Checchi And Balances

I found Al Checchi's statement that Northwest Airlines was such a ragtag operation that "we had to change the management" rather interesting ("KLM-Northwest: Three years and barely aloft," Cover Story, Aug. 24). Interesting in that he purchased an airline that had a history of 30-plus years of profitability, owned all assets, had no debt other than what had been created to stave off a takeover, and had never laid off any of its employees.

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