RT @SamRo
"United’s rewards card program with JPMorgan Chase is valued today at $22 billion. But United’s market capitalization is $16 billion, meaning investors are assigning negative value to the part of its business that flies airplanes. The same goes for American and Delta." @semafor
@kairyssdal Financial services (the Chase card): predictable risk, high profit.
Operating an airline: unpredictable risk, unpredictable profit.
I’m glad we have airlines, but I’d much rather have a piece of the credit card business.