PPRuNe Forums - View Single Post - NATS Pensions (Split from Pay 2009 thread)
Old 6th November 2008 | 18:15
  #1025 (permalink)  
Vote NO
 
Joined: Nov 2008
Posts: 295
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From: UK
Any administrator charged with sorting out a bust company is going to target the thing that caused it to fail - in the NATS case the pension scheme that was too expensive that the company went bust
You are correct in the first part. Well done

Incorrect in the second part though

The "thing" in question that caused it to fail was financial incompetence by the incumbent NATS management. I am sure they would be the first to go. Failure to predict this situation shows a complete lack of business sense. Failed projects and the reputed £120,000,000 lost in the Spanish fiasco
(The new company, to be called SACTA ATM, will develop the Spanish ATC system SACTA to a point where it is also capable of managing UK airspace – some of the most complex in the world. Skycontrol.net: SACTA ATM, world first in air traffic co-operation: Britain and Spain today launch a new Joint Venture Company)
give ample enough evidence to hang them. Ask them how much money they have lost and wasted in the last few years, insist on the figures, and I would think even the most ardent yes voter would have second thoughts.
I am not trying to be smart here, just asking people to open their eyes and look at the real reason we have ended up here today. If you are happy to see all this money wasted, fine, although I would seriously question your judgement. If not, take a stand and fight for your pension.

Last edited by Vote NO; 6th November 2008 at 19:25.
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