Employee stock purchase program ended!!!!

[The Dissident]

While loking over my paychecks on epays I discovered that the company has ceased deducting the employee sock purchase amount that I had specified when I signed up for the program. After contacting payroll I was informed that the company had cancelled that program.Could this be a precurser to bankruptcy or is the company just not wanting us to buy their stock through payroll deduction while it is such a great bargin??

 

[WingNaPrayer]

AMR announced the ending of that program some time ago. They don't want to be responsible for your losses when they go belly up.

 

[s80dude]

All members of the ESPP recieved a letter from AMR about a month ago stating the end of the program. Your options are to cash out, deposit the shares in another brokerage account, or request a certificate for present # of shares.

Additionally, all $uper$aver members recieved a letter stating that AMR Stock Fund is no longer an option due to the high risk.

 

[RV4]

What is the number to call to execute one of these options?

 

[MiAAmi]

Not to sound like your mother but all that info can be found on Jetnet

 

[s80dude]

anyone who was a participant in the ESPP will recieve a letter from compushare shortly that outlines the three options with instructions on how to proceed with the option of your choosing.

 

[JFK777]

Given the recent happenings at United, WorldCom and Enron AA is being cautious by giving employees a safer investment then its own stock. While AA employees don't have such a heavy concentration in their companies stock, a Bankruptcy would cost employees millions. AA is being prudent for its own employees sake, airlines aren't high-tech or hypergrowth stocks.
I wonder if State Street, the trustee for UA ESOP, is going to sued for not selling stock sooner.

 

[sfb]

[blockquote]
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On 2/26/2003 7:26:12 AM JFK777 wrote:

Given the recent happenings at United, WorldCom and Enron AA is being cautious by giving employees a safer investment then its own stock. While AA employees don't have such a heavy concentration in their companies stock, a Bankruptcy would cost employees millions. AA is being prudent for its own employees sake, airlines aren't high-tech or hypergrowth stocks.

I wonder if State Street, the trustee for UA ESOP, is going to sued for not selling stock sooner.
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[/blockquote]

One would certainly hope not, given the letter from the IAM posted here: http://www.usaviation.com/idealbb/view.asp...sp?topicID=1757 and the sentiments, including a press release from ALPA, expressed in this post: http://www.usaviation.com/idealbb/view.asp...sp?topicID=1560.

Basically... "oh, there's no way management is going to declare bankruptcy, so why the $%#!@ are you selling our ESOP shares... you should have known bankruptcy was coming, why the $%#!@ didn't you sell our ESOP shares sooner?!?!?!"