It's going to get worse

To Gerard and all the other CEOs of airlines: Its going to get worse - a lot worse.

Oil is going to keep going up until people consume less oil. I doubt that is going to happen before oil reaches $150 a barrel. Which might happen this summer. I'd put money down that it'll happen by the time winter heating oil becomes an issue. Doubting me? I know you read Bloomberg, but read beyond the title page and ads for new yachts. Margot Habiby has great analysis.

So, start your restructuring plans that are based on preserving as many jobs as possible. This includes paring down those obscene salaries of higher management. Hint: look closely at anybody making over a half a million. I bet they can make due with less. If half the world can live on less than $2 a day, I think these CEOs can figure out how to survive on half a million dollars.