Word: truce
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Despite this truce, there are still new galaxies to conquer before the Aerospace Force becomes the big cheese. There is still an ill-defined line between military projects and work done by the civilian National Aeronautics and Space Administration. Some day soon, the President will have to set up a single, economical space agency. Airmen are betting that it will belong to them...
PROXY FIGHT SHOWDOWN will come at the Alleghany Corp. annual meeting in May in the battle for the $5.5 billion holding company that controls the New York Central and Investors Diversified Services. Eleventh hour truce talks failed between Alleghany Chairman Allan P. Kirby (TIME, Dec. 12) and Brothers Clint W. Jr. and John Murchison. Both sides have already started soliciting proxies...
Only a brief interlude of truce interrupted the battling. In 1946, CAB certified Braniff International Airways to fly into South America. Faced with the threat of this new competitor, Pan Am and Panagra joined forces to squeeze Braniff out. Pan Am refused to let Braniff use its airport facilities or communications systems; Panagra warned its personnel not to fraternize with Braniff employees, even bribed a junior official for copies of Braniff's passenger manifests...
...Merger? When Braniff's competition proved to be small, the truce ended. Grace once again tried to break Pan Am's strangle hold on Panagra's operations. Charging Pan Am "with every conceivable obstructionist tactic," Grace in 1951 petitioned CAB for a Miami tie-up between Panagra and National Airlines. In a bristling counterattack, Pan Am accused Grace of seeking the tie-up only because of its holdings of 174,000 shares of National stock...
...billion will cut federal tax receipts by $3 billion-"enough to pay the federal share of all our antirecession health and education proposals." Said the President: "Your success and ours are intertwined. Whatever past differences may have existed, we seek more than an attitude of truce, more than a treaty-we seek the spirit of a full-fledged alliance...