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Hello Fellow Fools:

My name is Jamake and I'd like to introduce myself as the new CEO of UAL
Corporation. In this briefing I will be presenting a 5-point plan of action in order to stem the hemmoraging that is currently occuring within the company. The plan is as follows:

1. Effective December 1, 2001 USAirways will join the Star Alliance. This union will benefit both UAL shareholders and customers. United
will gain important eastcoast and southeast access as well as
significant revenue synergies at virtually no cost to the company.
Both airlines will codeshare on each other's flights. Mileage Plus members and Dividend Miles members will be able to earn miles on either United or USAirways. Due to the precarious financial
positions of both carriers, we are hopeful of expedited approval
from the DOJ and furthermore, we will request anti-trust immunity.

2. Effective immediately, UAL Corporation will suspend further investment in Avolar. Although, there was opportunity for significant
revenue inhancement through the venture, the BOD has agreed that the
project can no longer continue due to the current cash crisis at United.

3. In an effort to improve operations at United, effective November 1
we will be introducing performance-based compensation and bonuses to
our employee groups. Cash bonuses will be offered each month United
improves its performance in the areas of on-time departures and baggage handling. It was agreed by the BOD that incentive must be
provided in order to restore operational reliability.

4. Effective immediately, Gregg Brennan, our new president, and I will
begin a series of employee roadshows at all of our hub cities as well as some of our secondary cities, such as JFK, EWR, BOS, MIA, LHR, CDG, NRT, and HKG. These roadshows will enable us to introduce ourselves to our employee groups as well as seek solutions to deficiencies in our operations. I believe that the front line employees are a vital source for information and can provide us with
insight into where and why systematic breakdowns occur.

5. We are suffering from significant over-capacity in some of our markets where we operate the Boeing 747-400. On December 1, we will
begin converting 10 747-400 aircraft to freighters and re-introducing
United Worldwide Cargo. Improved revenue performance is expected and
rather than spend money on the launch of Avolar, we will merely re-allocate the resources that we already have.

Looking forward, as financial stability returns to the company we would
like to re-negotiate the scope language in some of our union contracts.
The scope clauses inhibit United from owning their United Express partners. I would ultimately like to bring the express carriers into the
UAL fold. Due to the fact that we do not own our partners, United suffers from decreased revenue streams that AMR and Continental enjoy.
Furthermore, I believe that a gap exists in the quality of service between mainline United and United Express and that by wholly owning
our partners we can close this gap.

I am also very eager to work with the IAM in bringing negotiations to
a close and reaching a mutually acceptable agreement for its members as
well as for the company.

I want to thank you for your time and for this opportunity to speak with
you today. Our new management team is eager to get to work in restoring
United Airlines into a premier world-class global carrier.
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