This may be the single nastiest thing ever written about WN management. According to Chief Executive magazine, Gary Kelly is the 3rd worst CEO in the country for destroying his shareholder's wealth.

http://www.chiefexecutive.net/ME2/di...E9E1913E50C156

I don't think he deserves this, because his stewardship of the company has not been bad. That said, I can't say it's been exemplary, either. And his shareholders have truly suffered (although a lot of shareholders are suffering these days).

WN's problem now is its terrible fuel hedging postion for 2009 and 2010. Quite a turnaround from the past 2 years -- when all the other airlines had this enormous financial headwind, and WN had a great tailwind. I've always said WN's hedging was more luck than skill, and now it looks like the luck has run out. How Kelly manages this difficult time for the airline will perhaps determine whether he is ultimately viewed as a hero or a goat.