UAL will not go down the pan.
This is just another goodwin hamfisted try at trying to screw the employees, so he can make up for the squandered millions he wasted on his US Air deal and to help pay for his next f-up, the aquisition of a biz jet company.
As I said at the beginning, UAL will not go down, but only if we have a vote of no confidence and get somebody into that position who can do the job. (Greenwald ?)
And for those who champion the pay cut option. I think I would like to see the huge bonuses the top management awarded themselves given back first.