That is the reason LUV longterm will mop up the floor with these bereft hub and spokers. You'd never see management pull the kind of crap that Carty did at American. None of these other airlines will be able to engender the trust that Southwest management has with its employees. All the bankruptcy and restructuring in the world can't build a company that will be a match for LUV.
In the immortal words of the last 5 station managers, "This [department] is a low-trust environment." It is THE one envirnoment that is a thorn in their sides so much that it forces them to leave one way or the other. Let's see what stuff the newest manager brings to the old deck of cards; see if he can tame the regime led by the King of diamonds or Jack of clubs. Interesting to see how long he lasts.
The only difference between Carty and Kelleher is that Herb steals out from right under your noses and Carty was just a sneaky bastard about it.
Help me out, how many options did Herb cash out in '01? Wasn't it something like $40 million worth? In '02, during the worst airline depression in history, he managed to excercise options in the $1 to $2.50 range. A mere 852,560 shares worth $13,943,075. He now has 3,794,903 exercisable options ready to rock for another $35,287,255. In the ongoing executive gravy train, 185,281 options are not yet vested.
Is that the "culture" you are talking about? I won't even go into Coco's options packages. She makes more than Parker, for God's sake. The way she cashes out options along side of Herb, you would think they were married!
STEAM COMING FROM YOUR MOONIE EARS THAT I WOULD DARE EQUATE KELLEHER WITH CARTY??? They are the same guy. The only way that you become rich with airlines is to be at the top. You'll all learn that eventually. As shareholders, you sure as hell won't get rich by buying this stagnant company at a 70X P/E.