Thousands of Alabama teachers are uneasy after hearing of U. S. Airways recent bankruptcy reorganization plan. So what`s the connection? Evidently millions of dollars of state retirement investments are wrapped up the the airlines weakening economy. Dothan City School Superintendent, Dr. Leon Hobbs says he is confident that teachers in the state of Alabama have nothing to worry about when it comes to the future of their retirement. Even with U. S. Airways making public their need for a billion dollar federal loan guarantee, 240 million dollar investment system and pay givebacks from its employees. Mr. Hobbs believes at this point in time, the pensions are safe. He said there are two major forces working for them. Number one, Dr. Hubbert for the A.E.A., and Dr. Bronner also, in his mind, an investment genious. Hobbs also says he`s sure that if there is an investment problem, key financial officials for the state already have a backdoor solution. He said he has faith in the pension program for the state employees and that they will be safe guarded. Dothan High teacher, Richard Ivey agrees. He said he too, was not concerned about the investments with the airlines. But will trust be enough to save teachers from the possibility of a failing pension fund...a question posed to Dr. Hobbs. Dr. Hobbs reponded with, "I would never say there are absolutely no fears...I`m just saying that in my history in the state of Alabama, both these men are pretty sure investors. With world affairs, you have to be concerned with the oil crisis and things like that, but you just have to ride it out." U. S. Airways became the first airline to declare bankruptcy following the September 11th attacks. A disclosure statement that was filed, estimates the company`s new common stock and other securities will be worth between 425-million and 645-million dollars.
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