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Employees try to seize control of Continental by ESOP
Continental Airlines workers form the Continental Employees' Association claiming sweat equity as they plan to buy 15.4 million new shares with an ESOP loan to gain control and block Texas International's takeover. over 10,000 employees would forego raises to fund the $185 million purchase.
MENTIONED IN THIS ARTICLE
Los Angeles
Continental Airlines
Texas International Airlines
Paul Eckel
Continental Employes’ Association
Eckel
CEA
Manage
U.S
Esops
Houston
Texas International
Stephanie Ross
Continental