The Economist, November 14, 2017: Criticism of index-tracking funds is ill-directed. Link
Bloomberg View, November 21, 2017: “Should index funds be illegal?” Link
NPR’s “Marketplace” with David Broncaccio, February 9, 2017: Interview with Mark Garrison from President’s Trump’s scheduled meeting with the CEOs of major U.S. airlines will likely bring up a long-running fight between American airline companies and competing carriers based in the Arabian and/or Pursian Gulf. Link
Large American carriers complain that they don’t face a leveled playing field with these competitors since they receive billions in government aid. It’s not at all clear where Trump will fall on this and other issues of concern to America’s biggest airlines. In light of President’s Trump “America First” motto, one might think he’ll here the concerns. Yet, he might also look at the whole picture. In the interview, I argue that the Gulf Competitors expanding their reach and landing in American airports, brings jobs to the local economy: from baggage handlers, to maintenance, from caterers to local airline agents, more business means more jobs, even if landing carriers are non-US carriers. NPR’s “Marketplace” with Kai Rysdal, November 15, 2016: Interview with Andy Uhler from, on why Buffett’s Berkshire Hathaway recently acquired shares of Southwest, American, Delta, and United airlines. “This was an odd move for someone who had decried the industry as hopeless,” “The question was why he did it—what’s going on with the industry?” Link
In the interview, I highlighted how the airlines have significantly reduced capacity over the last 10 years: All but Southwest have gone through bankruptcy, which allowed them to reduce capacity at relatively low costs, as carriers can rescind on leases and contracts, scaling down to a profitable size. And With reduced capacity and subsequent price increases, the outlook for the industry is more promising, which, along with consolidation, could explain Buffett’s interest in these airlines. For consumers, I noted it could result in more connections and higher prices.
“Strategy + Business” magazine, February 15, 2013: My paper on bankruptcy and product market quality was the topic of “Chapter 11’s Impact on Airline
“In It sounds like a weary business traveler’s sarcastic lament: Airlines run better when they’re bankrupt. But it turns out to be true, according to this study of the U.S. airline industry, which found that carriers reduced the age of their aircraft and trimmed flight delays and cancellations while operating under Chapter 11 bankruptcy protection. Bankruptcy gives a bounce to operational improvements, but not for long.”