August 30, 1995 |
Lockheed Martin Corp. said Tuesday that it set stock ownership guidelines for key employees to encourage management to strive for superior results for the company and its shareholders. The aerospace giant, which was formed this year by the merger of Lockheed Corp. and Martin Marietta Corp., said it will ask 1,400 employees to establish or increase their equity holdings in the company at a level two to five times their annual base salary.
August 17, 1995 |
Mutual fund giant Fidelity Investments said Wednesday that its parent, privately held FMR Corp., has given a 51% voting stake to 50 top executives and fund managers in what is believed to be the biggest ever transfer of voting control of a company to its employees.
August 16, 1995 |
A lot of people lost money investing in shares of Broadway Stores and its predecessor chain, Carter Hawley Hale. But probably no one lost more than the employees who tried hardest to believe in their company--and who bet their retirement money on the business. There's a lesson here for every employee, regardless of your company or your rank: Don't invest excessively in the stock of your own business. Keep it to a relatively small portion of your retirement funds and your total financial assets.
July 16, 1995 |
For a clear picture of the American worker today, under pressure, threatened by competition at every turn, yet capable of great accomplishment and even of making a buck or two, look to employee-owned United Airlines. The employee stock ownership plan (ESOP) that bought 55% of UAL Corp.
August 15, 1994 |
USAir Group Inc. and its pilots union are further apart on wage concessions than expected, but a deal to rescue the troubled carrier from high labor costs still looks possible, analysts say. Before the union issued a sweeping proposal early this month to restructure USAir in exchange for pay cuts, some analysts had seen the airline implementing labor cost savings by September. That forecast now looks overly optimistic.
July 15, 1994 |
Two days after United Airlines parent UAL Corp. became the nation's largest employee-controlled company, new UAL Chairman Gerald Greenwald arrived at Los Angeles International Airport on Thursday to meet and talk with his workers. They shook his hand, called him "partner" and praised his approachable manner. "He saved a whole lot of jobs," said Stan Macdonneil, 52, a ground crew worker. "We are going to make it work."
March 26, 1994 |
United Airlines and two of its major unions reached final agreement Friday on an employee buyout that would make the airline the nation's largest worker-owned company. The $5-billion buyout ran into a major stumbling block 10 days ago when the nation's largest airline and its unions failed to meet a signing deadline amid squabbling over the size of employee concessions and other matters.
March 17, 1994 |
United Airlines executives and union officials said Wednesday that an employee buyout plan could be in jeopardy after both sides missed a deadline to produce a definitive agreement. United, the International Assn. of Machinists and the Air Line Pilots Assn. were supposed to have completed an agreement by Tuesday under the preliminary terms of the deal.