EDUCATE YOURSELVES
TUESDAY’S TOPICS
July 26, 2011
REMEMBER
ESOP
Stephen
Wolf laid the ground work for the Employee Stock Ownership Plan, ESOP.
On July 12, 1994, ESOP was approved by the UAL Corp. stockholders.
Pilots, Mechanics, Ramp, and Stores
employees had a union to negotiate their participation.
Flight Attendants through their Union, opted not to participate.
Customer Service and Reservations, (now known as PCE) were “told” we
would participate.
The IAM
represented groups received almost twice as much in shares.
They received both preferred and regular stock.
Why, because the Unions negotiated it for
their groups. Our group received only regular stock.
The IAM groups were able to receive
credit for future raises and giving up their half hour paid lunch.
Our group was non-union and didn’t have a contract, we never received
credit for future raises and our paid lunches had already been taken years
before.
Remember,
all groups were promised snap backs?
Union represented groups did snap back, because that was what was
negotiated for them. We did not. We were
told by the Company, they didn’t have to…. we didn’t have a contract. These
groups all had unions to protect them.
We had the Round Table and nothing
was legal or binding.
THE CHOICE IS YOURS
EMAIL DENIAMMERGERTEAM@AOL.COM