It looks to me that unless labor stops all these games they will liquidate UA before Sept. Roger James wrote: > United's unions discuss alternate plan > By Marilyn Adams, USA TODAY > > Signaling growing conflicts within United Airlines, its labor leaders met=20 > recently with two investment firms =97 including one headed by the company's= > =20 > former CEO =97 to discuss alternatives to management's=20 > bankruptcy-reorganization plan. The discord comes as the management of UAL,= > =20 > United's parent, attempts to negotiate $2.5 billion a year in labor cost=20 > cuts by March 15. > Labor unions' discussions with outside investors could be a way of=20 > pressuring management into a compromise. Or they could be the opening=20 > gambit in a power struggle over UAL's direction. The unions met with the=20 > Texas Pacific Group and Greenbriar Equity Group, according to people=20 > knowledgeable about the meetings. Texas Pacific provided the financing that= > =20 > brought Continental Airlines and America West out of Chapter 11 in the=20 > 1990s and recently bid for the same role in US Airways' Chapter 11 case.=20 > Greenbriar is headed by former United CEO Gerald Greenwald, whom unions=20 > recruited to lead the company after employees bought control of UAL in 1994. > > People familiar with the meetings said labor leaders voiced doubts about=20 > whether United's management team is capable of leading it out of Chapter 11= > =20 > reorganization. Although United's workers aren't expected to retain their=20 > majority stake, reorganization would be difficult without employees'=20 > support. Labor leaders who could be reached Sunday declined to comment on=20 > the meetings, and United downplayed them. "Conversations with interested=20 > parties are taking place and will continue to take place," United spokesman= > =20 > Chris Brathwaite said Sunday. Brathwaite said Greenwald told the company=20 > Friday that he discussed only exit financing with the unions and not a=20 > turnaround that would remove current management. BusinessWeek reports in=20 > its March 3 issue that some United labor leaders want Greenwald to be=20 > non-executive chairman and bring in new money and management. United=20 > dismisses the story. Among labor leaders, the most controversial aspect of= > =20 > United's plan is a proposal to start a low-cost airline within United that= > =20 > would have separate labor contracts. United executives insist a separate=20 > operation, with much lower operating costs, is crucial to compete against=20 > discount carriers such as Southwest Airlines. > > *************************************************** > The owner of Roger's Trinbago Site/TnTisland.com > Roj (Roger James) > > escape email mailto:ejames@escape.ca > Trinbago site: www.tntisland.com > Carib Brass Ctn site www.tntisland.com/caribbeanbrassconnection/ > Steel Expressions www.mts.net/~ejames/se/ > Site of the Week: http://www.dbombo.net/muddyangels/ > TnT Webdirectory: http://search.co.tt > ********************************************************* -- Sincerely, Chris Myers 281-584-0029 x217 800-639-0450 x217 This message may contain information that is CLIENT PRIVILEGED, or otherwise PRIVILEGED or CONFIDENTIAL. If you have received this communication in error, please erase all copies of this message and its attachments and notify us immediately. Thank you.