Word: tailspins
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Declining passenger traffic and fierce price-cutting competition have sent the airlines into a dangerous tailspin. United Airlines reported a quarterly loss of $130 million, the worst in its 56-year history Eastern Air Lines also posted a record deficit of $51 million. Delta, the strongest air carrier, reported a shortfall of $18 million, its first quarterly loss in 25 years...
Acker still hopes to pull Pan Am out of its tailspin. The airline may begin subleasing its office space in the Pan Am Building and is considering moving its headquarters to Miami or some other city, where costs are lower. It may also chop more employees from its payroll; it has already let go 4,000, leaving 30,000, and cut salaries 10% across the board. Finally, Pan Am is trying to sell two of its Boeing 747 jumbo jets, although finding buyers is tough. Insists Acker: "We have over $200 million in cash. We are a long, long...
...fluttering tailspin-reaching bottom at a Dickensian snake pit where she was gang-raped by drunken G.I.s and subjected to every form of torture the psychiatric Establishment could devise, from shock treatment to massive doses of mind-bending drugs and, quite possibly, a transorbital lobotomy-is the stuff nightmares and film biographies are made of. Now a company of film makers is attempting just that: Frances, a $10 million movie starring Jessica Lange as the doomed actress and Kim Stanley as her wildly eccentric mother Lillian...
...Prensa would have a devastating effect on the government's image, both at home and abroad. It would be an admission that the Sandinistas had abandoned their commitment to pluralism and freedom of the press, and were drifting toward totalitarianism. But with the Nicaraguan economy in a tailspin and public restiveness on the rise, the government seems increasingly unwilling to give free rein to so outspoken a critic. If La Prensa is crushed, said Vice President George Bush last week in Rio de Janeiro, the Sandinistas will "make it strikingly clear in the eyes of the world that they...
...Crimson were coming off a perfect 10-0 season with an Ivy League title--their most recent--and a spot in the Eastern quarterfinals. On a cold, muddy pitch in Oneonta, N.Y., Hartwick stunned the booters with a 4-3 overtime win that sent the Harvard program into a tailspin that has taken a decade to end. Today's match is a chance to gain altitude...