It’s all about bankruptcy

Excuse me? Congressional leaders are being hailed as geniuses for asking to see a reorganization plan before handing over billions to U.S. automakers?

Isn’t that what the bankruptcy courts are for? Let’s ask Frontier Airlines. The Denver-based carrier is still flying, working its way through restructuring, and just posted quarterly figures showing its cost per seat mile at the lowest in company history despite record fuel costs during the quarter.

But to get there, the company has had to give up some less-efficient jets and less popular routes. Maybe the CEOs of the Big Three just couldn’t find a seat on a commercial airline traveling from Detroit to Scare City to plead their case before the geniuses.

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