It's almost always more interesting — from the outside perspective, anyway — to see a plan fall apart than it is to see it come together.
That's what we got Wednesday when Spirit Airlines shareholders declined to approve a multibillion-dollar merger with Frontier Airlines. It's pretty unusual for shareholders to buck the desires of the executives and directors, but the teams at the top of the two airlines were trying to close the deal amid escalating hostile takeover bids for Spirit coming from…
