Island Air out of business and employees are upset

[Guest]

What went wrong for Island air?

The amount of tourism to the state has been growing year after year so why would a company like Island air not see those benefits?

How would Island air not think about the employees 401k plans and needs prior to going out of business?

What other airline carriers still offer inter-island service for the more than 9 million tourist visiting a year?

http://www.hawaiinewsnow.com/story/37021...heir-401ks

[tada]

Just booked a inter island flight on HA. Charge was over $200.

Who has first claim on your 401k in a bankruptcy?

[macuu222]

Island Air’s owners(Jeffrey Au and billionaire Larry Ellison).They made themselves secured creditors with an interest in substantially all of the assets ahead of other creditors (including former employees).

[HereOnThePrimalEdge]

billionaire Larry Ellison... secured creditors with an interest... ahead of other creditors (including former employees).

Merry Christmas billionaires!
Look what's under the tree this year.
Your former employee's retirement fund, AND a gigantic federal tax break for the wealthy!
Ho, ho, ho is right!

"Enlightened statesmen will not always be at the helm." -James Madison, The Federalist Papers, 1787

[Chunkster]

Sometimes the corporate bankruptcy laws enable criminal behavior. Witness Island Air and some of Trump's dealings.