Word: millions
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Dates: during 1960-1969
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Page, along with many other cardiologists, now wants the U.S. Government to finance a far more comprehensive study, putting no fewer than 40,000 men on an engineered diet for ten years. The cost would be at least $100 million...
...mile flight "a matter of survival." Though it accounts for only 1.3% of all U.S. stock transactions, the P-B-W is the third largest of the nation's nine regional securities markets, after the Midwest and Pacific Coast exchanges. More than three-quarters of its annual 45-million-share volume comes from brokers outside Philadelphia. Most of that business involves stocks listed on the big New York exchanges. Says Wetherill: "No broker would do business with us when he could save his customer the 50 a share on the other regional exchanges...
...anyone would want to buy the "Mickey Mouse airline," which is what patrons of Air West call the Western states' regional carrier. Its turboprop planes are notorious for late arrivals and departures, and the company is losing cash nose over wingtip. It ran up a deficit of $3.6 million in the first nine months of 1968. For all that, Hermit Billionaire Howard Hughes eagerly snatched up Air West on New Year...
...Lines of San Francisco, Phoenix-based Bonanza and Seattle's West Coast. None of the three was big enough to boss the other two, and the result of divided leadership was snarled schedules and fouled-up reservations. The Bank of America, which financed the merger with $54 million and expected its money back by Jan. 1, advised Air West's management to sell the company "before it is no longer at tractive." Meanwhile, no more loans...
Bitter Brawl. Enter Hughes. His of fer last August of $22 a share, or about $94 million, set off a turbulent board room brawl. Air West Chairman Nick Bez, 73, former head of West Coast and a generous contributor to the Democratic Party in Washington State, spoke for Hughes. Lined up against him were Vice Chairman Edmund Converse, for mer head of Bonanza, and President G. Robert Henry. They insisted that Air West has enormous potential and that the offer, made through the Hughes Tool Co., was far too low. Says Henry: "We're spread over the richest...