Navy Notes

Today marks the 71st anniversary of the sneak attack by naval and air forces of the Japanese military on the United States military base located at Pearl Harbor, Hawaii.

While it is True, the Line 

"They Do Make High Quality Automobiles" Was Cut From the Speech

This seems like as good a time as any to discuss the Navy.

Two Dollar Bill Y'all (Yes, it's a Play on the Title of Limp Bizkit's First Album)


My Dad was in the Navy for twenty years.  One of the better military lore stories he shared with me is as follows:

In 19xx the mayor of xx became upset with the United States Navy, which was in the habit of docking the Enterprise aircraft carrier at their port.  According to xxx, the sailors caused enough problems in the city that the mayor requested that the commanding officer of the carrier do something to stop the sailors from causing problems or he would have to see about preventing the carrier from making port in his city.  Xxx thought about the situation and radioed the Pentagon to make a special request. The next payday all of the sailors on board the xxx were issued their pay in $2 bills.  When these sailors were allowed off the ship, they papered the city with Thomas Jefferson’s image.

Seeing the obviously massive economic impact of the Navy on the city, the Mayor backs down  and agrees that the Navy can continue to make port in his city.

Unfortunately, based on my internet searches, this is nothing more than a tall tale.  


The Military Portrayed in Television

One of the best lines in televised drama produced this century came to us from the first season of Lost.  Two strangers are finding more about each other when one mentioned that he fought in Iraq.  The other character says that his buddy was part of the 101st Airborne or something similar and asks what unit the first guy served in.  The bearded man responds by saying that he served in the Republican Guard.

The hairs on my arms stood on end when I heard this. 

Losing Your Retirement in 2012

The latest new thing for major American corporations to do is declare bankruptcy.  All the cool companies are doing it!  Here's how:

• Company X is the brand that everyone in America and a large number of people around the world know and do business with

 

We Worship You With Our Money

• Company X is actually owned by Company Y.

Your Teachers Told You This Math Stuff Would Be Testable

• Virtually no one has heard of Company Y yet their holdings include the internationally known Company X.
• Company X employes a lot of people and has employed many more over the years to whom it either owes pensions to in the future or is currently paying pensions to right now.  
• Company Y doesn't like paying pensions so it declares bankruptcy.
• Bankruptcy proceedings allow Company Y to restructure (read reduce) pension payments to their current and former employees.
• Company X continues to do business during the restructing of Company Y as if nothing is happening.

 Financial Worship Continues Uninterrupted

• Company Y negotiates lower payments for their all their creditors, which they justify by saying that actually having to meet their obligations makes them unable to compete in the marketplace, the business model isn't sustainable (despite the fact that Company X continues to operate), etc.

Who is Company X?

• In late 2011, American Airlines was Company X
• In January of 2012, Hostess became Company X.  You can read more details here.
• I'm probably missing several other major companies that are doing the same thing.

If you're a member of the middle class in America, this should enrage you.  I say that companies shouldn't be allowed to avoid paying what they have promised to pay.

TL;DR: Large corporations have found a new way to screw the little guy.

Update, February 1, 2012: According to this article published today in the New York Times, "American Airlines said Wednesday [today] that it wanted to cut 13,000 jobs and terminate its workers’ pension plans as it seeks to cut its employee costs by 20 percent while operating in bankruptcy court. " 


On April 23, 2012 the New York Times published an update noting that the parent company of American Airlines went to court in an attempt to void its contracts with three labor unions.  Here is the article.