FINANCEHYPE: Cutting Costs the AA Way

Back before the days of $130-a-barrel oil, airlines were worried about more mundane things. Cutting costs was always a priority, however, and one of the best in the business was Robert Crandall. He was the CEO of American Airlines (AMR) from 1985 to 1998, and not too long ago was interviewed as part of a special report on the airline by MSNBC.

Here's a short excerpt of his views on how to cut costs. I won't spoil the story, which should be required viewing for any business student, but I will present the dramatis personae:

• A station manager at a small island in the Caribbean
  
• A night watchman
• A guard dog

Mr. Crandall, apparently, is available to speak at your function for a fee in the neighborhood of USD 15,000 - 20,000.