ESOP United
05-16-2020 | 07:44 AM
#1
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ESOP United
What happened to the ESOP concept that began in 1995? Doesn’t that give us a say in the company direction?
05-16-2020 | 08:15 AM
#2
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The pilots, like all the shareholders, lost all the ownership of the company in the bankruptcy. The ESOP died years ago.
We did, however, retain a seat on the Board of Directors. One vote out of 13. So we have "say" but no veto power (like in the ESOP days). Obviously, our one vote is not a majority.
05-16-2020 | 08:26 AM
#3
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I believe ESOP also means you cannot sell company stock until retirement
05-16-2020 | 10:14 AM
#4
New Hire
Joined: Jan 2019
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From: 777
bad deal
ESOP stock was a necessary deal (subject to opinion) with poorly negotiated restrictions. The shares were non voting and you couldn't sell them until you retired. What union leadership would sell that to it's members? The same leadership that gave us a bad bankruptcy contract. Why not give me the same stock management gets, discounted, voting, and I can sell almost immediately. Sorry in advance for the rant.
05-16-2020 | 10:50 AM
#5
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ESOP stock was a necessary deal (subject to opinion) with poorly negotiated restrictions. The shares were non voting and you couldn't sell them until you retired. What union leadership would sell that to it's members? The same leadership that gave us a bad bankruptcy contract. Why not give me the same stock management gets, discounted, voting, and I can sell almost immediately. Sorry in advance for the rant.
05-16-2020 | 11:44 AM
#6
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Joined: Mar 2006
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From: guppy CA
ESOP stock was a necessary deal (subject to opinion) with poorly negotiated restrictions. The shares were non voting and you couldn't sell them until you retired. What union leadership would sell that to it's members? The same leadership that gave us a bad bankruptcy contract. Why not give me the same stock management gets, discounted, voting, and I can sell almost immediately. Sorry in advance for the rant.
05-16-2020 | 12:04 PM
#7
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We should be pushing management to consider an ESPP again now that the stock is low
05-16-2020 | 12:12 PM
#8
Gets Weekends Off
Joined: Mar 2006
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From: guppy CA
Dubo Jr, is that you?Airline stocks are NOT investments. One might as well have a fun weekend in Vegas rather than dump money in airline stocks.
Known for his candor, Crandall later told an interviewer, "I've never invested in any airline. I'm an airline manager. I don't invest in airlines. And I always said to the employees of American, 'This is not an appropriate investment. It's a great place to work and it's a great company that does important work. But airlines are not an investment.'" Crandall noted that since the airline deregulation of the 1970s, some 150 airlines had gone out of business. "A lot of people came into the airline business. Most of them promptly exited, minus their money," he said.
Warren Buffett's been burned by airline investments more than once.
05-16-2020 | 12:47 PM
#9
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From: The GF of FUPM
Crandall was a POS who should have done time for his price-fixing BS attempts with Braniff.
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