RE: TWA
In my view, if they can't compete, they should disappear and make room for others who may. It's best to let bad businesses die and find a better use of resources, i.e., why throw good money after bad? In this case, absent of Gov't pressure, I've no qualms with a private business scooping it up pennies on the dollar. It's just the free market at play here, in my view.
Of course, the C-suite not only must make decisions in the best interest of shareholders, but also a fiduciary duty to do so. As a consumer, I couldn't care less about DAL shareholders, I care about me, which is the position, in my view, my Gov't should take. I want the best flights at the best available price, and I can't have that without vigrous competition.