Sam Zell strikes again. This whole ESOP bullshit and implying that the employees are owners and partners is insulting. We would never support the decision to sell these historic properties or as Zell states, "maximize their value" Who will see the proceeds from these transactions? Not the ESOP "Partners", the "Lender" partners get their cut first and there wont be anything left when they're done.
GCC/IBT Local 140-N Blog
Thursday, June 26, 2008
Sam Zell strikes again. This whole ESOP bullshit and implying that the employees are owners and partners is insulting. We would never support the decision to sell these historic properties or as Zell states, "maximize their value" Who will see the proceeds from these transactions? Not the ESOP "Partners", the "Lender" partners get their cut first and there wont be anything left when they're done.
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