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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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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?!?!?!"