Word: taca
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...some years now elephantine Pan American Airways has been trying to slap down a persistent gadfly, New Zealand-born, onetime barnstormer, Lowell Yerex. But all that the slapping has accomplished so far is to make Yerex, founder and president of TACA (Transportes Aereos Centre Americanos), fly more and buzz louder (TIME, Sept. 28). Last week the buzzes crescendoed before a hearing of the Civil Aeronautics Board when Yerex appeared to ask for a license to fly scheduled routes in what Pan Am considers its exclusive territory-the Caribbean...
Nevertheless, Yerex still has one great stumbling block in his path. Since he is still a British subject (and TACA a Panamanian corporation) TACA must somehow be "Americanized" to suit the letter of the law. To CAB Yerex divulged a plan he had worked out to do just that: he wants to put all his TACA stock (over 85%) into a voting trust, to be engineered by Investment Bankers Schroder Rockefeller & Co. Over half the stock would be owned by Americans and all of the five voting trustees except Yerex himself would be U.S. citizens-among them Schroder Rockefeller Vice...
This program would seem to wrap TACA up in the American flag for keeps. Nevertheless, whispers still flew about "sinister British influence." One whisper (that Schroder Rockefeller is controlled by London's famed banking firm of J. Henry Schroder & Co.) was not hard to answer. For under terms of the plan American individuals (not Schroder Rockefeller) would boss TACA. Another objection had more substance: Yerex would still own all of British West Indian Airways and one-third of TACA's Brazilian offshoot...
...interesting would-be invader of Pan American's domain is big Eastern Air Lines, which wants to compete with Pan American pretty much everywhere, presumably with Douglas DC-35 from its crowded U.S. routes. Lowell Yerex of Central American flying fame asked for two routes each for his TACA and British West Indian Airways. KLM Royal Dutch Air Lines asked a route to the Dutch West Indies. The other three surviving new applicants are Florida-born National Airlines; Aerovias Nacionales Puerto Rico; and Cuba's new Expreso Aero Inter-Americano. Meanwhile Pan American's own belligerent half...
...TIME bows to the world's best authority on the right name of dapper, cigar-puffing Eugene Le Baron, lawyer for Central American airline TACA (recently bought by American Export Airlines...