Why Warren Buffett Is Betting On Airlines

Berkshire Hathaway CEO Warren Buffett has avoiding investing in airlines, even calling the industry a "bottomless pit" in a 2007 letter to investors. But now his company is plowing more than $1 billion into the four largest U.S. airlines.

Here & Now's Peter O'Dowd speaks with Curt Nickisch (@CurtNickisch) of Harvard Business Review about what the move tells us about the airline industry.