Wolf Accused of Bad Faith: United Airlines...

Wolf Accused of Bad Faith: United Airlines pilots accused UAL Corp. Chairman Stephen M. Wolf of trying to undermine them in a letter that was seen as an indication that the proposed $4.4-billion buyout of the carrier is in deep trouble. In a four-page letter to its members, the United Airlines unit of the Air Line Pilots Assn. said Wolf is telling the company’s board that employee ownership is not widely supported by the union’s members. “Unfortunately, some members of the board believe him, and the board will decide our collective future on Oct. 9 based on Mr. Wolf’s allegations,” the group said. Oct. 9 is the deadline for the pilot-led group to arrange financing for the $201-a-share deal, which the board accepted in April. UAL stock plummeted $8.50 on Monday to $92.25.