Employee stock purchase program ended!!!!

The Dissident

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Dec 21, 2002
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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??
 
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.
 
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.
 
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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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?!?!?!"