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United Workers Finally Win Out


In Business This Week

UNITED WORKERS FINALLY WIN OUT

It took them seven years and five tries, but employees of United Airlines finally own the airline. On July 12, UAL shareholders approved a $4.8 billion buyout that gives 55% of the company to workers in exchange for wage concessions. Despite grousing by shareholders, the deal received 70% of the votes. Newly installed Chairman Gerald Greenwald, a former Chrysler executive, let it be known that United's new short-haul airline will be called, simply enough, United Shuttle.EDITED BY KEITH H. HAMMONDS


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