Business Services Industry
Northwest Lobbies to Fund Employee Pension Plan through Subsidiary's Stock.
Knight Ridder/Tribune Business News, May, 2003
By Martin J. Moylan, Saint Paul Pioneer Press, Minn. Knight Ridder/Tribune Business News
May 6--Northwest Airlines could conserve more than $330 million in cash this year and next -- and be more likely to avoid bankruptcy -- if it's allowed to fund employee pension plans with stock in its Pinnacle Airlines subsidiary.
That's what Northwest president Doug Steenland told federal regulators at a hearing in Washington, D.C., Monday.
Eagan-based Northwest is seeking the Department of Labor's permission to use the stock instead of cash to make contributions to the pension plans. Struggling Northwest has lost $1.6 billion and cut 17,000 employees since the start of 2001.
Some of its major unions are worried that Pinnacle stock would...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
Presented by the Premiere Rewards Gold Card from American Express