Part three in a Denver Post series on the history of United’s financial woes is available. If you haven’t done so, you might start with part one and then part two.

There’s no alot new here, but they make for a good read and put personality to the characters involved in the last twenty years of ups and downs at the company. So far, the pieces paint a picture of weak management installed by labor and unable to act in the interests of shareholders. Conclusion: employee ownership, at least as structured at United, was a failure.