After Summer of 2000, this is one comment (regarding the press-leaked Goodwin Letter) that I didn't expect to hear the ALPA pilot union UAL MEC Chairman say:
What we do know, of course, is that this untimely release has caused immense damage to the Corporation in the stock market and in terms of morale within the Company. -- UAL Pilot Union Chairman Rick Dubinsky
He then go on to state:
Putting that to one side, the letter itself merely recapitulates what the Company has already made known to all of us already, namely, that the Company and the industry were facing very difficult circumstances prior to September 11th...
Ya think? If you look at a stock chart, you'll see that the price for UAL common stock has been steadily falling since the proposed US Airways merger and pilot contract disputes in the Summer of 2000. Look how it fell between January and March of 2000 alone! The 'intense damage' to stock price and employee morale had been done long before Goodwin every put pen to paper to write that letter.
Even Jar Jar agrees, as far as United Airlines employee morale goes, that had already undergone massive damage months ago, with the flight attendant contract violations, the mechanic's union negotiation uncertainties, the US Airways merger fiasco ($50 million wasted cancellation fee), and the BizJet jitters strung out over all our non-ESOP heads.
In fact, it seems that the only major employee group morale boost of the past couple of years was the pilot raises!
Whatever damage was done to the employees over time, was quickly and severely worsened on September 11; there's no question about that.
But that letter released from Goodwin yesterday will long be remembered for doing little but perhaps embarrassing himself a bit. Yousa see!