Historically, airlines have sought to maintain goodwill among their passengers by providing them with some compensation or refund.

[Two thoughts. First, savvy investors have long ignored the cost of goodwill amortization in valuing a company (many prefer cash now).] It's just cosmetics, ... If companies soar in value for the sole reason of this accounting change, I would take advantage of it and sell those stocks.

It's one of the few times that consumers have the upper hand.

The travel industry is very interested in building up this holiday season travel market. Part of the reason, of course, is that right now is really a dead time of year for business travel.

Brian's progressed a lot from last year. He's come a long way and he's running the ball now.

As far as the operation of the airline is concerned, almost nothing changes. People keep buying tickets, the airline flights operate as usual, and travelers would be hard-put to know that the bankruptcy ever happened.