About Gary Leff

Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel - a topic he has covered since 2002. Co-founder of frequent flyer community InsideFlyer.com, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »

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In a case of shutting

In a case of shutting the barn door after the horses have already fled, President Bush declared that in signing the new accounting reform bill that “the era of low standards and false profits is over.” The markets have punished the offenders and are rooting out any other potential disasters. Of course, the President and Congress both feel the need to act — to do something — and more importantly, to appear as though they are doing something. Question of the week: can anyone come up with an example of the federal government being proactive? That is, recognizing the possibility of a problem, legislating, and then being proven right/have the legislation prevent the problem? I’d love to hear one.

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Vanguard Airlines is filing for

Vanguard Airlines is filing for bankruptcy. They were denied the $35 to $40mm in federal loans they were seeking. Thank goodness this airline is being allowed to die. They’ve been operating on less than $200,000 cash on hand for some time. They never had a profitable route system or strategy. Unfortunately, Midway Airlines wasn’t allowed to just die. It was in bankruptcy proceedings — for the second time — on September 11th. They suspended operations immediately thereafter. Immediately after 9/11 the feds gave direct cash payments to airlines based on previous year’s traffic to make up for time lost while the nation’s airways were shut down. Since Midway had been in the air the previous year, it got cash. The bailout funded the airline’s ability to get back in the air. It was unfortunate, because…

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Bob Novak reports on what

Bob Novak reports on what he calls a smoking gun which proves that IRS audits are used as a political tool. Novak reports only on Democratic uses of the tool, because the e-mail in question came out of the Clinton White House. It’s worth noting that the Republican Congress exercised its power in the same way. Often Republicans and Democrats in Congress cut deals across the aisle to audit each political faction equally, which is how I understand that Citizens for a Sound Economy came to be audited some years back.

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