Wow, our Congress, one of the most powerful institutions in the WORLD, is now passing laws to ‘shame’ corporations. That’s good, because shaming is much better than holding criminals accountable…
In the wake of the deadly Southwest Airlines engine failure in April, federal lawmakers from both sides of the aisle have drafted legislation requiring air carriers to disclose the locations where all major repairs are performed.
“This is frustrating. Labor is being paid first again. Shareholders get leftovers,” Citi analyst Kevin Crissey wrote in a note to clients.
How dare the people doing the work get “paid first”! Don’t they know they’re working for the shareholders!!!
American Airlines is giving pay raises to its pilots and flight attendants, who have complained they are paid less that peers at other airlines. Wall Street isn’t happy.
There were 28 airlines in 1970, today there are 11, with the four major airlines dominating.
Like every other major industry in the US, the airlines have become uncompetitive. Over the past 40 years, mergers and buyouts have created massive conglomerates that control the majority of air travel.
High prices, overbooking, poor service, and few options are all results of airline consolidation. It is time to break the airlines up under anti trust legislation and put price controls on them.