Word: new
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Dates: during 1960-1969
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...Federal Trade Commission, long a Nader target, will get new powers to seek injunctions against businessmen whom it accuses of unfair practices...
Many did just that, to the delight of travelers. Pan Am, TWA and Alitalia were selling $299 round trips between New York and Rome. BOAC offered a $260 fare between New York and London; Air Canada came in with $282 between Montreal and London. KLM announced its intention to reduce fares by nearly 50% from North America to Eastern Europe...
...rest in annual installments of $5,000,000 each year through 1973. The payments do not reduce Amexco's current reported profits because they are charged against earnings retained from prior years, and the company's growth has given it enough earnings to provide cash for new adventures...
...growth has created an unusual demand for young executives, and Clark has developed an equally unusual method of training them. Every year Amexco assigns six or seven new graduate-school alumni to be management consultants within Amexco. Each one studies a particular new business opportunity or competitive threat and develops a program to deal with it. By the time they are through, says Clark, "they know the company inside out," and are usually enthused about it and ready for major operating responsibility. Meanwhile they save American Express a consultant...
...refer to them as "spaghetti," the Germans call them "sauerkraut" and the Americans say that they are "for the birds." Yet, after three weeks of wrangling in the usually placid Swiss town of Lausanne, representatives of the 22 scheduled lines that fly the Atlantic were unable to agree on new, uniform rates. The result last week was that the Atlantic lines began operating under an anarchy called the "open rate." That means that until they agree on rates they can charge almost any fare that they want...