Word: frye
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...morning last week T.W.A. President Jack Frye put in a call from Kansas City, Mo. to a T.W.A. official in Washington. Frye had heard that Howard Hughes, principal owner of T.W.A., was about to make a big announcement. Frye wanted to know what it was. The official did not know...
...Well, anyway," said Jack Frye, "I can make a pretty good guess myself-and I think I'll beat him to the draw...
...bright future as long as T.W.A. prospered. But when T.W.A. was crippled by a pilots' strike, Lockheed suffered immediately-through T.W.A.'s cancellation of orders for eight new Constellations. And when T.W.A. was ripped by a refinancing ruckus between No. 1 Stockholder Howard Hughes and President Jack Frye, Lockheed was hit again...
Last week T.W.A. Board Chairman T. B. Wilson resigned. In the airline's offices, higher-ups were quoting odds that Frye would soon follow suit. No one had more cause to worry than Lockheed. T.W.A. has put in a big order for Lockheed's new Constellation 649, under a contract which binds Lockheed to offer the first 18 of them to T.W.A. But T.W.A. can refuse the planes, one by one. Thus Lockheed is bound to sweat commercial blood as long as T.W.A.'s troubles continue...
...loan could keep T.W.A. flying along for a few months, but it still needed at least another $40,000,000 to pay for new equipment on order and get back into smooth air. (The price of T.W.A. stock, which held its own while Hughes and Frye were battling, fell 2⅞ points the day after they came to an agreement...