Despite Labor Pact, UAL's Future Remains Uncertain

Updated from 9:10 a.m. EST

If at first you don't succeed ... negotiate all night long until something gives.

The tactic paid off for UAL (UAL Quote), which announced it had reached a new wage-cutting agreement with the International Association of Machinists. IAM rejected a similar proposal last week, raising the specter of bankruptcy for the second-largest carrier and sending its shares plummeting. They rebounded Monday and were recently up 36% to $3.32. ...