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Collective ownership or ownership sharing is what we're trying
to accomplish at Alaska Airlines and Horizon Air, two U.S. airlines under the
Alaska Air Group (ALK) holding company. You can track our progress (now over
four years old) at <www.eahsop.org>.
One of the many lessons of the United Airline's failed
ESOP was that they snubbed their passenger/customers (certainly their
frequent fliers) and investors outside the ESOP. Treated them like they didn't
matter. Those two stakeholder groups matter a lot, and employees and their
unions that miss out on that reality will pay a sever penalty (bankruptcy
or near bankruptcy in UA's case).
Deregulation of the U.S. airline industry is stumbling. In my
opinion, one of the chief reasons is that the three main stakeholder groups have
yet to get on the same page. That common page is broader and shared ownership of
the enterprise to everyone's accountability and benefit.
The Horizon/Alaska Customer/Employee Co-Ownership Assn.
(HACECA) Inc's website is www.eahsop.org
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