With some programs potentially going under, and many definitely reducing mile value, wouldn't it make sense for one airline to run a good promotion.

For instance, if AA ran a program inviting elite UA FFers to get comped, and get..say...100k for highest level, 50k for next, etc. if people fly 12 segments. They might steal some top UA business when it is at risk, earn some income on the flight segments, and give away declining value miles to people who probably have so many, they rarely use them.

As a marketer, I can say, if everybody expects, accepts and acknowledges that FF miles are going down in value, the programs will see this, and figure it is a good time to do just this. It is self-fulfilling. You never want to introduce changes that go against the prevailing attitudes, but right now, I'm not sure they would be too uncomfortable making the changes.

I still believe that FF miles, if used correctly (and that is a big "if"), can be the salvation for some airlines.