"Here We Go, â€˜Round Againâ€¦"
Front page, center, USA Today on Tuesday, August 8:
"Airlines to add year-end capacity. Fliers could see relief from rising airfares."
Lord, Lord. They finally make a profit, after all of the bad years, and the first thing they do is raise capacity (that means adding airplanes, of course)! Who was it who said that the airline industry canâ€™t stand prosperity?
The USA Today article states that "decisions to add seats generally reflect greater optimism in the industry about its prospects for making money."
Does anyone remember what Warren Buffet said about the airlines way back in his annual report to stockholders for 1992? "We have no ability to forecast the economics of the...