Word: delta
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After a marathon bidding session for the prime pieces of the bankrupt Pan Am, the spoils went last week to the most low-profile of the Big Three U.S. carriers: Delta. The Atlanta-based airline bested its rivals with a $1.7 billion bid for assets that will put Delta on a par with megacarriers American and United. Delta will acquire Pan Am's Northeastern shuttle, its North Atlantic routes and the airline's strategic hub in Frankfurt. Pan Am will survive as a shadow of its once mighty self, providing service to the Caribbean and Latin America. But Delta will...
...roller-coaster career curve is hardly unique. With the exception of a macho-arts maven like Steven Seagal, whose films routinely pick up an easy $40 million, nearly every modern star's box-office graph zigzags as wildly as an Axl Rose delta gram. Robert Redford and Clint Eastwood have dominated movies for a quarter-century, but their latest pictures have played in empty theaters. Robert De Niro, the most admired actor in films, went a decade after The Deer Hunter (1978) without a hit. Then he appeared in three commercial successes: GoodFellas, Awakenings, Backdraft. When Bruce Willis flexed...
Having tentatively stabilized TWA's finances, Icahn is bidding against industry giants Delta and United for choice Pan Am routes to Europe. He may have help from American, which does not want its large rivals to capture those assets. TWA could finance the deal by selling some of the routes to American and keep some to bolster its own strength. Icahn has always insisted that an executive with his own money on the line makes a better manager. Now he's got to prove...
...nation's youngest, best-educated and most productive work force. It has launched an aggressive economic development program to create new jobs at a rate of 30,000 a year. About 80% of these positions were started by local entrepreneurs. But Utah has also lured such companies as Delta Air Lines, Fidelity Investments and Sears' Discover Card...
...same time, though, travelers in some key U.S. markets clearly stand to gain from the consolidation. The northeastern corridor linking Washington, New York City and Boston, for example, has been served for the past few years by two financially shaky shuttle operations. That is about to change. Delta's purchase of the Pan Am Shuttle gives the Atlanta-based airline 52% of that traffic. Now Northwest is negotiating an agreement with Donald Trump's bankers, who have taken over his shuttle as part of his financial restructuring. In the coming months, travelers in the busy corridor probably will have...