UPDATED: Federal pension agency puts American on notice

The most recent development in the AMR bankruptcy case involves a sharp public warning issued yesterday by the head of the federal Pension Benefit Guaranty Corp. to the company: Do not use Chapter 11 to evade pension obligations. Here is a long, detailed story that includes background on the airline and its troubles.

UPDATE on Thursday: American says it plans to cut 13,000 jobs as part of the "process."