Word: frye
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Cohu, like Jack Frye before him, had flown into a squall with T.W.A.'s controlling stockholder, Howard Hughes. Cohu asked Hughes for complete authority to run the line, and had suggested that Hughes put his stock into a trusteeship which Cohu could control. Hughes refused and there was nothing left for Cohu to do but get out. Cohu was reportedly set to take a top job with Consolidated Vultee Aircraft Corp. Likeliest bet to succeed him in T.W.A. was Lieut. General Harold Lee George (ret.), who ran the ATC during the war, and until recently bossed Peruvian International Airways...
...Jack Frye left the presidency of TWA amid predictions that it would become a "Toonerville airline." It refused to buy new equipment, canceled the order for 18 Constellations which expansive Jack Frye wanted. Howard Hughes, who controls TWA, thought that what the airline needed was efficient economic operation of the planes it had. To get it, he put La Motte T. Cohu in as TWA president...
...profit rose to $884,000 in the third quarter, promising a gross business of $78,000,000 in 1947 (against $57,000,000 last year). That started Cohu thinking about new planes. Last week, about ten months after Frye left, TWA ordered twelve new Connies. The line's once bad credit had improved enough so that some 14 banks put up the $15,000,000 to pay for them. TWA had not yet flown through all the rough weather. But the air was smoother than it had been for years...
T.W.A. Boss Howard Hughes, who got tired of hearing Frye say no, has no yes-man in Cohu. Though a close personal friend of Hughes and a T.W.A. director since 1933, Mot Cohu has decided opinions about how an airline should be run. He intends to cut out what he calls "the fancy gadgets" and overlapping services, steer the company along more conservative lines. He believes that T.W.A. expanded too fast and too far, frequently questioned Frye's enthusiasm for developing overseas routes at the expense of domestic service...
Most airmen guessed that Cohu would not have as free a hand with the airline as Jack Frye had. Hughes had come close to losing control of his line once, and he was smart enough not to take that chance again. By virtue of drastic payroll cuts Hughes had pushed through-and the spring increase in airline traffic-T.W.A. was doing much better than last winter, when it lost $1,000,000 a month. It hopes that this month it may even break even...