They did. They were just the c- students. There’s not enough margin to encourage the really slick biz school grads to throw their fortune in with any airline, and there’s not enough opportunity for financial trickery to pull the real geniuses into the gig. Why come here and skim a million or two off the top when you could go to state street or blackrock or vanguard and skim 10 million a year?

We aren’t recruiting the best and brightest for executives. We know it and they know it, which is why they are even more entrenched. They’re not the smartest and it scares them which is why they are even less likely to push boundaries or accept help from outside their professional bubble.