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Resource ID: #14969
Subject: Aviation
Source: Miami Daily Business Review
Affiliation: 
Date: 11/13/98

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Description

The Miami Daily Business Review article claims the bankrupt carrier Eastern Airlines, which stopped flying in 1991, is acting like an investment banker, sinking millions into high-risk start-ups while insdiders benefit. For example, one of the investments, Pan Am World Airways failed. Some creditors who settled claims on the "cheap" are crying foul. In other words, instead of money going to pension plans, employment and profit opportunities are only happening for well-connected former Eastern executives.

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