Word: stuart
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Dates: during 1960-1969
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...basic premise behind the merger is that it will yield greater efficiency-and therefore higher profits. Those profits are desperately needed. Stuart Saunders, who became chairman and chief executive of the new Penn Central (TIME cover, Jan. 26), recently reported that the Pennsy's operating earnings for 1967 were off 68.7%, falling from $45,055,320 in 1966 to $14,091,593. Consolidated earnings, which covered non-rail activities, brought the total to $60,344,240, a drop of 33.2%. In the ailing railroad industry, that was not bad at all-and it seemed almost good compared with...
...STUART T. SAUNDERS
...gripes and some tall tales fresh from trackside, then told his colleagues that he was not overly optimistic. Little in the research filed by TIME reporters across the country indicated that complaining commuters were in for much immediate relief. In fact, Washington Correspondent Juan Cameron, who interviewed Stuart Saunders, discovered that the busy boss of the country's biggest railroad seldom rides by train himself. He prefers autos or planes, and Cameron suspects he knows the reason. He took a trip in one of the Pennsy's private "company" coaches, and reports that it was spartan, overheated...
...Justice Abe Fortas read the 37-page opinion that put an end to ten years of frustrating negotiation and deliberation, the smile on the face of a chunky, balding spectator seemed to light up the marbled chamber. For Stuart Thomas Saunders, 58, the man who has already been picked to head the Pennsylvania New York Central Transportation Co., the court's 8-0* vote was a singular personal triumph...
Such is the future of U.S. railroading, and so auspicious is the outlook for the Penn Central merger, that Stuart Saunders last week relaxed his customary aggressiveness. "I have heard it said that a long courtship makes for a happy marriage," said Saunders, as he looked back over the years of fuss and frustration, "and I hope that it is true, for it will surely mean eternal bliss for the Penn Central." Bliss, perhaps. But with Saunders running things, certainly not tranquillity. Honoring Saunders last week with its annual Benjamin Franklin award, Philadelphia's Poor Richard Club summed...