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Nice insight into problems facing American Airlines

The Stengel Angle

I grew up in Bethlehem, Pennsylvania, somewhere that probably does not ring a bell to most people. However, if you’re at all familiar with the steel industry, you might recognize the name Bethlehem Steel, once the second-largest steelmaker in the United States. Founded in 1857, Bethlehem was a titan that had large influences on the steel industry, like shipbuilding during World War II and the mass production of the ubiquitous I-Beam (which placed the company as the leading supplier to the construction industry and led to the skyscraper era).

Unfortunately, if you know the story of Bethlehem Steel, you also know about their demise. Plagued by the increasing market share of cheaper foreign steel in the U.S., mismanagement, and labor issues, the company closed its iconic Bethlehem plant in 1995, declared Chapter 11 bankruptcy in 2001, and finally sold all remaining assets to the International Steel Group in 2003. According to

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