Word: midlanders
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...cost carriers now account for about 25% of scheduled passenger traffic between Britain and the rest of the European Union, and 7% of European air traffic overall. And with the market on the move, more traditional airlines are developing budget strategies. Last March, U.K.-based BMI British Midland launched its budget arm, bmibaby (get it?), with flights from England's East Midlands Airport. bmibaby says it met its 2002 sales forecasts in the first three months of operation and come October will fly budget services from Cardiff International Airport to nine destinations across Britain and the Continent...
...Bush came to his benevolent view of corporate America by way of Midland, Texas, where the young Harvard Business School graduate landed in 1975 hoping to strike it rich in the oil business. There, Bush recalls, businesses were filled with "good men" who would strike a deal on a handshake or the strength of a family name. When the oil boom went bust, as it did for Bush in the mid-1980s, small-business men didn't cash out their stock options and run; they took pay cuts and tried to help their employees. To Bush, Enron and WorldCom were...
...What does make perfect sense to anyone from those Midland days is to blame Wall Street. Bush remains distrustful and not a little dismissive of the investment bankers who swooped into Texas with saddlebags full of cash when oil prices gushed but galloped out of town when prices sank. Back in April, when the Dow hovered around 10,000, a White House economic adviser told the President at a social gathering that "there's no reason this market shouldn't be around 7500." According to an eyewitness, Bush made a face, turned and walked away, as if the subject bored...
When Bush went into the oil business in Midland, Texas, he didn't discover enough of the stuff to strike it rich. He merged his first company, Arbusto (Spanish for "bush"), into one called Spectrum 7 in 1984 and then led the struggling firm into Harken's embrace in 1986. In exchange for his 15% stake in Spectrum, Bush got Harken stock worth some $320,000; he was also hired as an $80,000-a-year consultant. Harken founder Phil Kendrick explained it this way: "His name was George Bush," he told TIME. "That was worth the money they paid...
...When Bush went into the oil business in Midland, Texas, he didn't discover enough of the stuff to strike it rich. He merged his first company, Arbusto (Spanish for "bush"), into one called Spectrum 7 in 1984 and then led the struggling firm into Harken's embrace in 1986. In exchange for his 15% stake in Spectrum, Bush got Harken stock worth some $320,000; he was also hired as an $80,000-a-year consultant. Harken founder Phil Kendrick explained it this way: "His name was George Bush," he told Time. "That was worth the money they paid...