Originally Posted by
A320
That it was but I couldn't write it all on the iPhone while driving in traffic. the ESOP was a deal that anyone with a 9h grade education wouldn't have voted for.
But, if you could have that ESOP contract today would you refuse to take it? Or, when you are out on the street next year, looking at scabs flying over your head, will you wish you had an ESOP to control your own destiny.
No argument that the "94" version of ESOP was badly flawed. It failed because the union leadership that followed the founders were mostly inept. They did not understand that everyone except for the pilots were trying to kill it. Nevertheless, except for 911, you would probably have a more palatable version of ESOP now and have avoided bankruptcy.
Owning the company stock was not our goal, although the SWA guys did very well with that concept. Our goal was raw power, unfortunately, the tree huggers saw it differently, as an attempt to make a workers paradise. The ESOP failure is the prime example of a disinterested membership electing the wrong leadership.
Baron