While we can’t exactly have Doc Brown fire up the Delorean to change the past, the last four years have provided valuable lesson for Americans. Now more than ever we need leadership that is focused on creating jobs first and foremost. Fox’s David Asman and the power panel discussed this and more on Tuesday’s Power & Money.
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Airline bankruptcies are a tale as old as time. Southwest has lost a historical cost advantage it once enjoyed, as its labor costs per seat have risen by 32% while competitors have used bankruptcy to beat expenses down. Today, southwest’s labor costs exceed its competition by 10-20%. Unless they can collectively find a way to get passengers to pay more, labor is looking at a haircut, by cooperation or force. We discussed this and more on Tuesday’s Power & Money with David Asman.