Word: freighting
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...airline industry has soared far past the railroads in the passenger business, but so far it has been low and slow on freight. Of all cargo transported in the U.S., 43% is still carried on the rails, only 1% in the air (trucking gets 23%, shipping 15% and pipelines 18%). So it was a neat move last week when the Flying Tiger Line, the nation's biggest all-cargo airline, reached into railroading's highest corporate ranks to name Wayne M. Hoffman, 44, the No. 2 man at New York Central, as its new board chairman. In making...
...million, while multiplying its profits nearly threefold to $12.1 million. What makes the record all the more impressive is the fact that the airline was founded in 1945 on an investment of $180,000 and a rickety fleet of eight Budd Conestogas. Briefly called the National Skyway Freight Corp., it took its subsequent name-and many of its top personnel-from the legendary Flying Tigers, volunteer American pilots who flew for China early in World War II. Disbanded as a unit 25 years ago last week, most of the Tigers began ferrying supplies for the China National Aviation Corp...
With Prescott, now 54, still its president, Flying Tiger expects this year's revenue to reach a record $100 million. Nonetheless, the company's fortunes remain creased with uncertainty. For one thing, the fact that air cargo is much higher-priced than surface freight leaves it vulnerable to more severe effects of economic slowdowns. Making the business even more unpredictable is the heavy dependence on Government contracts. Flying Tiger's first big business came when it landed a six-month Government contract for hauls to Ja pan in 1946; later it profited in a major way from...
...hardest hit is Britain, which ordinarily gets two-thirds of its oil from Arab sources. The British have started printing gasoline-rationing coupons as "a precautionary measure," last week gave oil companies the go ahead to raise petroleum prices. Meanwhile, oil companies have been chartering every available tanker, lifting freight rates for Persian Gulf-to-Britain shipments to $19 a ton, a 350% increase in less than a month...
...fearing a leveling off of bus travel, began searching for new uses of Greyhound's cash. His first bet became a bonanza. For $14.7 million in stock, Greyhound bought San Francisco's Boothe Leasing Corp., which had been earning $400,000 a year mainly by leasing railroad freight cars and locomotives. Ackerman began buying jetliners-and made money when the credit-shy airlines started cashing in on the jet age. The subsidiary's earnings have zoomed 1,300%, to $6.2 million...