Word: frontier
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...weeks after the revolutionary no-frills airline announced that it was looking to sell part or all of its operations to fend off bankruptcy, People found the buyer it needed. People's five-member board declared that United Airlines, the largest U.S. commercial carrier, would pay $146 million for Frontier Airlines, the Denver company that People picked up only last November. The same day, People's board rejected as "inadequate" an offer from Houston's Texas Air to buy the entire airline for $9 a share, a sum that some analysts estimated to be about $240 million...
People might have stayed out of financial trouble had it not been for Burr's $305 million purchase last November of Denver-based Frontier Airlines. Frontier, a conventionally priced, full-service carrier, was already battered at its hub by competition from Texas Air subsidiary Continental and from United. Burr's Denver foray violated one of the initial ingredients in People's formula for success: offer no-frills travel in areas away from heavy competition. Says Burr in retrospect: "When we bought Frontier, our competitors decided Denver was going to be a battleground. It still...
People speedily turned Frontier into a no-frills carrier. Unfortunately, that move just as speedily alienated the Denver airline's traditional customers. Frontier's competitors, especially Continental, responded with discounts of their own, and Frontier's amenities were soon restored--but not until the airline underwent a bashing that still continues. Says First Boston's Derchin: "They now feel they have People Express on the ropes. They're not going...
Biotechnology is an exciting new frontier, but it has developed without clear rules on how to regulate activity that tinkers with the basics of organic life. Last week President Reagan changed that. He signed a 475-page set of guidelines laying out national policy in the biotech field that says, in essence, no new regulations are required to deal with the biotechnology explosion. Instead, the main thrust of the Administration's effort will be to cut down on costly problems of overlapping federal jurisdiction. One reform: new biotech products may now pass for inspection through two federal agencies simultaneously rather...
...Reagan chose to remake the high court shares many of his roots and values. Like Reagan, Rehnquist left his boyhood home in the Midwest to head for the Far West, where he embraced the frontier verities of rugged individualism and a respect for law-and-order. The son of a paper salesman, Rehnquist grew up in the quiet Milwaukee suburb of Shorewood. After serving three years in the Army Air Corps during World War II, he used the G.I. Bill to go to Stanford. Graduating first in his class from Stanford Law (a classmate was Sandra Day O'Connor...