The Skies Over Bankruptcy

The big transportation news from today, reported widely in the major newspapers, is United's emergence from bankruptcy. The Washington Post offers a particularly revealing article on the role United's Chairman played in creating a fitter, leaner airline. Although he eliminated the pension plan, fired thousands of employees and cut salaries, apparently he enjoys some popularity (though not among the flight attendants) due to his affable demeanor and ubiquitous presence at airports and company offices--where he gives pep-talks and explains that what appears like a "sacrifice" is in fact an "investment" in the company's future. Has this guy considered politics? Critics are doubtful that United's bankruptcy troubles are over--citing high fuel prices and severe competition from Southwest and JetBlue--but for now the airline's recrudescence, however short-lived, gives us reason to smile.