Word: largest
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Dates: during 1980-1989
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...same period last year. Finally, said Donald Burr, 45, People's founder and visionary chairman, "we had to do something." Last week Burr did. In a tersely worded statement he announced the possible upcoming sale of part, "or under certain circumstances even all," of the country's fifth-largest airline, which had 1985 revenues of nearly $1 billion. Thus came to an uncomfortable reckoning, if not an end, an experiment that in only five years of low-cost, no-frills travel profoundly shook up the U.S. airfare structure and challenged the longtime dominance of the major airlines...
Because of cheap fares, red ink has flowed more widely across the skies than coffee, tea or milk. In the first quarter, United Airlines, the largest U.S. carrier, lost $103 million. TWA did even worse, dropping $170 million. Long-troubled Pan American, which sold off its Pacific routes to United for some $750 million last year, lost $118 million. Indeed, in the entire U.S., only three sizable airlines showed a first-quarter profit: Southwest, which squeezed $7.1 million into the black; American ($4.2 million); and Aloha ($1.8 million). Says Michael Derchin, an airline expert for the First Boston investment firm...
...some trimmed-down form. Says Peter Lynch, manager of the Fidelity Magellan Fund, which has invested in People from its inception: "They may have to abandon Denver and shrink their company by a third." Nonetheless, he adds, "they're still in a dominant position in New York, the largest market in the country...
When petroleum was still a pricey commodity, Texas oil barons had little trouble getting loans. But as the value of oil has plummeted in recent months, the state's banks have watched in alarm while many borrowers were unable to make payments. Last week InterFirst of Dallas, the third- largest Texas bank holding company, said that it expects second-quarter loan-related losses of at least $260 million...
...NEVER FEEL the same way about a one night stand after you see Letter to Brezhnev, a little-publicized sleeper from the British Isles now in limited release around Boston. The story of two young women from the gray, depressing city of Liverpool where the largest local employer is a chicken processing plant, Letter focuses on Elaine (Alexandra Pigg) and Theresa's (Margie Clark) quest for adventure and escapist relief from their normally drab lives...