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☆ China’s Angry Pensioners Are Symptomatic of Deeper Problems
▼ + stars: | 2023-02-17 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

China doesn’t have a robust social safety net—individuals pay a relatively high proportion of medical fees out of pocket. Recent protests by retirees in China over reduced healthcare benefits epitomize a thicket of interrelated problems entangling the country: an aging population, strained local government finances, an inadequate social safety net and heavy debt. The immediate trigger for the flare-up was revisions pushed through by some local governments, including the city of Wuhan, which will cut reimbursements for medical care. Some money from individual accounts contributed under a compulsory savings plan will be pooled with a public insurance fund. The move would use some of the surplus in these so-called personal accounts to meet increasing public medical needs—but elderly protesters feel like the government has taken away their savings.

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WASHINGTON, Feb 9 (Reuters) - Southwest Airlines (LUV.N) on Thursday faced harsh criticism from U.S. senators at a hearing investigating the airline's meltdown that disrupted travel plans for 2 million customers, with one lawmaker calling the situation an "unmitigated disaster." While Southwest cited weather impacts, the union singled out poor preparation and a failure to modernize technology. Democratic Senator Jacky Rosen called it an "unmitigated disaster" that had a "devastating impact on families." Watterson said it has received about 284,000 cases from passengers impacted by meltdown and reimbursed more than 273,000 -- leaving 10,782. Cantwell said Southwest Chief Executive Officer Bob Jordan, who had been invited to the hearing, "didn't want to show up."

WASHINGTON, Feb 9 (Reuters) - Southwest Airlines (LUV.N) faced harsh criticism from U.S. senators at a hearing on Thursday investigating the airline's meltdown that disrupted travel plans for 2 million customers. The airline and its pilot union offered sharply contrasting reasons for the low-cost carrier's massive travel disruptions. While Southwest cited weather impacts, the union singled out poor preparation and a failure to modernize technology. Cantwell said Southwest Chief Executive Officer Bob Jordan, who had been invited to the hearing, "didn't want to show up." The meltdown caused the cancellation of almost 17,000 flights and is estimated to have cost the airline more than $1 billion.

☆ Southwest explains its meltdown to Congress
▼ + stars: | 2023-02-09 | by ( Gregory Wallace | ) edition.cnn.com time to read: +4 min

Washington CNN —Congress is set to receive new evidence Thursday of internal chaos at Southwest Airlines over the Christmas holiday meltdown. The Senate Commerce committee is set to question Southwest executive Andrew Watterson, alongside Southwest pilot union president Casey Murray, Sharon Pinkerton of the Airlines for America trade group, Paul Hudson of Flyers’ Rights, and economist Clifford Winston of The Brookings Institution. It’s a mess down here.”A photograph of the message, which shows the extent of the airline’s breakdown, is included in testimony the Southwest Airlines Pilots Association union, SWAPA, plans to present at the hearing. Southwest CEO Bob Jordan apologized and the airline offered reimbursements for passengers’ costs, along with bonus points. The union criticized the airline for giving executives stock options in the wake of the meltdown while employees lost profit sharing pay because of the airline’s financial hit due to the meltdown.

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☆ Southwest pilots detail the Christmas meltdown chaos
▼ + stars: | 2023-02-08 | by ( Gregory Wallace | ) edition.cnn.com time to read: +4 min

CNN —Congress is set to receive new evidence Thursday of internal chaos at Southwest Airlines over the Christmas holiday meltdown. It’s a mess down here.”A photograph of the message, which shows the extent of the airline’s breakdown, is included in testimony the Southwest Airlines Pilots Association union, SWAPA, plans to present at a Senate Commerce committee hearing. “No updates here,” another cockpit computer message to pilots read. Southwest CEO Bob Jordan apologized and the airline offered reimbursements for passengers’ costs, along with bonus points. The union criticized the airline for giving executives stock options in the wake of the meltdown while employees lost profit sharing pay because of the airline’s financial hit due to the meltdown.

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☆ Southwest Airlines reimbursed a couple for a $500 used car they bought to drive home after their flight was canceled
▼ + stars: | 2023-02-06 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +2 min

A couple bought a used car to drive home after being stranded by Southwest flight cancellations. The airline reimbursed the couple $500 for the car. Southwest canceled more than 16,000 flights in late December, and is still processing refunds. "We had an instance where a couple bought a $500 used car to drive home. We covered it and bought them a car, so to speak."

☆ UK plans to reimburse scam victims 'fundamentally flawed,' lawmakers say
▼ + stars: | 2023-02-06 | by ( Iain Withers | ) www.reuters.com time to read: +2 min

LONDON, Feb 6 (Reuters) - Proposals to reimburse hundreds of millions of pounds to scam victims in Britain are "fundamentally flawed" and are taking too long to come into force, lawmakers said in a report published on Monday. So-called "authorised push payment" scams have become Britain's largest type of payment fraud and cost customers 583 million pounds ($715 million) in 2021. Lawmakers on Britain's powerful Treasury Select Committee criticised the plans and said mandatory reimbursements should begin this year at the latest, and not as late as 2024. "Putting an industry body in charge of reimbursing scam victims is like asking a fox to guard the henhouse," said Harriett Baldwin, chair of the Treasury committee. The PSR said it would consider all feedback before publishing its final position in May this year, adding it regulated payment system operators including Pay.UK.

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