Word: swaps
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Seawell is continuing his cost-cutting restructuring of Pan Am. The recently approved route swap with TWA, which eliminates costly head-to-head competition on international runs, is now being put into effect. Seawell is also discussing the possibility of a merger with Eastern Airlines, American Airlines or TWA (which is having its own problems: 1974 losses totaled $23.6 million). At week's end Pan Am asked the CAB for authority to suspend much of its service in the Caribbean, where in the mid-1930s its globe-girdling expansion first took wing...
...changing conditions, notably a fourfold rise in fuel prices and a deep slump in international air travel. Having failed in an attempt to wangle Government subsidies to keep them aloft, the two carriers last week unveiled the first move in their strategy for survival: a far-reaching, five-year swap of overseas routes that would drastically reduce head-on competition between the American giants and, they hope, allow them to fly planes somewhat more fully loaded (though each would still be competing with a swarm of foreign-flag carriers). If the agreement is approved by the Civil Aeronautics Board...
...freshman competition, rookies Bob DuBois and Bucknell Webb took third place for the Crimson. The rules of the regatta required that the crew and skipper swap roles midway in a match...
...industry and highway safety. Many feel a little resentful about this part of the event--they don't want a good driving score pulled down because they don't know the intricacies of Department of Transportation regulations. Meanwhile, judges and officials confer on rules and procedures, drink coffee and swap stories. It may rain...
...combine would be within striking distance of the leading chain, the Chicago Tribune group; its seven papers, which include the Tribune and the New York Daily News, have a daily readership of 3,549,000. The proposed deal is essentially an acquisition: Knight will swap stock worth some $158 million for 77,100 Ridder shares and dominate the enlarged chain's board of directors. Knight has been expanding steadily since the late Charles L. Knight, a former editor of the Woman's Home Companion, bought the Akron Beacon Journal in 1906. Under Knight's sons, John...