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Strategies & Market Trends : Mu Gamma Lambda
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To: SmoothSail who wrote (7933)9/24/2001 4:17:43 PM
From: Original Mad Dog  Read Replies (1) of 10077
 
Message 16385603

I think the reasons are:

1. To not let the terrorists win.
2. To avoid the economic dislocation caused to a handful of companies with nearly a million employees whose business is necessary to the servicing of virtually every business out there in one way or another. The ripple effect of those bankruptcies might cause a lot more damage than people realize. It might make airlines uninsurable, it might make them unable to obtain funding or debt instruments, and ultimately might make the whole business untenable financially. All because of a few yahoos with box cutters.
3. The airlines have always had a close relationship with the federal government, including cooperation in times of military need (for example, the Persian Gulf War troops were transported on commercial aircraft which the military can access in times of need)
4. The salaries of those CEO's are what the market has determined. Yes, you can take them away, and the high salaries of all management away. And if you do, you will get people whose other career opportunities are as night cook at the local Denny's. Do you want airlines run by people with skill and talent or by people who can't get the rest of corporate America to hire them?

I do not agree with bailouts by the government generally. But this is different.
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