Word: ackerly
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Dates: during 1980-1989
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Among the airlines, Pan American World Airways reduced its loss from $112 million to $56.2 million, and Chairman C. Edward Acker predicted that the company would make a profit during the current quarter. Declining passenger traffic and cut-rate fares pushed income down for other carriers. American Airlines saw earnings tumble 98% to $466,000; Trans World Corp. posted a 27% decline to $41.6 million; UAL, Inc., parent company of United Airlines, suffered a 36% slump to $5.5 million; and Delta saw profits shrink 52% to $23 million...
...dusty lane, where lines of limousines deposited their elegant passengers. As the silent movie era gave way to the talkies, and Hollywood's business and glamour grew proportionately, the residences of its stars became more lavish too. There was the Hollywood Hotel, where Rudolph Valentino married Actress Jean Acker and spent his honeymoon. The Garden of Allah, which opened with an 18-hour party, was a haven for writers including F. Scott Fitzgerald, Robert Benchley and Dorothy Parker...
...sold its headquarters building in New York City and made $294 million. Last year it sold its profitable chain of Intercontinental Hotels for $500 million. To sharpen a sagging management, Pan Am's board of directors encouraged William Seawell to retire last year and named C. Edward Acker, then the boss of Air Florida, as new chairman...
...Acker still hopes to pull Pan Am out of its tailspin. The airline may begin subleasing its office space in the Pan Am Building and is considering moving its headquarters to Miami or some other city, where costs are lower. It may also chop more employees from its payroll; it has already let go 4,000, leaving 30,000, and cut salaries 10% across the board. Finally, Pan Am is trying to sell two of its Boeing 747 jumbo jets, although finding buyers is tough. Insists Acker: "We have over $200 million in cash. We are a long, long...
...have been charging for even their economy-class tickets. But suddenly, Sir Freddie finds that he is facing stiff competition from one of the very airlines that his cutthroat pricing policies had siphoned business from in the first place: Pan American World Airways. Under its new chairman, C. Edward Acker, the loss-plagued air carrier has decided to go all-out to fill its planes and boost revenues. Thus Pan Am announced earlier this month that it will offer regular coach seats across the North Atlantic for a mere $261. Other major carriers are following suit...