nelson schwartz wrote about it for the paper and he joins us. nice to have you here. >> great to be here. >> how is it different now for airlines focusing on profit than it was, say, five or ten years ago? >> everyone remembers all the bankruptcies and the consolidations and equity holders literally being wiped out. the airlines are new companies now, essentially. and they've remarketed themselves to wall street as a very different kind of investment. so it's a very cyclical industry where you don't cover your biggest cost necessarily, you don't know what it's going to be, fuel. but the airline have kind of said to the street, look, we're going to deliver year-in, year-out steady profits, steady growth, and you can rely on us the way you would on an industrial company or a utility. that puts tremendous pressure on the airlines to deliver what the street expects. >> what about the pay structure for executives? in the past it was very different for the airline industry than it was for some other large scale perhaps more mainstream type companies.