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...line owes some $300 million to banks led by New York's First National City. The thrust of the airline's argument is that its problems are not of its own making. Fuel costs alone have more than tripled since last October, from 11? to 35? per gal. on the average and even higher in some places; fully 94% of Pan Am's fuel is bought out of reach of any U.S. price controls. Pan Am's transatlantic passenger volume, badly hurt by withering purchasing power in the face of worldwide inflation, is down 23% this...

Author: /time Magazine | Title: AIRLINES: Pan Am's Case for Subsidy | 9/23/1974 | See Source »

...summit" of top Government officials, corporate executives, labor leaders, bankers and economists, which will convene around Sept. 25. Meanwhile, the President and his aides are taking a new look at all sorts of policy proposals. Two old ideas resurfaced to make headlines last week: raise gasoline taxes 10? per gal., or $ 10 billion a year, to reduce energy consumption and help swing the federal budget toward a surplus; gradually lift price controls from domestic crude oil to further discourage energy use. Neither proposal is likely to be embraced by the President at a time when slowing price rises...

Author: /time Magazine | Title: Business: Worsening Ills, Re-Thought Ideas | 9/2/1974 | See Source »

...automakers will be loosing a herd of new "small" cars, some of which will be longer and heavier than a Mercedes 280, with which Ford executives like to compare the Granada. Not especially economical, Ford's two entries this week average at best 14 miles per gal. in city driving...

Author: /time Magazine | Title: Business: The Battle of the Little Big Cars | 8/5/1974 | See Source »

...necessary to meet the bankers' demands. Not only would taxes be increased but, in a nation of wily evaders, a withholding tax would be introduced, thereby increasing the number of known taxpayers from 5 million to an estimated 14 million. Gasoline prices would be raised to $2 per gal. In defiance of Common Market practice, Italy had already imposed severe restrictions on imports...

Author: /time Magazine | Title: ITALY: Facing a Crisis in the Dark | 6/24/1974 | See Source »

...fuel will cost drivers 2? or 3? per gal. more than leaded regular gas, and General Motors executives, in a rare difference of opinion with the oil industry, have questioned whether the price premium is necessary (oil chiefs say that refining costs make it so). The American Automobile Association, traditionally supersensitive to anything that could inconvenience motorists, worries that owners of 1975 cars in many rural areas will have to drive long distances before coming across a station big enough to be selling unleaded gas. AAA officials also fear that many stations that do carry the new fuel will...

Author: /time Magazine | Title: FUEL: The No-Lead Era | 6/24/1974 | See Source »

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