I was a teenager when it went through but I remember a number of pilots asking very pointed questions, including questions on why 55% ownership only entitled the employee owners 3 of 12 seats on the board. I think a lot of United people felt like they were in a corner, with Wolf, the financiers, and even union leadership extorting hundreds of millions in exchange for career security. I don't remember a bunch of celebrating even if Greenwald made things seem better. No doubt anything was better than Wolf, and those were pretty exciting times for United, lots of international expansion, SFO and dot com wealth, new 747s. Good times, but not because of the ESOP in my memory.