I think the problem was the pension invested in United's Stock
They put all their eggs in one basket when the "employee's purchased" their company.
They purchased it. They mismanaged it. Their now finding out how much it really cost them, because their paying for it again in the form of a reduced pension.
Capitalism works both for and against sometimes.
But in any case, they aren't going to starve in retirement...They just won't be able to have their cake nad eat it to.