Word: cabs
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Dates: during 1970-1979
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...lines will raise their percentage of filled seats above February's 48.5%, but that since the airlines will also get less revenue for each occupied seat, they will continue flying in the red. In taking that chance, the airlines are clearly changing their operating philosophy, and the CAB may be doing so too. For years, the agency has discouraged price cutting and approved fare increases willy-nilly, bringing itself under heavy political fire for being too cozy with the industry. But it quickly approved National's no-frills fare, perhaps indicating a new recognition that the best...
...listless nervous-breakdown farce, adapted by Neil Simon from his play about the traumas and indignities of living in Manhattan. Jack Lemmon, unwired and wrung out, appears as an lid executive who loses his job and proceeds to crack under all the usual New York tensions, from unruly cab drivers to walls that crack like eggshells, from vicious neighbors to violence in Central Park. Bancroft plays his wife, loving and impatient and reasonably brave, who sees him through the crisis and begins to pick up some of his anxieties...
...often tie up their whole lives with the corporation. When unemployed, they feel abandoned and have nothing to fall back upon. But entrepreneurs, however devastated by unemployment, are more flexible, more self-reliant." One of his patients, an unemployed entrepreneur, went out and found a job as a cab driver; an unemployed sales manager refused similar work because, Kiev says, "he didn't want to dirty his hands...
Only the stock purchase is likely to be controversial: although federal law permits foreign investors to own up to 25% of a U.S. airline, the CAB must determine whether ownership of 10% or more is in the public interest. Pan Am's current management will have to prove to the CAB that it will still make the decisions, even if Iran becomes by far the largest single stockholder. "It was very clear from the beginning that Iran did not want control of Pan Am," says George Ball, the senior managing director of Lehman Brothers and former U.S. Under Secretary...
...head-to-head competition on international runs, is now being put into effect. Seawell is also discussing the possibility of a merger with Eastern Airlines, American Airlines or TWA (which is having its own problems: 1974 losses totaled $23.6 million). At week's end Pan Am asked the CAB for authority to suspend much of its service in the Caribbean, where in the mid-1930s its globe-girdling expansion first took wing...