UAL Payout Short Changes Shareholders
December 7, 2007
Best Shareholder Initiative Repays Employee Sacrifices, Strengthens Airline
Chicago – The Association of Flight Attendants-CWA, AFL-CIO (AFA-CWA), today blasted the decision of UAL executives, which was also approved by the UAL Board of Directors, to give a special payout to shareholders. The Union said this move undercuts the value of United Airlines by favoring short-term shareholder returns over a strong, motivated workforce, an improved customer experience and the long-term health of the airline.
"The executives at United Airlines are nothing more than charlatans, sweetening the pot to flip our airline like an unscrupulous real estate agent," said Greg Davidowitch, AFA President at United in a letter to flight attendants. "This shareholder "initiative" is nothing more than an executive induced plan to enrich themselves at the expense of the working women and men of United Airlines. The best shareholder initiative would be one that invests in the employees for the long-term success of the airline."
"Flight Attendants and other workers know that any time an employee or shareholder gets a supposed return on United's success, executives are getting an even bigger return on top of their renegotiated compensation packages," stated Davidowitch. "Workers are fed up. They are fed up with these executives initiating class warfare instead of making good decisions for our airline."
The letter to the flight attendant members of the AFA-CWA is posted at www.unitedafa.org.
More than 55,000 flight attendants, including the 17,000 flight attendants at United, join together to form AFA, the world's largest flight attendant union. AFA is part of the 700,000 member strong Communications Workers of America, AFL-CIO. Visit us at www.unitedafa.org.
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