I haven''t made up my mind one way or the other on the merits of an ESOP. But today isn''t 100% of your income derived from AMR if you''re an employee? As I understand it the employees wouldn''t be running the company. A new management(outsiders) would be brought in to run things. If you really look at the history of AMR over the last few years, they''ve(Current Mg''mt) done a horrendous job of running this company. Just to name a few strategic and tactical SNAFU''s commited by them: 1. 500 million invested in now gone Canadian Airlines. 2. Openning and closing San Jose, Nashville, RDU(untold millions). 3. The Reno purchase. 4. The Aircal purchase 5. The TWA purchase. The question is not can the employees do a better job, but whether we can find competent mamagement who is passionate about running an airline, and one who values their employees the way SWA and Jetblue does. It can be a win-win proposition!! All you have to do is look the top 10 companies in america, and I garuantee you that the management of those firms meet or exceed the criteria.
Sorry for the long post. Thanks for listening.