Word: cabs
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There was small comfort for air travelers in four Civil Aeronautics Board crash reports issued last week. They seemed mostly to indicate the diversity of ways in which people can be killed while flying. The CAB findings...
...puller is Pierre Perrin, 32, a onetime government clerk whose marriage to Brigitte Bardot's movie stand-in broke up in 1958. Despondent, Perrin tried suicide (poison and gas). On recovering, he took his psychiatrist's advice to drive a cab in Paris for the therapeutic value. Annoyed by gabby passengers, Perrin responded to their chatter with the same contemptuous wisecrack: "Mais tout (a ne vaut pas un clair de lune à Maubeuge" (But all that is not worth the moonlight at Maubeuge)-a retort all the more effective in that Perrin had never set eyes on Maubeuge...
...enigmatic Industrialist Hughes for two solid years, the Civil Aeronautics Board last week grudgingly authorized his Hughes Tool Co. to buy 56% of Northeast's outstanding stock from New York's Atlas Corp. The consideration that finally turned the tide in Hughes's favor, said the CAB in its caustic decision, was "not whether Hughes Tool Co. could provide efficient management, but whether Northeast would have any management...
...last year and currently reports a "net worth deficiency" of $23.4 million. Merely to keep the line alive is certain to cost Hughes many millions more. And by decreeing that transactions between Hughes Tool Co. and Northeast may not exceed $100,000 a year without its specific approval, the CAB seems to have ruled out a lucrative trick that Hughes used to practice with Trans World Airlines: buying planes through Hughes Tool and then reselling them to the airline at a profit...
...shares (78.29; of the line's outstanding stock) that edgy creditors forced him to put into a voting trust two years ago. If he can pull hapless Northeast out of its difficulties (which will not be easy), it will be increasingly awkward for the bankers and the CAB to hold to the line that Hughes is too erratic and inefficient a manager to be permitted...