Word: parent
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Dates: during 1980-1989
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...increasingly competitive environment created by the 1978 deregulation of the airline industry, TWA has become a drag on the parent corporation's earnings. It has suffered operating deficits for three of the past four years, losing a total of $133.5 million during that period. The 16-member board decided that it was "in the best interest of Trans World shareholders" to divide the parent corporation into two companies: an airline with more than $3 billion in annual revenues and a hotel, restaurant and real estate firm with $2 billion worth of business. Under the proposed spinoff, Trans World stockholders...
Trans World Vice President and Controller James R. Painter insisted that cutting the airline loose from the parent company would not "put TWA at a disadvantage," and that it "could possibly help" it. Painter was obviously referring to TWA's ongoing labor negotiations, in which its nearly 30,000 employees are being asked to take about a 15% pay cut. Without the profits from other Trans World subsidiaries, TWA's management and the unions will be under much stronger pressure to reduce costs. TWA hopes the spin-off will help it avoid following Braniff International and Continental...
STUDENTS HAVE a unique position in society; their schedules are flexible; they know they will stay at school for just a few years; they usually do not have an employer, spouse, parent, or other authority who watches over them on a day to day basis. College students are able to experiment and do things most people do not have the freedom to do. This is why students have often been the first to lead people into new areas, new ideas, new politics: we have not yet bought into the establishment, into the workaday world, into domestic regularity...
...ENGERUD'S case, the basis for the New Jersey ruling, translates this abstract principle into an everyday applicable rule. Sometime in 1972, a vice principal Sommerville High School in New Jersey "heard" Jeff dealt in illegal drugs. One day a detective told this same vice-principal that an anonymous parent called police threatening to take matters into his own hands if Engerud kept pushing drugs on campus. With the rumor and an anonymous phone tip, administrators broke into Engerud's looker with a pass key, thoroughly searched it and indeed found a big of speed. Police arrested Engerud and charged...
...third network-linked cable service to collapse in little more than a year. The Entertainment Channel, which was financed in part by NBC's parent corporation, RCA, failed to attract subscribers. CBS Cable, a cultural channel, reached 5 million households but, like SNC, did not attract enough advertisers. Chairman Daniel Ritchie of Westinghouse Broad casting and Cable attributed SNC's woes to aggressive competition. Since SNC's debut, ABC, CBS and NBC have added a to tal of 33 hours a week of late-night and early-morning news shows. Thus, says Ritchie, "the availability of commercial...