We’ve all seen the video countless times, right? Jackbooted thugs pulling a poor doctor out of his seat on a United flight from Chicago to Louisville, bloodying his face along the way, just because United needed to get some pilots to a flight in the Bluegrass. The resulting social media uproar, much of it presumably conducted by people who only take one flight a year (and that’s on Allegiant or Spirit—final destination: Las Vegas), ended up costing United 4 percent of its company value, or a whopping $770 million. Ouch. Warren Buffett personally lost $52M as a result of the decline. (This is the same market which values Tesla as being worth more than Ford.)
Of course, it’s completely obvious to anybody with half a brain who was in the wrong here—and it’s not United.