Just a theory.
Just why would CAL expend so much time and energy and money to put together a deal with United and then pull out when we thought the deal was closed?
Perhaps it sounds reminiscent of Delta's initial refusal to consider a merger with Northwest. When Northwest first made ovations to consolidate with DAL, Delta said very publicly that they would be better off as stand lone carrier. But as we all know a deal was finally struck...even a deal with those pesky pilots.
Now it seems Continental is just trying to sweeten the deal for themselves. They bait the hook and Glenn, being the stupid trout that he is, bit down hard. Then it comes time to sign on the dotted line and CAL changes their mind. Hmmm...
Let's not forget where Continental came from. This is a very familiar Lorenzo tactic. That is to say; Strike a great deal, get ready to shake hands and then change your mind because you can always ask for more. Continental is not going to let us into their pants unless we promise to marry them and buy them a big house. That means we give up a lot. And since Glenn can't play poker without showing his hand to everyone at the table, CAL thinks we have more to give. They are certianly not wrong about this.
The panic now showing among our employee groups is just what Continental wants to see. We are desperate and they think that our only other choice is USAir. Which of course, would be like marrying Brittany Spears. We get scared. Investors get scared and the bankers get pissed. Collective pressure is now put on Glenn and our union to soften our position to get a Continental deal done...since USAir will mean a quick (but painful) death.
Glenn has shown his cards and his rather well compensated ass to everyone. Continental is just going to prove that it is all too easy to fleece a moron. In fact, they can probably be excused for disbelieving their own luck.
I'm going to call BS here. This is no different than when CAL was between NWA and DAL 10 years ago. DAL had that eliteist-a$$monkey-Harvard-tool who thought he was better than anyone else running an airline and Bethune gave him the biggest corporate bitchslap of his career by going with NWA (at the last second)!! Equally elietist Tilton just got the same and it's got nothing to do with UAL employeses. Nobody at my airline is walking around with "screwUAL" pins on.
Bethune gave you guys a hard time back in the day, but compare that to what every UAL employee carried on like back in Denver??? CAL has been entirely civil.