Just read the following, posted at 3:51 p.m. CST, on rec.travel.air:

"I just returned from Legend's Dallas terminal to get my electronic ticket for Wednesday converted to paper. The folks working the counter told us that the airline filed for chapter 7 bankruptcy this morning.
They hope that will make them look better to investors who might want to BUY the airlines for 34 million."

I find it very odd that employees would be authorized to give out this information before any press release has been issued. I've searched, and I can find no news since yesterday.