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PBGC chief lauded for aggressive stance on airlines

PBGC director Josh Gotbaum's tough talk with flailing American Airlines may have prompted the company to reconsider ducking and running on its pensions.

By Andy Stonehouse | Updated on April 25, 2012

Amid the chaos and conflict of American Airlines’ bankruptcy negotations, an unlikely hero has emerged – one who’s ended up effectively holding the airline to its obligations, rather than dumping them on taxpayers.

A recent Wall Street Journal article shines the spotlight on Pension Benefit Guarantee Corporation director Josh Gotbaum and his efforts to keep his somewhat obscure (at least to the outside world) agency from shouldering the burden as American attempted to dump its pension plans as a cost-saving move.

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