Tuesday, August 07, 2007

Wanna buy an airline? USAirways hoax: August 7th, 2001

I think I mentioned this last year... but if The Deal can reuse it, so can I. What is important about August 7th? The real anniversary of the Internet? That ranks up there. The day the US invaded Guadalcanal? Also noteworthy. But also this is the anniversary of when the: Mystery buyer of USAirways was discovered as a hoax. One Emil Bernard was supposedly planning an $8bil offer to buy USAirways despite having no known assets other than a house in NJ. I think we would have called that a leveraged buy out.

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