You asked if the non-wholly owned could compete. My answer was not company specific, but Republic was the first to do it. If an airline can't afford to pay it's pilots a competitive wage, then they can't staff their airplanes. I don't think any of the airlines would have been so quick to renegotiate CPA's if Republic was smaller. My opinion is that in a few years we will only have wholly owned and one or two large regionals left.