Business Services Industry

Chicago Tribune David Greising Column.

Knight Ridder/Tribune Business News, November, 2002

By David Greising, Chicago Tribune Knight Ridder/Tribune Business News

Nov. 24--The government loan program that passed in those scary days after Sept. 11 is an easy target for criticism.

The program had the potential to become an unprecedented, direct bailout of an entire industry. It invited airlines to use taxpayer money to fix a host of ills that predated 9/11: costly management mistakes, greedy labor demands, unwieldy routes. The list goes on.

But let's face it. Congress passed the program into law. Congress authorized up to $10 billion in guarantees.

And if a carrier such as United Airlines takes aggressive steps to cut costs and restore viability as the loan program demands, then the board should do what Congress wanted....

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