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TRANSPORTATION
United machinists object to cuts
The bankrupt carrier's machinists union said United Airlines didn't provide enough financial data to back up its claim a 13% pay cut is needed for survival. The UAL unit's pilots and flight attendants unions have already agreed to temporary wage cuts. UAL has said if it doesn't get $2.4 bil in annual cost savings, it may lose bankruptcy financing.
** Bankruptcy Judge Eugene Wedoff extended a stay on share sales of UAL's employee stock ownership plan to Jan. 15. United opposes any sales. But ESOP trustee State Street filed to sell the plan's remaining 32.4 mil shares.
ACCOUNTING
FASB may mull option rules in Q1
The Financial Accounting Standards Board will decide in late Q1 '03 if it'll overhaul rules that let U.S. ...