Word: lorenzo
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Problems from earlier takeovers mounted in Houston, where Texas Air chairman Frank Lorenzo, who has been battling his workers, confirmed last week that he may sell part or all of Continental Airlines to raise badly needed cash. Texas Air borrowed heavily for the 1986 purchase of Continental's sister carrier, Eastern Air Lines, which is mired in bankruptcy proceedings and a seven-month- long strike by its mechanics...
...question now arises at the Pepsico Summerfare festival in Purchase, N.Y., where Sellars' versions of the three operas that Mozart wrote with Lorenzo da Ponte are all being restaged. The Marriage of Figaro (1786) is set in Manhattan's Trump Tower, Don Giovanni (1787) in Spanish Harlem and Cosi fan tutte (1790) in a sleazy diner called Despina's. Nor does the Sellars game end ) there. At 31, the aging enfant terrible is talking of deconstructing Idomeneo in Brussels and The Magic Flute at Glyndebourne...
Siegel, who is comparatively mild-mannered as talk hosts go, joined KING last November. He has railed against local police for laxity in the antidrug war and against Eastern Air Lines Chairman Frank Lorenzo (he joined a picket line during the current Eastern strike). Soon he hopes to stir passions over the savings and loan bailout. "I'm not a Pied Piper," he says, "but I do believe in what...
...when the airline's pilots, machinists and flight attendants agreed to take $1.1 billion in wage and benefits cuts, spread over five years, in exchange for a 30% ownership stake in the new company. But the unions had a condition too. They demanded that Texas Air chief Frank Lorenzo step aside immediately so that a court- appointed trustee could supervise the reorganization process. Frank Carlucci, the former Secretary of Defense, had flown to New York City expecting to be appointed to the post...
When the deal unraveled, lawyers for Eastern's creditors blamed Lorenzo and the unions for fumbling the question of who's in charge. But union lawyers said creditors had blocked the deal because they felt it did not spell out how Eastern would repay its debts...