WASHINGTON, D.C. - U.S. Representative Jan Schakowsky today joined Congressman George Miller and United Airlines employees in speaking out against the United Airlines bankruptcy bail-out.

Below is Schakowsky's statement:

“Thank you Congressman George Miller for your leadership on this issue and every issue important to our working families.  As you often say, ‘What’s good for the captain is good for the sailor’. “

“I also want to thank the airline employees who have joined us here today. You represent so many other workers in your industry, at United, and other airlines, whose retirement future is in jeopardy.  And you are the first line of defense in what could be an avalanche of corporations using bankruptcy court to shield themselves from responsibility for their employee’s retirement security.”   

“Congressman Miller’s bill, the Pension Fairness and Full Disclosure Act, of which I am proud to be an original cosponsor,  is a needed tool to force corporate executives to take a real, personal interest in their employee pension plans.”

“Under this bill, if workers’ pension plans are under-funded, then no payments can be made to the executives’ plans.  If companies want the bankruptcy court to erase their debt to rank-and-file pension plans, the company must first reveal what’s in the executives’ plans.” 

“We need to pass this legislation to stave off the potential avalanche of corporations – including other airlines – dumping their retirement plans on the Pension Benefit Guarantee Corporation, the PBGC.” 

“The workers at United –including over 10,000 flights attendants and machinists in Illinois, have already given up $3 billion in concessions, including health benefits and forced pay cuts,  to help the airline and now the airline is asking for more. “

“Enough is enough. But apparently not for United.  It looks like the skies the limit when it comes to the sacrifices United demands of its employees.  Today the airline is trying to dump $10 billion in employee pension obligations on the Pension Benefit Guarantee Corporation.  And we are here to say NO.” 

“If the bankruptcy court approves this agreement –against which we filed an Amicus brief in Chicago yesterday– United employees will see $3.2 billion of their retirement security disappear.

The Amicus brief we filed yesterday urges the bankruptcy court to determine whether this deal for United is just a back door attempt to abandon its collective bargaining obligations.”

“The brief also asks the court to determine whether a PBGC takeover of all of United’s pension plans is truly necessary for the airline to emerge from bankruptcy.” 

“Or whether United is simply looking for a legal “get out of debt – and collective bargaining – free” card.” 

“Let’s not forget, while United was pushing more cuts on workers last year, management was asking for a raise.” 

“And while the executives claimed they would spread the cuts evenly among everyone at United, they planned to give themselves a 26% raise before conceding to a 10% cut.  In other words, their "concession" was actually a 16% raise.”

“And, while employees are expecting a one third cut in pension benefits, Glen Tilton won’t lose a dime of his $4.5 million retirement fund, because he made sure it was protected.” 

“United is setting a bad example.  And if this deal goes thru, taxpayers had better buckle up because we will be in for a bumpy ride of bailout after bailout, as more and more corporations dump their pension plan obligations on the PBGC.” 

“Congressman Millers’ bill would help us prevent just that.  By leveling the playing field between executive compensation and employees.”

 “I hope the bankruptcy court in Chicago and our colleagues here in Washington agree with us. If we want to keep the future bright and the skies friendly for United, it has got to start with better treatment of employees.”