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On today's edition of "MarketFoolery," the new daily podcast from The Motley Fool:

Southwest Airlines (NYSE: LUV) has cancelled hundreds of flights as it conducts safety inspections on its aircraft. How will safety concerns affect the image of the "Bags Fly Free" airline? And since it manufactured the aircraft in question, should Boeing (NYSE: BA) be under the microscope as well?

Remember when Transocean's (NYSE: RIG) Deepwater Horizon rig exploded in the Gulf of Mexico last year? It turns out that Transocean handed out bonuses to its executives because 2010 was "best year in safety performance in our company's history." Our analysts attempt to make sense of the worst corporate PR blunder we've seen in a while.

And did you happen to catch our special edition of "MarketFoolery" last Friday? We'll give you the background on our April Fool's Day podcast and share a few emails from listeners.

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For all the news and numbers about your favorite companies, you can create your personalized version of My Watchlist, free from the Fool. Just click to add Southwest Airlines to My Watchlist.