Giving up how old I am now... I recall vividly in the 80's a ad in a NY newspaper looking for pilots with a commercial license. The company was Eastern Airlines. In the NY area, recruiters actually came out to the local airports looking for people. I recall other "major" airlines at the time having similar ad's in the help wanted sections, albeit Eastern's was the lowest I ever saw. I don't think we will ever see that again, but I would not be surprised seeing the right seat of a heavy having a pilot that had the ink still wet from his commercial ME ticket. It happens in other countries, why not here?

if/when this does turn around, I see the 90's coming back. That is where a 4 year degree was required and a Masters was preferred. Add some serious TT and PIC as well to even be near competitive. I don't see these companies opening up the flood gates and letting every ipod, backpack totting fool in. Competition will be stiff initially as there will be more applicants that jobs. Thus, a cadet program could be the preferred way. There is a lot to be said to start the training from the way THEY want it versus retraining everyone. Either way, if/when it happens, it is surely going to be interesting.