Grounded on Wednesday

Airlines are taking a hit lately, first with 9/11, now with the high fuel prices from Katrina. Delta, my favorite carrier, filed for bankruptcy today. They were joined by Northwest. Currently, 50% of the airline seats in the U.S. are on bankrupt carriers. The federal government needs to look at the issues and find a way to shore up this industry. After all, airlines are critical to commerce. Markets did NOT take the news well. NASDAQ was hit the hardest, falling 1%... ouch. Dow -52.54 NASDAQ -22.42 S&P 500 -4.04