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With the launch of its Employee Stock Ownership Plan (ESOP) on July 12, 1994, United became the largest majority employee owned company in the world. Under the historic arrangement, most United employees took wage and benefit cuts in return for shares of UAL Corp. stock. The ESOP also gave United's pilots, machinists, and salaried and management employees representation on the company's board of directors and was the basis for establishing a new ownership culture throughout the company.
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United heralded one of the most important days in its history with airport banners, buttons and caps for employees, and cake and coffee for everyone.
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The start of United's Boeing 777 service between Washington, D.C. and London on June 7, 1995, was commemorated with bag tags and lapel pins.
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Promotional flyers publicize the benefits of flying "Shuttle by United". United's low-cost, no frills service was launched on Oct. 1, 1994.
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