Word: kinney
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Dates: during 1960-1969
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...shifts. But the auto birth rate has soared so high, the crush for parking space has become so great and the cost of building and operating parking garages has grown so fast that the business is now dominated by big chains. When one of the biggest of the chains, Kinney Service Corp., last month was admitted to the New York Stock Exchange, the financial world saw the move as evidence that a fender-banging, slightly shady trade had finally matured into a full-fledged industry. Parking spaces now generate about $500 million in revenues throughout the U.S. each year...
Official Support. Perhaps the best sign of maturity is that the parking chains are now nearly as attentive to cost accounting and technological change as are the Detroit automakers whose products they park. The typical parking space, Kinney has discovered, must turn over 1½ times daily just to break even. One extra car a day parked at each garage in a chain operation can mean up to $100,000 in additional annual revenues. Such figures may please the financial men, but they do little to assuage the angry parker, who is usually convinced that he pays too much...
...building big garages roofed with tennis courts and athletic fields. To solve the land shortage (new buildings are eating up old parking lots), the University of Washington is integrating kids and cars in combined garage-dormitories. But Fordham University failed when it tried to call in the commercial Kinney System Inc. to run a $225,000 parking operation -price-protesting students chanted "Let the lot rot!" And just having rich alumni, as Harvard has, is no help. Who wants to put up a Memorial Garage...
...come right out of the Herald and News's ad accounts. Says Robert Penland, Herald and News publisher: "We're probably going to have to work a little harder." Even if he does, his new competitor will retain one distinct advantage. Robert Penland sells his paper; Joan Kinney gives her Independent away free...
...numbers, the giveaways break up the ads with news stories. But their editorial staffs vary widely. The San Francisco Progress, with a city distribution of 181,000-more than any of San Francisco's three big paid-circulation dailies -gets along fine with a staff of two. Joan Kinney in Livermore, on the other hand, pays the salaries of 13 editorial hands...