'Duh!' of the day: United loses $544 million betting on the fuel market
Filed under: Borrowing, Extracurriculars, Transportation, Travel, Recession, Bankruptcy

United Airlines, which has a management as sharp as a box of hammers and aging seating about as soft, thought it could imitate Southwest by getting into the hedging game, too. But, whoops! Timing is everything. It got in way too late, as the market prepared to peak. Prices went down. And right now it's paying almost $13 more a barrel than oil is actually worth, which could rack up as much as $544 million in boneheaded, unnecessary losses.
It's a lot like the guy down the street who bought his house a year ago for $400,000, only to find in this self-correcting market that it's now worth about $250,000, which everyone in the neighborhood knew was a more realistic price all along. He intended to flip it, but now he's got to live in it. Of course, if gas prices go back up a bit, United's loss may be mitigated slightly.
I hadn't called my favorite pizza place in a while because I've been making my own (it's cheaper and I've been trying to eat mostly organic food). But I was going out for the night, leaving my husband alone with three boys, so I called Rudy's and ordered the best deal: the $9.99 medium pepperoni pizza.
As a student of history, I often wonder what it would be like to live in another era. I imagine myself, fedora-clad, smoking my way through the 1930's or perhaps wearing something in a nice olive green and smoking my way through Europe in the early '40s. Alternately, I could even see myself in a slick sharkskin suit and thin tie, smoking in an office in the 1950's.