Originally Posted by
Jeff Lebowski
I realize the analogy isn't 100% perfect, but as a blueprint of how a major American corporation integrated into the fabric of everyday life confronts an existential crisis, the GM bankruptcy and bailout is pretty instructive.
Just curious, why do you draw your analogy with GM and not Delta? Is it because they both took federal dollars as opposed to Delta? In that case, could American have possibly declined federal dollars and elected to go the traditional bankruptcy route? I understand this would lead to pain through the annihilation of labor contracts and would ultimately hurt all labor contracts across the industry. However, the airline bankruptcies from 2005 through 2013 ultimately strengthened the industry. Juxtapose that with the auto industry that was “saved” by the federal government but has struggled ever since. Just curious what everyone’s thoughts are regarding the best path forward. Maybe even discuss what should have been done differently with 20/20 hindsight.