Word: bermudas
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...billion, Ludwig continues to expand his shipping-based business colossus into new areas. Besides his National Bulk Carriers, Inc., which with 49 vessels operates one of the world's largest tanker fleets, Ludwig's interests now include ranching in Venezuela, mining in Australia, and resort hotels in the Bahamas, Bermuda and Acapulco...
From the look of it, Veteran Actress Jacqueline Bisset is finally in over her head. During six weeks on The Deep, a new movie based on Author Peter Benchley's tale of treasure hunting off Bermuda, Bisset has spent much of her time in scuba gear under 80 ft. of water. Apart from some nasty jellyfish stings, the actress's worst moment came during a subaqueous scene with Co-Star Nick Nolte that called for her to lose her mouthpiece and head for the surface. "His bubbles came up from beneath me and I couldn...
...talks beginning next month in London, the British aim to rewrite the so-called Bermuda agreement. That pact, originally signed in 1946, sets the ground rules for commercial air traffic between the U.S. and Britain and is also the model for bilateral air agreements that the U.S. has with more than 60 other countries. The British have several demands, including rights to add new U.S. cities, notably Atlanta and Houston, to the ones that British Airways now serves -New York, Washington, Boston, Philadelphia, Chicago, Detroit, Los Angeles and Miami. Most important, the British want to be given, by bureaucratic fiat...
Within the limits of the existing Bermuda agreement, the airlines of both nations are free to schedule as many flights as they think they can profitably fill. (American flights are subject to review by the Civil Aeronautics Board and the State Department.) U.S. carriers-Pan American, TWA and National-now account for some 60% of total airline capacity between the U.S. and Britain. The British want to change this mix to equal shares-not by increasing the number of their flights but by getting Washington to force U.S. airlines to cut back. The British thus want to replace the Bermuda...
...airline executives are outraged. Says Thomas Taylor, TWA's Washington vice president: "The U.S. Government should tell the British to shove it." They reject London's argument that the Bermuda arrangement has encouraged the overcapacity that results in a year-round average passenger load of less than 60%. They also dispute the British assertion that a cut in total flights would improve all the airlines' earnings; indeed, under such an arrangement the hard-pressed, unsubsidized U.S. carriers would certainly lose. U.S. airlines point out that far from having more than a fair share of the business...