‘Employee Owners’ Flying in Turbulence

The Times states that United Airlines employees “must start thinking like owners and recognize the need for painful concessions” (editorial, Aug. 13). As one of those so-called “employee owners,” I am sure I do not speak only for myself in calling this a load of bunk. Now, Jack Creighton, chairman of United and its parent, UAL Corp., threatens to blackmail us with bankruptcy protection for the airline if we don’t cough up billions, and pronto (Business, Aug. 15.) Under the hoax of “employee ownership” in 1994, UAL pilots and workers forked over $4.5 billion in concessions to the carrier for stock, roughly at a purchase price of $40 a share. This included going eight subsequent years without a raise as the carrier garnered record profit. Then the bubble burst. Now the stock hovers above a buck, after peaking at more than $100 a share five years ago. Of course, we couldn’t sell it and watched it plummet, like Enron, to where it is now. Meanwhile, the real owners and top officers of the airline raked in the lucre.

Real owners get bonuses when they slash wages, downsize work forces and increase productivity--at the expense of labor. Why should we cut our own wages, gut benefits, work harder and longer? UAL employees should stop trying to think like the owners we never were or will be and start acting like the workers we are. The U.S. economic crisis, including in the airline sector, shows a great divide between labor and the real owners. Understanding this fact is the beginning of wisdom for workers who want to defend our rights against the current and coming pillage.

Jon Hillson

Inglewood