Word: lorenzo
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Dates: during 1980-1989
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Gomez is not the only one wondering what is going on in the sprawling, demoralized empire controlled by Eastern's corporate parent, Texas Air. Over the past two years Chairman Frank Lorenzo has fashioned a ragtag collection of disparate and sometimes dying carriers into the largest U.S. airline company (1986 revenues: $4.4 billion). Besides Eastern, Texas Air runs Continental, which has absorbed New York Air, Frontier and People Express. All told, Lorenzo and his lieutenants oversee 628 jets and 72,500 employees, ferrying 94 million passengers (roughly the combined populations of France and Spain) on more than 1 million flights...
...velvet-voiced airline captains say in their understated way, Texas Air is experiencing some turbulence. Acquisitiveness has bred turmoil: growing labor unrest, flagging employee spirit and complaints alleging poor service and aircraft maintenance. Wall Street analysts wonder if the company expanded too much and too fast. They question whether Lorenzo, a whiz at financing and acquisitions, has the attention span needed for the details of running a huge airline. In an industry where service is crucial, employees and top management at Eastern and Continental seem too busy warring with each other to satisfy customers' needs...
That perception has propelled some passengers toward rival ticket counters. Texas Air has suffered three consecutive quarterly losses exceeding $200 million, is expected to lose an additional $50 million by year's end, and could fare far worse if a recession comes along. Lorenzo concedes that the merger of four major airlines has produced more lapses in service than he anticipated. Says he: "There is no sugar-coating. We did not do a good...
...Lorenzo, an avid runner, has been racing to improve his airlines' mediocre performance, and there were signs last week that he has achieved some success. A study released by the Department of Transportation showed Eastern and Continental outperforming the industry average in two areas: making sure that flights arrive within 15 minutes of schedule and keeping baggage from getting lost. But agency critics question DOT's reliance on airline-supplied figures for the report, which marks the first Government effort to quantify the service of U.S. carriers...
Zobel is best known for his series of paintings "Diaolgos," "conversations" with artists such as Rembrant or Lorenzo Lotto. His work is often associated with the informalist movement, which developed after the fall of the Spanish Republic and is especially color-sensitive...