Where did the ESOP shares go?

casual rat

Senior
Aug 25, 2002
413
3
Since the Company has sold some, perhaps all of our shares (I honestly don''t know), does anyone know where THAT money went? Why aren''t we getting statements as to how much each employee has currently. Is the reduction of shares unilaterally equal? For example: Pilot ''A'' had 10% of her shares sold. Now does CS Agent ''B'' have the same percentage sold as Pilot ''A''? Or was this just ''made up'' stock--like they do in elementary school? If I''m losing my hypothetical retirement, I''d like to at least be patronized with ''made up'' forms. When you''re being robbed, at least the robber has the courtesy to patronize you by holding a gun to your head....If anyone can offer a clue as to the whereabouts of ''The Lost Shares'', please share in this ''mystery''.
 

Segue

Senior
Oct 31, 2002
276
0
www.usaviation.com
At a buck a share, who really cares. Its academic at this point. Anything UAL gets will only pay for a few weeks burn as the unions once again dig in their heals and resist restructuring.
 
OP
casual rat

casual rat

Senior
Aug 25, 2002
413
3
I hate it when the smilin' guy in the suit and tie pulls a fast one on me.
 

airlineorphan

Senior
Aug 20, 2002
380
0
www.usaviation.com
Well, over here at U, we all received checks and all sorts of mail with statements and such. I received a check for 47 cents, which I shall now frame. I figure it cost the company around $10 to produce the mailings I've received so far.

I wish everyone well over there at UAL! Watch each other's backs!

-Airlineorphan
 

Segue

Senior
Oct 31, 2002
276
0
www.usaviation.com
[blockquote]
----------------
On 1/31/2003 3:21:10 PM casual rat wrote:

I hate it when the smilin' guy in the suit and tie pulls a fast one on me.
----------------
[/blockquote]

You must be referring to the business passenger who has had enough. Yup, "pulling a fast one" on ya!
 

GGpillow

Advanced
Aug 19, 2002
103
0
www.usaviation.com
I think it was quite obvious to anyone with even a small amount of intelligence what CR was referring to. Are you simply here to flame UAL employees? If so perhaps your time would be spent doing something a bit more constructive. That, or, perhaps the yahoo boards would be more to your liking, as those are just a flame fest by uninformed fools with nothing mildly engaging to add to a conversation. You would quite possibly feel right at home.
Good Day
 

Segue

Senior
Oct 31, 2002
276
0
www.usaviation.com
I find it truly amazing - as management fights to save the company, its always portrayed as management trying to pull a fast one on labor. Yes, labor is worried about their paychecks. At the same time, management has to worry about keeping a host of stakeholders happy - the banks, the shareholders (prior to Chapt. 11), the passengers, the suppliers, the alliance partners, and yes, the employees. They have to balance all these competing needs.

With Chapter 11, your importance as a stakeholder has moved down the food chain several notches.
 
OP
casual rat

casual rat

Senior
Aug 25, 2002
413
3
Segue....So, why do you care to defend a Management Team who had the opportunity to be employee/labor friendly, but chose a different direction. Enron lied to it's employees--it's documented, just as UAL has lied to us. UAL sets up the rules, then chooses to set up the employees by not enforcing the rules it writes. For example, CS agents get the beejezus kicked out of them everytime weather, mechanical issues and other factors outside of their control present themselves by judgemental, upset travelers like yourself. Yet they keep smilin', for the next day's demands. They don't get paid enough for the abuse. Where is Management to back up/enforce the rules? Probably in a meeting. This is the tip of the iceburg--the whole industry is just as guilty....I don't know what business your in, but I'm very sure that I can come up with some screwed up observations about you--being on the outside-- but I'm not going to open my mouth and remove all doubt about whether I'm stupid or not....In reality, it's all our fault, but we don't have the leadership at this point to turn things around-- we've supported the administrators too much. Administrators don't have the ability to tell someone what to do, or what needs to be done, they're into job preservation. Maybe they know where 'The Lost Shares' are.