Word: americans
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Dates: during 1950-1959
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...Mosier, 61, executive vice president in charge of operations, is a big, sugar-voiced barrel of a man, who bosses the biggest operations setup in the industry, spends 70% of American's dollar. A onetime barnstorming pilot, football coach and city manager, Mosier was hand-picked by Smith in 1938, is gearing every part of American's operation to such jet-age innovations as new fuel supplies (the jets eat up 2,000 gal. of kerosene per hour). American's 1,000 maintenance men must virtually relearn their jobs; the jet training manual alone consists...
...most thoroughly flight-tested and debugged air transport ever to go into service, had 50,000 flying hours as a military tanker and commercial prototype before the first plane was delivered to American. The pilots are delighted with it-although their wage demands for the jet age may ground some of the airlines before the fight is over. The pilots insist that the third man in the jet cockpit be a pilot instead of an engineer (TIME, May 5), want more money ($45,000 a year for a Pan American flight captain v. $25,000 now) on grounds that...
Perhaps the most serious problem for American and the other lines is the vanishing U.S. airspace. A jet moving at an average of ten miles a minute will require an air cocoon of 6,000 square miles 2,000 ft. deep for safety. Jets will reach heights formerly monopolized by military planes, will need precise traffic controls to keep them on their separate ways. Last summer Congress belatedly created a new jet-age federal agency, the Federal Aviation Agency, which will supplant the old Civil Aeronautics Administration on Jan. 1, take over safety-regulations functions from the Civil Aeronautics Board...
When word first circulated on Wall Street in October 1957 that a plan was being considered to broaden public ownership in the company, the nonvoting common stock was selling for about $175 a share on the American Stock Exchange. It has risen steadily since then and closed at $445 a share the day before the plan was announced. Next day it scooted up 40 points to close at week...
...nation's largest independent telephone company, General Telephone Corp. has been eclipsed by American Telephone & Telegraph Co. only because next to A. T. & T. any other corporation would look small. But General Telephone is a giant in its own right. Last week it planned to grow bigger. Its directors approved a deal, subject to stockholder approval on both sides, for General Telephone to take over Sylvania Electric Products Inc. on a share-for-share trade. The result: $1.5 billion in total assets, 76,000 employees...