Apparently two wrongs really do make a right...

Delta and Northwest filed Bankruptcy the other day virtually simultaneously and at the same court house. If this doesn't set your spidersense tingling then you shouldn't be in business... Now I read this article and know that I'm not alone in my thinking. I loathe the way bankruptcy courts protect companies that are failing. Northwest appears to have run their company into the ground due to incompetence. On the other hand, Delta actually tried to work their way out of the problem and delayed bankruptcy proceedings last year. They are, in essence, being penalized for not declaring bankruptcy while their competitors did. Delta wasn't able to slough off millions of dollars in debts the way that United and US Airways have. US Airways is actually emerging so strongly that it is able to merge with America West.

Now we see that Delta and Northwest (two companies now in bankruptcy, remember) may actually be able to merge successfully and come out stronger. Where's the justice? Bankruptcy shouldn't be a competitive tool in the same mold as opening a new branch or closing an unprofitable plant. Not that I feel particularly sad for those people that loaned money to the airlines in the form of unsecured loans... That's just stupid... but it still gauls me that Delta was, in essence, encouraged to prematurely declare bankruptcy...