Summit Notebook

Exclusive outtakes from industry leaders

Audio – Bad is bad


Trying to compare one recession or economic downswing to another is a little like trying to decide which hurricane was the worst.

I mean, if you were sitting in the middle of Hurricane Katrina, it’s not going to matter too much if Hurricane Hugo’s winds were 10 miles an hour faster. They both weren’t a lot of fun.

So it was on Tuesday when Doug Parker, chief executive of US Airways Group, tried to distinguish between the current recession and previous ones. No one wants to be too close to the eye when the howling starts.

Parker, speaking to the Reuters Travel and Leisure Summit in New York, said this slowdown is bad — as was the one in 2001-2002, although for diferent reasons.