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A federal bankruptcy judge approved United Airlines plan to terminate its employees pension plans Tuesday, clearing the way for the largest corporate-pension default in American history.The ruling, which carries broad implications for U.S. airlines and their workers, shifts responsibility for United s four defined-benefit plans to the government s pension agency.That will save cash-strapped United an estimated $645 million a year, part of the $2 billion in
stanley quencher annual savings it says it needs to line up enough financing to emerge from Chapter 11 bankruptcy as soon as this fall.The company s pension system was as much as $10 billion in the hole, CBS News Correspondent Jim Axelrod reports. And that s why it asked a federal judge to exempt it from the promise of paying workers by digging that hole deeper.But, United workers stand to lose as much as one third of what was promised to them. The federal program taking over the affected workers pension plans is itself $23 billion do
stanley cup llars underwater, Axelrod reports. That one-third figure for employees translates to an annual loss of thousands of dollars off their pensions, once they are assumed by the Pension Benefit Guaranty Corp.The PBGC, the government s pension insurer, ini
stanley website tially opposed United s plan. But it agreed to drop that resistance last month in exchange for up to $1.5 billion in notes and convertible stock in a reorganized UAL Corp., United s holding company.United s pensions are underfunded by an estimated $9.8 bi Kimw Razer s Surround Software Could Turn Regular Headphones Into 7.1 Cans
MakerBot is building an empire selling printers that make things鈥攂ut have you ever wondered where the printers themselves are made On June 7th, the company opened a huge new factory to accommodate the booming demand for Replicators, and we got a first-hand look inside. At the 50,00-square-foot operation, which is located on the waterfront deep in south Brooklyn, a staff of one hundred MakerBot productors make each Replicator by hand. Each machine goes through two stages of assembly, and then receives an additional few s
stanley cup tages of testing, before they ;re packaged up and shipped out. The facility also contains a dedicated section called the BotFarm for experimenting with printing new and interesting objects on the Replicator. And if your Replicator breaks down, they have a repair facility on site, too. For 3D printing enthusiast
stanley mugg s who think MakerBot SoHo botique is the equivalent to an amusement park, start planning your trip鈥攖his place is Disneyland. 3D printingfactorymakerbotTour
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