Word: turnaround
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Dates: during 1990-1999
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...Clinton turnaround has come with costs. The tale of how he brought it off involves excessive influence over foreign policy by a special-interest group, gloves-off bureaucratic infighting and a willingness to bash U.S. allies for electoral gain. It also involves peril. Wooing Dade County's 678,000 Cuban Americans has resulted in the most volatile period of confrontation with Havana since the 1962 missile crisis. The Pentagon fears it is only a matter of time before another event like February's shoot-down of two U.S. civilian planes by Cuban MiGs sparks a military confrontation between...
...LOUIS, MO: Surprising industry insiders, Trans World Airlines chief executive and president Jeffrey Erickson announced his resignation late Thursday, on the day the airline posted a $14.3 million quarterly loss linked to the July crash of TWA flight 800. The tragedy reversed the remarkable financial turnaround that was underway at the long-floundering company, which posted a 400-fold gain in its second-quarter earnings on July 17, the day of the crash. Erickson, 51, said he would step down in January. As investigators increasingly focus on possible mechanical failure as a leading theory for the crash, amid speculation, accurate...
...Turnaround...
...last week's disaster could endanger both the turnaround and TWA's future. Comparisons were being made to Pan Am, a troubled company that ultimately couldn't survive the bombing of its Flight 103 over Lockerbie, Scotland, in 1988. The disaster cost Pan Am hundreds of millions in canceled bookings, which helped put it out of business in 1991. Even before last week, some observers were questioning TWA's long-term outlook. Scott Hamilton, editor of the trade publication Commercial Aviation Report, told Bloomberg Business News earlier this month, "If anything goes wrong of significant consequence, like another Iraq invading...
...only has TWA survived, but the carrier once piloted by mogul Howard Hughes and later by corporate raider Carl Icahn has been enjoying a financial turnaround. Just hours before Flight 800 went down, TWA reported a $25.3 million profit for the second quarter, a fivefold gain over the same period a year ago. And with passenger traffic growing, and its $300 million cash stockpile rising, TWA has been planning to add as many as 40 Boeing 757s and 15 McDonnell Douglas MD80s to modernize the U.S. industry's oldest fleet (average age: nearly 20 years). The airline canceled a party...