Freehills:
Survivorship bias. We think Victorian engineers built well, because the stuff that still stands was obviously built well. The ****ty back to backs, bridges etc. that fell down or needed to be replaced, you don't see anymore.
Same should happen to ****ty companies like BA. The goal of management and the Board when I studied for my MBA was "maximise the value of the business
in the long term". Short term thinking (bonus grubbing) was to be eschewed.