I'm not saying that UAL will go bankrupt, or that I hope it will happen, but...
I will not be flying with them anytime soon (I didn't much care for UAL before 11.sep anyways, and that day didn't help matters of course). For X-mass, I booked with NWA, as I have had much better experiance with their European Operations anyways (Going home via NWA & KLM this year.)
Second point. If indeed UAL does go under, no, the rest of the industry will certainly NOT follow it (I assume you are reffering to the North American market). NWA & Delta are recovering nicely, and Continental is not far behind the pack. In fact I think this group will in some form or another replace AA & UAL as America's frontline carriers in the next 2 - 5 years, just as those two snatched that from PAA & TWA more than a decade ago. Not flamming, just calling it the way I see it.
Base not your happiness on the deeds of others, for what is given can be taken away. No Hope = No Fear