United Airlines Lost a Billion Dollars This Morning

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The most important story of the past 24 hours—by a mile—is the guy who was dragged off an overbooked United flight yesterday by a security team. The details are still a little sketchy, but the YouTube video is awesome and the guy has an actual scratch on his face. The Chicago PD officer who dragged off the passenger has been suspended, and United’s president has apologized. Luckily for social media, he apologized in kind of a ham-handed way that gave the incident a whole new cycle of snark on Twitter. So far President Trump hasn’t weighed in, but give him time. He might get bored and decide later today to nationalize UAL.

In the meantime, Felix Salmon wants us to believe that this hasn’t hurt United’s stock price. Hah! What a corporate shill he is. Behold the chart below:

That’s about $1 billion in market cap right there. This is the power of Twitter and Facebook, my friends.

On the bright side for UAL, this will probably last only a day or so, sort of like Donald Trump’s random taunts at companies he doesn’t like. Tomorrow some other airline will do something outrageous and we’ll all vow never to fly them ever again. I’m pretty sure most of us have vowed never to fly every airline at some point or another, but since they all suck we don’t have much choice, do we? And they all overbook. And they all ferry their crews around on their own planes. And they all call security if a passenger won’t follow crew orders. This particular passenger just fought back a little more intensely than most. And people with cell phones were around.

Bad luck for United. Really, it could have happened to any of the fine holding companies that control the surly skies of America these days.

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THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

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