The market for pilots and other airline professionals is soft, and that's an understatement. They played it down to the wire, but there is still hope for Delta, and we will see what happens next few months.

This is like a thousand-piece puzzle, and you only have put two pieces on the table. Who knows what the rest of it is going to look like?

The settlement clears the field. Regulators have dealt with the corporation and now they can focus their efforts on Greenberg.

The airline industry has a horrendous history in Chapter 11. Those who do not learn from history are doomed to repeat mistakes, and in the airline industry no one learns from history and always repeats mistakes.

The New York routes out of LaGuardia are part of the crown jewels of the Delta system.

It's the old game of chicken, and it comes down to who blinks first. This is an all-bets-off scenario.

It's a razor edge that the union is walking now.

Something has to give, in the sense that somebody has to go,

Fighting it one-by-one is good for Merck because it's a huge operation. They have tremendous resources and it's a legal war of attrition.

The parties have to stand pat. You need a court order that hasn't arrived yet.