Word: pans
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Dates: during 1970-1979
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...which had figured to provide the Crimson with at least a modicum of competition, did not pan out as such all afternoon as Harvard easily dominated the swimming events, winning 10 of 11 races. Cornell's particularly poor showing might have been due, at least in part, to a 6:30 a.m. bus ride from Ithaca, but it was outclassed in any case...
SINCE the cloth-and-piano-wire beginnings of commercial air travel, the men who run the industry have put their faith-and their money-into the forward advances of technology. Nowhere has that faith been stronger than at Pan American World Airways, which was first in the air with multi-engine planes in 1927, four-engine flying boats in 1931, Boeing 707 jets in 1958 and jumbo jets in 1970. For years, British and French aircraft builders have been counting on Pan Am to lead other airlines in a competitive scramble for the newest advance, the supersonic Concorde, which cruises...
Nearly a decade after Founder Juan Trippe took options on seven of the stiletto-nosed Concordes, Pan Am gave word that it was canceling out. Minutes later, Trans World Airlines released a statement that management would recommend that the directors let TWA's six options expire. Next day in West Germany, a spokesman said that Lufthansa has no intention of picking up its three Concorde options unless the plane is drastically redesigned. It is likely that Continental Airlines will also let its three places in the Concorde production line lapse next month, as will American with its six reservations...
...While environmental groups were helping defeat the U.S. supersonic transport in 1971, the Concorde was thoroughly redesigned to minimize noise and air pollution. Still, last week's rejection was not a surprise. Since mid-January, British and French technicians led by Sir George had been lobbying mightily with Pan Am executives in New York. Pan Am has lost $150 million since 1968, but last year, in William Sea-well's first full year as president, losses were cut from $46 million to $29 million. Pan Am executives, understandably money-conscious, have serious doubts about the Concorde...
...founding Hartford family. Trustees of the foundation will meet this week to decide their position. A. & P. Heir Huntington Hartford, who has sold most of his stock, did not think much of the Bluhdorn offer, saying that selling to G. & W. would be "like jumping from the frying pan into the fire." Meanwhile Wall Streeters reckoned that Bluhdorn had acted unwisely. Just after the offer was made, G. & W. stock fell from 30⅜ to 28½, and Merrill Lynch downgraded its recommendation on Gulf & Western from "buy" to "hold...