Well...with fuel prices soaring and too many planes in the sky, something has to give. It must be real tempting for the folks on Smith St. to create an Excel spreadsheet, sort stations by profitability and close all bases not profitable. Given the network externalities, it won't work out quite this way, but you get the picture.
On a historical note...I vaguely remember seeing a sign for the Presidents Club at MDW airport maybe 10 years ago. Was not a member at the time, so did not visit. Is this just my brain remembering too many airports, the old MDW terminal reminded me of SJC and DCA, or or was there ever at PC at MDW?