If there's any good news, I don't think today's economic enviroment is anything like what we experienced in 2008. I know that's what everyone fears, but two major brokerage houses failed, AIG and the banks were bailed out, and the economy had been losing jobs all year.

Today, US banks are in ok shape, the economy is adding a small number of jobs, and oil prices certainly aren't as high as they were in 2008. It's not great, but short of some wild event, I have a hard time imagining furloughs like we saw then. Whether we want to believe it or not, a whole lot of pilots are about to start turning 65.

Not trying to be an optimist, just not trying to be a pessimist. It still seems just as likely AA may be playing hardball.