Kevin O’Leary on Spirit Airlines Shutdown: ‘Let Losers Die’

EXCERPT:

VARNEY: “Kevin O’Leary with me this morning. All right, Kevin, do you think the government should intervene to bail out private companies like Spirit?”
O’LEARY: “Never, never. Capitalism works. America works. The economy’s worked for 250 years because the winners win and the losers lose. The protein is never lost, Stuart. Think of Spirit Airlines as a dead fish. It’s now drifting to the bottom of the ocean. The slugs will eat the protein and reprocess it into the environment, which is the economy. The reason Spirit failed, it was poorly managed. We don’t want to back up weak managers. These are losers. And when they get to zero, which Spirit did, the good protein left in the business is taken over by the better managers, the airlines that are actually — actually active. Those roots will be absorbed, those employees will be employed, the good ones. And so you’ve got this constant recreation of success. And that’s really what we have to stay on.”