Revisionist history is all well and good, but if Frank Lorenzo's Texas Air had failed in its bid to acquire Continental, Continental would have failed almost immediately. And if Lorenzo/Texas Air/Jet Capital had realized the scope and depth of CO's troubles, he would never have bought and saved them.
He actually saved CO twice- once, when he bought it, and again when he had the foresight to file bankruptcy while the line still had acsh with which to resume its operations viably (a bankruptcy which was forced, BTW, by the IAM).
There is no doubt that he lost sight of the priorities after the EA aquisition (or, more realistically, when he opted to acquire EA), but there would not be any CO without Lorenzo.
And all the re-hired FL people would not have had their jobs.
And ditto the PE PEople.
Frank is no angel, but he's far from the devil he's accused of being. And (FWIW) when my wife worked in the executive offices at Smith, he was polite to the help... unlike some of the other people there.
...three miles from BRONS, clear for the ILS one five approach...