Did OM's respite cause current Board Takeover
04-16-2016, 03:24 PM
#232
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The mechanics may take a bit longer to recover from the chaff remaining from Jeffry. Once that is done, I'm guessing the next offer will be at least realistic, and not remnants of Jeff's middle management.
04-18-2016, 01:48 PM
#234
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I know OM was supposed to SAVE US but did his medical condition and the inaction on the board inadvertly put United in play.
We can't blame the takeover group or GB for taking the action they have. We've been without anybody running the store, even with OM trying from the sick bed. Where was the BOD? OM had more than a hangnail and the BOD should have acted swiftly for a replacement instead of the TEMP. The current Board and OM put United in play.
We can't blame the takeover group or GB for taking the action they have. We've been without anybody running the store, even with OM trying from the sick bed. Where was the BOD? OM had more than a hangnail and the BOD should have acted swiftly for a replacement instead of the TEMP. The current Board and OM put United in play.
Enough said except GB (GorGO) doesn't get to play. Next question will be how long does OM get to stay --
04-18-2016, 02:40 PM
#235
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United Airlines Close to Accepting Board Overhaul Demanded by Activist Investors
Julie Johnsson and Michael Sasso, Bloomberg - Apr 18, 2016 5:33 pm
United Airlines
United Continental Holdings Inc. is nearing an agreement with activist investors that would include replacing Chairman Henry Meyer III as part of a broader board overhaul, people with familiar with the talks said.
Meyer’s departure would clear the way for a successor with deep airline experience, one of the changes sought by Altimeter Capital Management LP and PAR Capital Management Inc., which combined control 7.2 percent of the airline’s stock. The 66-year-old retired banker has served as United’s non-executive chairman since the September ouster of former Chief Executive Officer Jeff Smisek, but drew criticism for communication lapses when new CEO Oscar Munoz fell gravely ill.
Contenders to succeed Meyer include two directors who joined the United board a day before the proxy fight became public: former Air Canada CEO Robert Milton and James Whitehurst, a former chief operating officer at Delta Air Lines Inc., three of the people said. Milton is poised to emerge as the winner because of his stint heading the Canadian carrier and its holding company, two of the people said.
The company has been working with the investors to end a boardroom battle that threatened to overshadow Munoz’s efforts to turn around United, whose stock and operational performance have largely lagged peers since it acquired Continental Airlines in 2010. The parties could have an agreement in hand by the time United reports earnings on April 20, one of the people said.
The negotiations are ongoing and a final agreement hasn’t been reached, the people said. United spokeswoman Megan McCarthy and a representative for Par and Altimeter both declined to comment. Meyer didn’t respond to a request for comment.
Activist Representation
The funds are set to gain representation on United’s board, but not the six seats they had requested, the people said. Two or three of the investors’ candidates are under consideration for director posts, while former Continental CEO Gordon Bethune is no longer in the running, they said.
The boardroom tussle broke into public view March 8, when the funds proposed an insurgent slate that included Bethune, who revived Continental in the 1990s, former Orbitz Worldwide Inc. CEO Barney Harford and Brad Gerstner, founder and CEO of Altimeter Capital.
The activist investors said in a letter that they supported Munoz and weren’t seeking to control the board. Rather, they believe the airline would be better served by naming either Bethune, Milton or Whitehurst as chairman.
Munoz Support
Employees have rallied in support of Munoz, who took over from Smisek in September after leaving railroad CSX Corp. Munoz was sidelined with a heart attack about a month later and subsequently received a heart transplant.
Pilots and flight attendants picketed Par and Altimeter headquarters in Boston on April 6, complaining that the board fight was creating unnecessary distractions.
During his recovery, Munoz made appearances around the company and pushed for labor peace as a step to revitalizing United’s culture and improving service. The approach has been “night and day” from the divisive tactics favored by previous management teams, said Craig Symons, president of the union that represents United’s flight dispatchers.
“It is finally a decent place to work,” he said by phone. “I haven’t seen it this optimistic in a long time.”
04-18-2016, 02:53 PM
#236
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United Airlines Has a New Contract That Will Raise Pay for 30,000 Workers
Associated Press - Apr 17, 2016 7:00 pm
United has made great labor strides under its new CEO. — Jason Clampet
United Airlines workers have ratified a set of new contracts that will increase their pay and benefits over the next five years.
Airline and union representatives said Saturday that the vote was “overwhelming” in favor of the contracts, which govern about 30,000 employees including airport workers, security officers and other staffers.
The new pacts will increase pay by about 30 percent over five years, raise pension benefits and halt outsourcing of some union jobs.
United said the agreements follow four months of negotiations and were reached before the old contracts were set to be amended.
Chicago-based United Continental Holdings Inc. recently and dispatchers. It’s also in talks with flight attendants and technicians.
Associated Press - Apr 17, 2016 7:00 pm
United has made great labor strides under its new CEO. — Jason Clampet
United Airlines workers have ratified a set of new contracts that will increase their pay and benefits over the next five years.
Airline and union representatives said Saturday that the vote was “overwhelming” in favor of the contracts, which govern about 30,000 employees including airport workers, security officers and other staffers.
The new pacts will increase pay by about 30 percent over five years, raise pension benefits and halt outsourcing of some union jobs.
United said the agreements follow four months of negotiations and were reached before the old contracts were set to be amended.
Chicago-based United Continental Holdings Inc. recently and dispatchers. It’s also in talks with flight attendants and technicians.
04-18-2016, 03:25 PM
#238
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That was a big part of it, but that didn't contracts/extensions done for over half of the employees in very short order. It didn't get 65 737s for 75% off or improve almost every operational metric to the point UAL is competing in that regard with DAL.
04-18-2016, 03:52 PM
#239
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It wasn't due to OM - he didn't have enough time to do all you would like to give him credit. Unfortunately or fortunately the Boeing deal was likely in the works with JS. OM just happened to be at the helm, even if in sick bed, when the effect of JS leaving happened. Sorry!
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