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United Airlines stock lost nearly a quarter of its value Friday on investor fears that a crippling labor vote setback has dashed
stanley tumblers its efforts to avoid a Chapter 11 bankruptcy filing. The picture is bleak, Blaylock Partners analyst Ray Neidl told CBS News. At this point it looks extremely unlikely that th
stanley cup ey can avoid Chapter 11 filing. Shares in United parent company UAL Corp. plummeted 84 cents, or 23 percent, to close at $2.79 in a heavy sell-off during shortened holiday hours on the New York Stock Exchange. More than 21 million shares were traded, six times the average daily volume, and at one point the stock sank as low as $1.72 mdash; not far off the more than four-decade low of $1.42 reached last month.CBS MarketWatch analyst Neal Chase doesn t think the co
stanley mug mpany s financial troubles will affect passengers this weekend, other than seeing some nervous employees wondering about their futures. The big impact if we see an impact from this on travelers could come between now and Christmas if United is forced to file for bankruptcy, if they then have to change their schedules around for Christmas, that could be the first time we really see an impact, he said. Following United mechanics rejection Wednesday of pay cuts that are a key element of its multibillion-dollar financial recovery plan, Standard Poor s slashed its credit ratings Friday on UAL and said the company appears almost out of options to keep out of bankruptcy. The mechanics vote makes bankr Pctn Occupy protests: Month 8
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