Originally Posted by
MikeFromMKE
Are you not familiar with capitalism? This is basically the premise... Companies making money stay in business and companies that aren't go out of business. Until Republic bought them, Midwest was a failing company.
The course of American in the last 10 years is not what made this country great. Our culture has changed from one based on customer service, manufacturing, technologically developement, ... to one of...
Individual greed, financial leveraging, corporate mergers to save money on duplicate functions, Wall Street gambling in derivatives, government growth,...
TPG/NWA bought Midwest to block the growth of AirTran. Midwest losses were small like many airlines after 9/11 (except Southwest with some great fuel hedging) until TPG changed the accounting system for tax reasons. This became a private investment companys stripping cash and capturing some federal tax write-offs.