Word: braniffs
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Democrat Blakley has served in the Senate since January, when he was appointed to fill Johnson's seat. A craggy-faced Dallas businessman, he is a major stockholder in Braniff Airways, owns huge hunks of real estate, three insurance companies, a cattle-and-oil ranch, a bank and a shopping center; his net worth runs about $200 million. In the Senate, Blakley bucked the Administration by voting against Kennedy's depressed-areas bill and emergency feed-grains program...
Only a brief interlude of truce interrupted the battling. In 1946, CAB certified Braniff International Airways to fly into South America. Faced with the threat of this new competitor, Pan Am and Panagra joined forces to squeeze Braniff out. Pan Am refused to let Braniff use its airport facilities or communications systems; Panagra warned its personnel not to fraternize with Braniff employees, even bribed a junior official for copies of Braniff's passenger manifests...
...Merger? When Braniff's competition proved to be small, the truce ended. Grace once again tried to break Pan Am's strangle hold on Panagra's operations. Charging Pan Am "with every conceivable obstructionist tactic," Grace in 1951 petitioned CAB for a Miami tie-up between Panagra and National Airlines. In a bristling counterattack, Pan Am accused Grace of seeking the tie-up only because of its holdings of 174,000 shares of National stock...
...constant warfare between the combatants, the Government filed an antitrust suit in 1954 against all three for conspiring to monopolize air traffic between the U.S. and South America. Real purpose of the Government's action was to separate Panagra from Pan Am to facilitate a merger with Braniff. In his 70-page opinion, Judge Murphy dismissed the charges against Grace and Panagra, thus cleared the runway for a possible Braniff-Panagra merger...
...contradictory attitudes toward the Electra represented the ambiguous position of Braniff-and other airlines-in the face of rising concern about the plane. Egged on by its lawyers, Braniff was trying to collect damages for the crash. At the same time, Braniff was working with Northwest, National and American Airlines to counteract public worry over the plane's safety, sending out "truth squads" of pilots who are sold on the Electra...