They do not use shanks. They used them on their 270 degree welted Executive line, due to the nature of the construction, but when they quit making those, the shank went with them. They have never used shanks in their regular 360 degree welted shoes. Some people spot the fiber heel tuck that is located in the heel area of the cork cavity. This isn't a shank, it is there to provide a medium for the serrated nails to grip when they drive the nails in from the bottom up during heel base attachment. Most other Goodyear-welted shoes nail their heels on from the inside down (going through the heel area of the insole). That is one of the reasons that all other companies have 3/4 length heel cushioned sock-liners. They have to cover up and cushion your heel against the nail heads. This isn't necessary with AE due to the way they build their shoes.
Just curious, when a shoe is 270 degree welted, what process is used to hold the rest of the shoe in-place (assuming the non-welted part is the part that goes around the heel)?