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United Airlines' pilots up in arms over management's stock buyback plan
2015-07-28 12:05:43| Airlines - Topix.net
In the wake of last week's announcement that United Airlines would launch a $3 billion stock repurchase effort, United pilots are seriously questioning the wisdom of that move by management of the Chicago-based airline. In a strongly-worded memo sent late last week to his fellow 12,500-plus unionized United pilots, Jay Heppner , a United captain and chairman of the United chapter of the Air Line Pilots Association , wrote that "buying back shares of a company's stock signals to investors that executive management cannot think of anything better to do with its excess cash."
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