Word: ansett
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...names are more familiar in Australia than that of Reginald Miles Ansett. It beams from the side of airplanes, buses and trucks, from 20 resort hotels and motels, and from the signs and billboards of 70 companies. Ansett owns them all-together with other assorted properties that make up an $85.5 million empire. Last week Ansett's ubiquitous name flickered onto Australian TV. In Melbourne he opened a $9,000,000 Ansett-owned station, Channel Zero. He has bought into others in Brisbane, Sydney, Adelaide and Perth...
Fight the Government. The base of Ansett's empire is aviation, which produces about 62% of his income. Ansett owns eight airlines in Australia, which together constitute the biggest private aviation enterprise in the Commonwealth. Blocked by vast wastelands from easy travel on land, Australians fly enthusiastically for both business and pleasure. Last year the country's planes flew 3,000,000 passengers, and the load is expected to increase another 20% this year. Competing with government-owned Trans-Australia Airlines, Ansett flew more than half the national total in his 100-plane fleet, which ranges from small...
...pilot, he started out on the ground. In 1931 he set up a country jitney service with a secondhand Studebaker, did so well he soon had twelve cars. But the government refused him a franchise to operate into Melbourne because he was competing with government-owned railroads, and Ansett defiantly went airborne; no one seemed to care about the air. He bought a Fokker Universal, grandly painted "Ansett Airways" on its side, and began flying between Melbourne and Hamilton. He also took passengers along on stunt flights at $3.50 an hour...
Fire the Chairman. Ansett had in creased his fleet to seven planes by the end of World War II, but by then others saw opportunity in the air. The government set up Trans-Australia, and a private firm formed Australian National Airways. When the banker who served as Ansett's board chairman suggested that he sell out to competing Australian National, Ansett fired him, eventually bought out A.N.A. himself for $6,700,000. When the government ordered him to raise fares along with Trans-Australia, Ansett stubbornly refused and forced a backdown. "I've got a kind...
...only eleven have some degree of Australian ownership. But the Aussie who invests in a domestic company can make handsome profits on his own. In a land that is turning out its own diesel engines, railroad cars, jet aircraft and transistor radios, stocks are an investor's dream. Ansett Transport Industries, Clyde Industries (engineering), Broken Hill Proprietary Co. Ltd. (steel) are all up 50% in a year, while Colonial Sugar Refining has jumped 70% and Rothmans Ltd. (cigarettes) a whacking...