Word: mergers
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Dates: during 1970-1979
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...Share. The proposed merger continues a movement toward airline consolidations that began in November, when Northwest and Northeast Airlines agreed on the first major merger since 1961. If the Government allows American to buy out Trans Caribbean, Chalk will become probably the largest individual shareholder in American. He would get approximately 245,000 common shares, based on his last reported Trans Caribbean holdings. That would easily be enough to entitle him to a seat on the American board. Airline men think, however, that Chalk has had about enough of transportation ventures and will devote himself mostly to his other interests...
...Merger Confusion. The railway men have no shortage of excuses. For years, the rising losses on passengers were partly offset by profits from freight. But the freight business was hit hard by the merger two years ago between the Pennsylvania and the New York Central. The two railroads had separate freight yards in many cities, and in the post-merger confusion thousands of cars went to the wrong yards, causing costly tangles. The merger was also accompanied by the abrasive sound of personalities grating on each other; the scramble for a declining number of management jobs is not yet over...
...costs of the merger were wildly miscalculated, and Penn Central is still trying to devise a computer-based information system to keep managers up-to-date on all of its activities. It also suffers from an archaic labor contract, under which an engineer is paid for a day's work for every 100 miles that he travels; if he rides the high-speed Metroliner, for example, he gets 41 days' pay ($111) for each round trip from Washington to New York. The railroad chiefs complain that they cannot afford to buy enough costly new passenger cars...
...Gilbert said last night that her nomination reflected the changing relationship between Harvard and Radcliffe, as seen in the merger of the two institutions proposed for this year and the beginning of coed living this week...
Several Radcliffe freshmen were present, as a result of the recent merger, but only one ventured an opinion on an issue in an audible voice. Of the twenty-five Harvard freshman attending, exactly eight voiced opinions throughout the meeting. After dispensing with Jubilee Weekend in two sentences, the Council heard and almost immediately passed a measure regarding the jurisdiction of the Committee on Rights and Responsibilities. After passing the motion, the Council proceeded to consider the motion. The discussion on the expansive measure flagellated around having the right but not having the right, legitimacy and illegitimacy, revolting on the vote...