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Drew Dorweiler
Drew Dorweiler's Professional Specialities: Business Valuation, Litigation Support, Sports Business Consultant, Corporate Finance, Mergers and Acquisitions, Fraud Examination, Radio DJ, Band Manager
Drew Dorweiler's Professional Specialities: Business Valuation, Litigation Support, Sports Business Consultant, Corporate Finance, Mergers and Acquisitions, Fraud Examination, Radio DJ, Band Manager

Drew's posts

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Excellent article by Chris Mercer on the impact of the proposed Trump tax cuts on the valuation of private companies (conclusion: positive and substantial)

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Fascinating look at MLS expansion candidates, with detailed insight into pros and cons of each city

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The market outlook for hockey equipment in China is immensely promising:

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Make America Great, Boycott United

Holman W. Jenkins, Jr., The Wall Street Journal

United Airlines has long been, forgive the rudeness, kind of a dumb company.

Remember it was United in the mid-1990s that got the bright idea, in a business that routinely yielded no profits or capital appreciation, of handing employees 55% of ownership as if this would improve employee incentives.

Employees were not dumb, though several other adjectives come to mind.

Leading the buyout was a pilot’s union chief who told his members their approach in running the company would not be to kill the golden goose, but just to “choke it by the neck until it gives us every last egg.”

Though pilots were major shareholders in the company from 1994 until its 2002 bankruptcy, they never tired of trying to extort untimely pay increases by engaging in undeclared, illegal work slowdowns. Over eight days in 2008, one such action caused 329 flights to be canceled and left 36,000 travelers stranded when healthy pilots called in sick.

So much for changed incentives. The same tactics passengers may also remember for 2000’s “summer of hell,” and even from 1993, when United’s workers were still trying to buy the airline. Think about it: Employees hoped to take over a company by destroying its reputation with customers.

Usually we try to avoid anthropomorphizing a business corporation. Businesses have “cultures” but they are not immutable. Personnel change. Management changes. Market conditions change.

United had plenty of defenders when, in 2005, this column saw an overdue test case of whether the U.S. bankruptcy system still served the larger good of society or was merely a means to preserve zombie companies for the benefit of organized labor. United at the time was the latest of a series of carriers to use the bankruptcy court conveniently to shuck off debts and other “legacy costs” so they could return to the marketplace and make life difficult for competitors still struggling to honor their obligations.

Let United be liquidated rather than reorganized, we suggested at the time. Let United become a well-deserved sacrifice so the rest of the industry could have a chance at profitability.

The response was a flood of email from United employees suggesting a variety of unnatural acts with office supplies. United pilots in particular seemed to be under the impression that columnists still use typewriters, though their suggestions were impossible.

All this we offer as background for the latest seminal outrage, which has the feeling of an important national moment.

OK, it’s a mistake to assign excessive representative value to such situations, but sometimes businesses need to be punished for the health of society. Are Americans going to stand for this? Are they going to let so prominent and symbolic a company treat them this way? A few peeps of boycott protest have emerged. Let this become a national moment of renewal.

We are currently drowning in suggestions that America has become a country of body parts that Donald Trump once grabbed with impunity. Such is the theme of economist Tyler Cowen’s resonant new best-seller “The Complacent Class.” So let the United boycott take off. Let United become a brand name of infamy that one day will be remembered as the stimulus for a national turnaround.

Boycott the airline. Burn a few effigies. Don’t actually kick a United gate agent in the teeth but perhaps design the corresponding emoji.

While we’re at it, what’s wrong with Chicago airport security? Did not a single officer say, “I’m having no part of this. If United can’t deal with its overbooking mistakes in a civilized, non-cheapskate way, how is it my job to manhandle innocent customers?” This also smacks of our national malaise—police who need an armored personnel carrier before they’ll roll up and serve a warrant, who wait outside Columbine High until they’re sure the shooting has stopped.

Donald Trump voters, you wanted to make America great again. This is your chance. Boycott United.

@united #BoycottUnited #UnitedAirlines

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More sickening @united misconduct: this time it's a 94-year old Grandma. Following Dr. Dao & @united POISONING me on a 17-hour flight. I shall never fly this disgraceful airline again. Why should you subject yourself to this insulting treatment? #BoycottUnited

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How did United Airlines get into this mess? The most recent globally-visible case was the brutal treatment of a 69-year old doctor who was senselessly bumped from his confirmed seat and given a concussion, broken nose and missing teeth when he declined.

There is a worldwide legacy of deplorable conduct by United Airlines that has gone on for years. I travel extensively globally (with Star Alliance Gold status) and wish to highlight my experience with United Airlines in February 2017 where I was the victim of FOOD POISONING in the United Lounge in Newark prior to a 17-hour flight to Hong Kong. Sheer misery. On my return, a segment of my flight was cancelled due to "weather" on a day where it was sunny and dry both at departure and destination airports (plane not sufficiently full perhaps), and I was rebooked on a flight that left over a DAY LATER with my luggage arriving FOUR DAYS LATER. As a result, I had to cancel several days of business meetings.

When I requested compensation from United Airlines, they treated me with complete disdain, accusing me of fabricating the food poisoning claim, disclaiming all responsibility, and after lengthy correspondence with their Customer "Care" reps, was only given a $250 certificate.


@united #UnitedAirlines #BoycottUnitedAirlines

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The FORBES 2017 Major League Baseball valuation list is out!
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