Warped Priorities
Reported by Judy - December 10, 2005
When I hear that a mentally ill person has been shot and killed by law enforcement authorities, the last thing I think of is how I can make a quick buck off the deal. That's why I'll never be a panelist on Fox News' "Bulls and Bears."
On Saturday (Dec. 10, 2005) panelist Gary B. Smith predicted that American Airlines stock would rise 25 percent after air marshals shot and killed a bipolar man who said he had a bomb in his backpack. The man's wife was following him as he walked off the plane and up the jetway as air marshals fired. I'm not arguing whether the shooting was justified or not. Since he did not have a bomb, however, the result is certainly tragic.
Smith, though, thought it showed America's strength. "I think it said the airlines and the U.S. are not going to settle for anything that even resembles a terrorist attack. I think that's great for the airlines, AMR in particular. I think it's another 25 percent upside," he said.
Just in case you're in a mood to call your broker, the other panelists disagreed with the predicted increase, but mainly because they believe airlines have too many other problems, such as high costs for jet fuel, and so on.
