Merger talk is all just fun and speculation, rumor and conjecture. BB has repeatedly said no to any talk of a merger, and while he can say one thing and then mean another to a pilot group, his saying it essentially to investors means a lot. Investors do NOT like surprises, analysts do NOT like surprises and this airline, more than any other I can think of is investor driven. So, I would take BB's word on the merger talk, although anything shocking could happen.

Not sure how a merger would happen, but you're right, it probably wouldn't be good. You only have to go to the legacy merger threads to see how much enjoyment is there.