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Cake day: January 3rd, 2024

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  • Bankruptcy Judge Craig T. Goldblatt sided with pension funds over how to calculate the penalty Yellow must pay for canceling workers’ retirement plans when the company shut down last year. The ruling, issued last week, means there is little chance the company will have any cash left for shareholders like hedge fund MFN Partners after Yellow finishes selling its real estate portfolio and paying the pension penalty.

    Fuck yeah. A contract is a contract. A pension is a particularly important one, in the “preventing brick to the head of shareholder” category.

    Shareholders need to wise up about pension obligations, or move their money back into index funds.












  • This is particularly interesting, since modern organizational theory tells us that Boeing’s primary customers would be much better off with a shift in power toward Boeing’s workers, away from it’s current leadership.

    Purchasers of huge airplanes cannot afford to purchase airplanes built under leadership that cuts corners the way Boeing’s leadership lately has.

    The striking workers may have an unusual ally here - in Boeing’s customer base, which notably includes the US Government and parts of it’s Armed Forces.