Ted

Do you know Ted? I'm referring to the low-cost subsidiary of United Airlines. I've been aware of Ted since they started-up but I think this trip to Vegas was the first time I've ever actually flown Ted. Anyway, it got me thinking about the parallels between United seeing the need to start another airline (separate brand and all,) in order to lower their cost structure to compete with the growing list of low-cost airlines in the market, and some of my ideas around starting a new on-line credit union, separate brand and all. I'd like to study the subject a little more to see why some of the traditional airlines decided to create separate, low-cost airlines instead of simply lowering their existing cost structures so they could compete with the established low-cost airlines. I'm sure they had good reasons, many of them are probably relevant to our business. While we don't have the union issues the big airlines have, we certainly have an established base of customers where many might not appreciate working with a "low-cost credit union" even for the better rates. Hmmmmm...