Word: northeasterly
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Dates: during 1960-1969
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...this year's rate of $15 million, and now he thinks the line is ready for calculated growth. Last week, in a complex deal that would make Mohawk the nation's eighth biggest air carrier, Peach proposed to absorb the planes and key routes of low-skimming Northeast Airlines. If Northeast and the Government approve, Northeast's southern routes would go to competing Eastern and National, while the three buyers would pay Northeast $23 million worth of stock, warrants and notes...
...part of Project Vela, a new group whose purpose is to discover how far away underground nuclear explosions can be detected. Such tests would probably use old-style bombs, and the Russians and others might be invited to participate or observe. But on dry Broom Lake in the isolated northeast corner of the range, a 1,500-ft. tower is under construction for far more advanced testing. On its top will soon perch a small, unshielded nuclear reactor designed to give powerful bursts of neutrons and gamma rays for short periods. There will be no explosion, but scientists will...
...steadily from $1.4 billion in pre-jet 1957 to an annual rate of $2 billion so far this year, the nation's eleven major domestic airlines collectively have lost some $20 million in the first half of 1961. Trans World Airlines alone lost $10 million, while Eastern, National, Northeast, and Western also turned in deficits. On the usually rich North Atlantic run, Pan American dropped close to $2,000,000, and this month its big jets were winging to Europe little more than half full. Says American Airlines' President C. R. Smith, whose company barely made...
...Board has pursued a well-intentioned but debatable policy. To keep weaker lines from bankruptcy it has given them good routes in direct competition with the strong lines. With rare exceptions the added competition hurt the strong and weak lines alike. Classic example: hoping to help out much-troubled Northeast Airlines, the CAB permitted it to fly the blue-ribbon New York-Miami route in competition with vigorous Eastern and National. Result: not only has Northeast failed to make a profit, but the sharp competition has turned the other two lines' black ink to red on that route...
...Harvard's Paul Cherington, argue that the U.S. hardly needs a dozen major lines, that some sensible mergers would eliminate costly separate facilities and ground crews. The CAB's new Chairman Alan S. Boyd, 39, is merger-minded, and he is already hunting a strong mate for Northeast Airlines. His goal is to strengthen the airlines so that they will be able to make the next technological leap forward-to supersonic jets by the early 1970's-without massive federal subsidy. To accomplish that, Chairman Boyd believes that the CAB must abandon its policy of rewarding...