Is Reich unfamiliar with the concept of bid and ask being distinct prices?
I guess he could also say the screamingly high price made it possible for a rich fellow like him to get a ticket and shut out the rabble who couldn’t pony up the money.
It’s up to the airline what to do. People do not always react totally logically to astounding price run-ups in disaster situations, and are known to hold grudges, and share stories that engender grudges, that a vendor might not want. For public relations sake the airline might have had a lottery for the last few seats, if tariffs permitted (which is a whole nother story). But nobody can, or ought to be able to, force them to if they don’t so choose.
Sorry, I’m failing to be appalled at Reich’s speaking fees, but I am appalled at the airlines profiteering on people’s desparate efforts to get out or get home. The two situations are hardly comparable.
How dare airlines make a profit by fulfilling a need! How dare they ration supply in a time of high demand by changing the price! Whoever heard of such a thing? Why, it’s almost as if they were tryong to maximize satisfaction at both ends. Everyone knows they should maximize the satisfaction of one passenger—whoever happens to be eriting an article later—at the expense of everyone else.
If you think it’s “unfair” or “exploitative” blame God or nature. The airline didn’t make the weather. Otherwise, assuage your sense of justice by not buying a ticket. On the bright side this is refreshingly frank. If only they’d always admit they prefer some undefined state of fairness to efficiency. Usually they pretend their policies are more efficient in addition to following some novel form of fairness.
This is the usual argument against ‘price gouging’ in times of disaster. But of course the more prices are gouged, the more incentive there will be to get the scarce product or service to those in need despite the adversarial circumstances.
Waiting 'til the last minute can be very expensive, whether it's buying airline tickets, hotel reservations, concert tickets, etc. The storm just magnified this truth.
The law of supply and demand is simple, how does Reich not know about it?
If you could get out for $300, you'd have a mess.
Believe me, after listening to 30 minutes of Reich's socialist blather -- up close and personal -- I would gladly buy a plane ticket to Podunk to escape having to listen to him speak!
“I couldn’t help think this was a miniature version of the America we’ll have if Mitt Romney is elected president.”
Well, shouldn’t Mr. Reich be happy about a miniature version of America, where he can finally reach the top shelves in refrigerators?
Also, if the prices were too steep for him, perhaps Mr. Reich could have negotiated with the airline for a better price, if they stowed him in the overhead compartment.
Just pissed because they always ask him if he’s flying unattended.
First, if someone had already purchased the ticket, they wouldn't have had to pay $4,000 for a seat.
Second, the $400 bump fee is mandated in law. Customarily, airlines also refund the full cost of your ticket when that happens - at least on Southwest.
Third, what reservations system allows 47 overbookings?
I think that he made it up as a class lesson in mythology.