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A Great Read about Delta’s Attempts at Fuel Hedging…And How It Led to A Huge Loss

I realize that this doesn’t sound like the most interesting subject, but a CNBC reporter has written a book about commodities traders (seriously) and it includes chapters about a man hired to head up fuel hedging at Delta (with a $1 million signing bonus).

This excerpt from the book talks about how he went from earning more than $400 million in profits for Delta in one year, followed by him being subpoenaed as the government believed that he was both personally profiting from his Delta trading and racking up hundreds of millions of dollars in losses for the airline.

Well worth a read…

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