It is amazing that a carrier the size of United would be trading at the level it did today.
United is an employee-owned business. On most occasions employee ownership caused inefficiency, way higher salaries that industry norm, redundant personnel, poor work ethics, resistance to technological change, etc.
The UAL pilots get paid double of some of their competitors and tens of thousands (80,000?) more than the second highest-paying airline. Of course the pilots own 1/2 of all the employee-owned stock. The employees own the majority of the stock in that company.
It's too bad that United will probably go through bancrupcy, be relieved from paying on it's debts (really owed by the owners, more than half of which are the employees) and thus will be able to undercut the more sensible competitors who's employees get lower salaries and drive those out of business.
There are airline companies in the US that not only are not in bancrupcy but actually making profits and growing.
United should not be allowed to use Chapter 11 protection but rather liquidated so that it's assets are acquired by other better-run companies as well as any employees worth hiring.
P.S. It's so nice when the hated capitalist fat cats and unions are one and the same and are going down!
miko
