United Airlines CEO threatens mass layoffs unless the federal government bails them out

[Jhhnn]

lol people here are so business retarded that they would rather raise their snout to the concept of 10,000 people being laid off - and would instead rather see 300,000 people being unemployed from a corporate failure. Go figure - out of sight, out of mind for a lot of folks here..


"WHY DONT THEY HAVE $20B IN CASH SAVED UP IN AN EMERGENCY?! OMG they are SOOO IRRESPONSIBLE!"

But you love unrestrained Capitalism, right? Lower taxes, smaller gubmint, fewer regulations & blah, blah, blah. Don't need no stinking Socialism. Let the Sacred Job Creators provide!

Boom & bust are inherent to the whole thing. Remember this from 2002?

United Airlines files for bankruptcy

United Airlines filed for federal bankruptcy court protection today, reeling from two years of heavy losses and unable to pay off nearly $1bn in debt that comes due this week.

www.theguardian.com

Of course the little guys get screwed. One of my former coworkers worked for United for years, until he suddenly didn't. He kept a $300 cheque framed on the wall, what he got for $30K in company stock when it all shook out.

 

[Brainonska511]

Of course the little guys get screwed. One of my former coworkers worked for United for years, until he suddenly didn't. He kept a $300 cheque framed on the wall, what he got for $30K in company stock when it all shook out.

A good reason to never hold a lot of the stock for the company you work at. My company offers a mediocre ESPP (5% discount on the last day of the quarter), but I already carry enough risk from my company by deriving my income from them.