In trouble even before the terrorist attacks last month, United Airlines is now reeling, with its machinist union calling for the ouster of the company's CEO. Here's your chance to take over the company and tell us how you'd solve United's problems.
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As Investor's Business Daily and other news sources reported Thursday, United Airlines' largest union is pushing to oust Chairman and CEO James Goodwin. In its demand, the machinist's union, representing some 45,000 current and laid-off employees at United, cited a "woeful lack of strong senior leadership." Earlier this week, flight attendants at United called for Goodwin's ouster as well. UAL Corp.'s (NYSE: UAL) United Airlines, in deep fiscal trouble before the September 11th terrorist attacks, is now reeling. On November 1, the company is expected to announce $1 billion in losses for its last three months of business. Last week, Goodwin mailed a letter to United employees claiming that the airline would go bankrupt in the next year if the tide of losses weren't stemmed. Your chance to be CEO In 100-1000 words, please share your best ideas for United Airlines on our UAL Corp. discussion board. The winning five selections will receive free entry into our upcoming What To Do Now: Managing Your Money in Today's Market online seminar, taught by Tom and David Gardner. We'll review submissions through November 1. Click here to read the complete contest rules and fun legal jargon. Now off to the board! This contest is not affiliated with, endorsed, or licensed by UAL Corporation.
Whether Mr. Goodwin is ousted or not, we write to inspire your best thoughts for how to save United Airlines. If YOU are appointed CEO of United in the coming weeks, what will you do to save this beleaguered national airline, return it to profitability, and bring its market capitalization above its dismal present perch of $750 million (one-eighth the value of Yahoo! (Nasdaq: YHOO) for context).
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