Hi it's Glenn, and it's Tuesday, December 16th. I'm calling today from World Headquarters in Chicago.

On Friday, during our weekly leadership call, we began to communicate the launch of our new incentive pay program, which we have decided to call "Success Sharing." I believe the program is going to help us build on the significant progress that we have already made together as a company.

We're calling the program Success Sharing, because it simply does just that -- it gives the majority of our [US payroll] employees an opportunity to share in the success of the business when we meet our performance objectives.

The principle behind Success Sharing is simple: when we deliver strong operating and financial performance, everyone participates in the benefit. However, we must meet our objectives. If we don't, then none of us will receive a payout from the program.

This is an important moment in the evolution of our company and there are a few things I'd like to highlight about Success Sharing.

For the first time, United will have an incentive plan that includes the majority of the company's employees, not just one particular group. In fact, we intend to include all employees eventually as we roll the program out around the world.

We felt it was important for every employee of the company, no matter his or her position, to be working toward the same clear goals, or as we've said many times, to be on the same good page.

We have taken care over the course of the past year to make sure that the program ties our rewards to a set of common operating and financial measures that we all have an impact on every day, both as individuals and as team members.

Next year, in 2004, Success Sharing will reward employees based on United's performance in three areas that have long been a focus and that are drivers of the company's success:

The first measure will be customer satisfaction as measured by Definite Customer Intent to Repurchase; the second measure will be on-time:00 departures; and the third will be financial performance, and it will be measured by operating earnings.

I want to underscore that our number one priority – safety – although not a goal in the Success Sharing program, is fundamental to running our airline and will continue to override any other considerations.

The rewards for the Success Sharing program will be in cash. We will measure and pay out awards on a quarterly basis for meeting our two operating goals, customer satisfaction and on-time performance.

Paying on a quarterly basis is unusual, but we wanted to ensure that we linked any payment for these operational goals as closely as possible to our collective performance. This is different from our financial goal -- operating income -- which will be measured and paid out on an annual basis. The financial success of our company will be driven by our ability to match and to exceed the performance of our competitors.

It's the sum of what we all do every day, whether it's making sure our planes take off on time, repairing an engine, or developing a new marketing initiative that will differentiate us in the eyes of our customers and all of our constituencies.

What Success Sharing does is clearly link financial reward for an individual to the service that we provide and the earnings we generate. It draws a connection between our jobs and United's overall ability to compete, and that, in fact, is what success is really all about. Not only running a good airline, but providing better products and better service to our customers than our competitors and making a profit while we do it.

I want to take this moment to congratulate all of you for contributing to the momentum that we have built in the face of an unbelievably difficult year.

At the same time, I want to stress that to make Success Sharing a reality – we need to continue to execute not only as well but better than our competitors. We need to keep doing good work, we need to stay focused on the customer, we need to keep the costs we can control under control and we need to meet our targets. If we do, then we are all going to be rewarded financially.

Over the next few weeks and well into the New Year, we'll be introducing you to the details of Success Sharing and what you can do to help us all accomplish our goals. I am confident that we're going to meet these goals and in doing so, we're going to create a better United, one that will have the financial strength, the flexibility and the stability to compete and to win in the longer term. This is truly an important program and it's a genuine opportunity for all of us.

That's all for this call. I’ll be talking again soon. In the meantime, stay United.