Was I dreaming listening to Bob Crandall on re-regulation this morning. Bob was a probably better insulated from effects of de-regulation than many airline employees. I worked for TWA, which after 3 bankruptcies and assumption of pension obligations by the Pension Benefit Guaranty Corporation, was bought by American Airlines. Having worked for TWA, Digital Equipment Corporation and AT&T/Lucent, regulation appeared to produced stable jobs that allowed employees to support a family and contribute to their communities in ways that people are challenged to do currently. As a customer, flying was certainly a more pleasant and predictable experience under regulation. As an employee shareholder of all three corporations, I experienced some quite exciting, dramatic ups and downs and ultimately lost way more money than I ever imagined I could afford to.

How would the deregulation work this time around? What would be the major similarities or differences? The world is a lot different than when we had deregulation before....

I swear I heard on "Marketplace" that the airline industry has LOST money since its deregulation in the '70s. Isn't that a pretty clear case for re-regulation or nationalization if the entire industry has lost money since deregulation?