Word: avco
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Cord Into Avco...
According to Avco, the company is paying Mr. Cord no cash and "less than 140,000 shares of stock" ($2¾ per share last week). Avco receives about 30 Stinson planes (all tri-motors except three or four) which have been flying between St. Louis, Chicago, Detroit, Toledo and Cleveland; between El Paso and Los Angeles; and between Sacramento, San Francisco, Los Angeles and San Diego. Also it receives Century's new hangar and shop at Chicago Municipal Airport, valued...
...permission. The Century lines east of Chicago will also be erased by American Airways, which withdrew long ago from that highly competitive section. But the western coastwise service will be retained, to join American's southern transcontinental line at Los Angeles. Total new mileage acquired: 553. By accepting an Avco directorship, Motormaker Cord agrees not to engage in other air transport operations for two years. But he sees his position as a manufacturer materially strengthened. Although Avco denied that it was bound in any way to buy more transports from Cord's Stinson factory, Mr. Cord was confident that airmail...
From Mr. Cord Avco also took over a labor problem. Last winter he reduced pilots' wages, came into conflict with the Airline Pilots Association, affiliated with the A. F. of L. (TIME, Feb. 22). The 23 pilots of Century Air Lines quit (they charged a "lock-out") and service was interrupted until a "strikebreaking" crew was trained. By the sale to Avco a complete operating personnel of 350 is thrown out of work. Last week, in his apartment in the tower of Manhattan's swank Waldorf-Astoria, Mr. Cord intimated that the pilots (about 50 including Century Pacific's) would...
Other administrative changes in Avco have followed the election of La Motte Turck Cohu to the presidency. He was also made president of American Airways. And to succeed Vice President Hainer Hinshaw of American Airways was elected Col. Edward Vernon Rickenbacker. Also made a vice president was Avco's able little publicist, Silliman Evans...