest host Diana Nyad holds the world record for the longest swim without the aid of a cage -- from Bimini to Florida, 102.5 miles! She was inducted into the International Swimming Hall of Fame in 2002. Nyad is a business sports columnist for Marketplace, has served as senior sports correspondent for Fox News, and has hosted her own show on CNBC. She's also the author of three books, Other Shores, Basic Training and The Keyshawn Johnson Story.

Base Realignment and Closure (BRAC) 2005

Argus Leader article on closure of Ellsworth AF Base

Argus Leader article on implications of base closure for Senator Thune

Employment Retirement and Security act (ERISA)

Pension Benefit Guarantee Corporation (PBGC)

PBGC reaches pension settlement with United Airlines

Standard and Poor's on General Motors, Ford Motor Company

Senator Voinovich

NY Times article on Bolton nomination going to Senate without endorsement

TtP segment on Senate Committee debate over Bolton nomination

Credits

Host:

Warren Olney