Word: cabossed
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Dates: during 1940-1949
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...months as CABoss, Jim Landis had been as hard-handed on the big airlines as he was hardheaded to some of his associates. The big airlines had fought him because of his encouragement of small airline operators (many of them ex-Air Force pilots) in their development of air cargo service on unscheduled lines (about 80% of all U.S. air freight is handled by nonscheduled lines). His pressure on the big operators to adopt new safety measures had cost them money. This week, after he was out, came a safety report which might cost them more. Over Chairman Landis...
Divorced. James McCauley Landis, 48, leathery CABoss, onetime Harvard Law dean, onetime SEC chairman; by Stella McGehee Landis, 50; after 21 years, two children; in Salem, Mass. She charged that he had not returned home since he went off to Cairo on a Government economic mission...
...with the newer rates CABoss Landis intends to keep a closer watch on airline financing. Many lines have stubbornly chosen to go into debt to buy new equipment rather than issue stock and thus weaken the holdings of those now in control. From now on, CAB intends to seek more authority over line financing...
Deeply perturbed by this slump, CABoss Landis had other ideas for helping the weak flyers. Although CAB has not liked airline mergers, on the grounds that they cut down competition, Landis now suggested that mergers might be the best way to keep some airlines out of bankruptcy. More cheering was a strong hint that increases in passenger and mail rates might be in the offing. CABoss Landis sternly warned that "management inefficiency" would not be underwritten by subsidies or higher rates. But at week's end he ordered an investigation to see if current rates are "unjust or unreasonable...
...Hughes sat down last week to discuss a compromise with his onetime friend Jack Frye. Present at some meetings of the three-day peace conference was CABoss James M. Landis. He pointedly reminded Hughes and Frye that a major airline was something of a public utility which private individuals could not kick around with impunity. After a final six-hour session, Hughes agreed to lend T.W.A. $10,000,000 (through his Hughes Tool Co.) and back Frye's plan to authorize a new issue of 2,000,000 shares of T.W.A. common stock...