9/11 20th Anniversary
James E. Goodwin
(United Airlines CEO on 9/11)
The Official Story
JAMES E. GOODWIN
(United Airlines CEO on 9/11)
James E. Goodwin retired in 2001 as Chairman and Chief Executive Officer of UAL Corporation, the parent corporation of United Airlines, an international air transportation company. Mr. Goodwin has 34 years of operational and management experience in the airline industry. Mr. Goodwin currently serves as a Board member of AAR Corp.
United Airlines, Inc. (commonly referred to as United) is a major American airline headquartered at Willis Tower in Chicago, Illinois. United operates a large domestic and international route network spanning cities large and small across the United States and all six continents. Measured by fleet size and the number of routes, it is the third largest airline in the world. It is a founding member of the Star Alliance, the world’s largest airline alliance with a total of 28 member airlines. Regional service is operated by independent carriers under the brand name United Express. United was established by the amalgamation of several airlines in the late 1920s, the oldest of these being Varney Air Lines, which was founded in 1926.
United has eight hubs, with Chicago–O’Hare being its largest in terms of passengers carried and the number of departures.
September 11 Attacks
During the attacks of September 11, 2001, two of the four planes hijacked were United planes. One aircraft was N612UA, a Boeing 767-222 operating as United Airlines Flight 175, flown into the South Tower of the World Trade Center. The other was N591UA, a Boeing 757–222 operating as United Airlines Flight 93, which crashed in rural Pennsylvania after the passengers fought back against the hijackers, and was suspected to have been directed towards the United States Capitol building, according to the DHS.
SUSPECTED INSIDER TRADING
Some conspiracy theorists maintain that just before 9/11, an “extraordinary” amount of put options were placed on American Airlines and United Airlines stocks and speculate that insiders may have known in advance of the coming events of 9/11 and placed their bets accordingly. An analysis into the possibility of insider trading on 9/11 concludes that:
A measure of abnormal long put volume was also examined and seen to be at abnormally high levels in the days leading up to the attacks. Consequently, the paper concludes that there is evidence of unusual option market activity in the days leading up to September 11 that is consistent with investors trading on advance knowledge of the attacks.
—Allen M. Poteshman, The Journal of Business
This study was intended to address the “great deal of speculation about whether option market activity indicated that the terrorists or their associates had traded in the days leading up to September 11 on advance knowledge of the impending attacks.”
In the days leading up to 9/11, analysis shows a rise in the put to call ratio for United Airlines and American Airlines, the two airlines from which planes were hijacked on 9/11. Between September 6 and 7, the Chicago Board Options Exchange recorded purchases of 4,744 “put” option contracts in UAL and 396 call options. On September 10, more trading in Chicago saw the purchase of 4,516 put options in American Airlines, the other airline involved in the hijackings, with a mere 748 call options in American purchased that day.
No other airline companies has unusual put to call ratio in the days leading up to the attacks. The 9/11 Commission Report concluded that “Exhaustive investigations by the Securities and Exchange Commission, FBI, and other agencies have uncovered no evidence that anyone with advance knowledge of the attacks profited through securities transactions.” The report further stated:
Highly publicized allegations of insider trading in advance of 9/11 generally rest on reports of unusual pre-9/11 trading activity in companies whose stock plummeted after the attacks. Some unusual trading did in fact occur, but each such trade proved to have an innocuous explanation. For example, the volume of put options — investments that pay off only when a stock drops in price — surged in the parent companies of United Airlines on September 6 and American Airlines on September 10 — highly suspicious trading on its face. Yet, further investigation has revealed that the trading had no connection with 9/11. A single U.S.-based institutional investor with no conceivable ties to al Qaeda purchased 95 percent of the UAL puts on September 6 as part of a trading strategy that also included buying 115,000 shares of American on September 10. Similarly, much of the seemingly suspicious trading in American on September 10 was traced to a specific U.S.-based options trading newsletter, faxed to its subscribers on Sunday, September 9, which recommended these trades. These examples typify the evidence examined by the investigation. The SEC and the FBI, aided by other agencies and the securities industry, devoted enormous resources to investigating this issue, including securing the cooperation of many foreign governments. These investigators have found that the apparently suspicious consistently proved innocuous.
A false flag is a covert operation designed to deceive; the deception creates the appearance of a particular party, group, or nation being responsible for some activity, disguising the actual source of responsibility.
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(of a stimulus or mental process) below the threshold of sensation or consciousness; perceived by or affecting someone’s mind without their being aware of it.
NO PLANES = WHAT HAPPENED TO THE
UNITED AIRLINES PASSENGERS?
9/11 GHOST PLANES
NO PLANES HIT THE TOWERS
The CGI planes of 9/11