Business Services Industry
Falling Stock Prices Threaten Employees' Nest Eggs, Compounding Layoff Pain.
Knight Ridder/Tribune Business News, December, 2001
By James P. Miller, Chicago Tribune Knight Ridder/Tribune Business News
Dec. 2--A few years ago, United Airlines ramp worker Wally Blankenship was figuring on a comfortable retirement after more than three decades of loading luggage and freight into the metal bellies of United airplanes.
After all, in addition to the company pension he would receive, he owned 1,500 shares of stock in United parent UAL Corp.--shares he'd paid for with painful wage givebacks in the mid-1990s as part of a partial employee buyout of the Chicago carrier.
When the shares briefly touched a high of $100 at the close of 1997, Blankenship was thrilled to see that his investment had become worth about $150,000.
"If I could've got them out then, I would...
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