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...carriers and set their own prices. About 100 airlines now fly interstate routes, compared with 36 in 1978. In addition to People Express, many other new entries have had impressive takeoffs. New York Air is growing rapidly along the East Coast, Muse Air is doing well from its Houston base, and Jet America is carving out a niche with flights between California and the Midwest. Many others, though, have failed. After expanding too swiftly, Air Florida filed for bankruptcy in 1984 and then merged with Chicago's Midway Airlines. The casualties of competitive battles in the past two years have...
Buying Frontier puts People Express in a nose-to-nose confrontation with Continental, which has an important base in Denver. It pits Burr against a former colleague turned rival: Frank Lorenzo, the chairman of Continental's parent company, Texas Air. In the 1970s, before leaving to found People Express, Burr was Lorenzo's second in command at what was then called Texas International. The two men were once very close friends, but they now have colliding ambitions...
...zealously believes that his populist, everybody-is-important organization can make a better world, or at least a better kind of capitalism. Says William Hambrecht, a San Francisco financier whose firm helped Burr raise $24 million to start the company: "Don Burr is really operating from a philosophical base, rather than a financial one. Monetary success is almost incidental. He's after much more than that...
...promoted to assistant to the director, he learned everything he needed and then returned home in 1962. Globus, who had gone to business school in Tel Aviv, joined him in 1963 to form Noah Films, which eventually dominated the Israeli film industry. In 1979 they decided to move their base to Mecca, as they call Hollywood, and bought control of the ailing Cannon Group...
...caused it to be acclaimed in the Atlantic, praised by 60 Minutes, touted by ever skeptical Ted Koppel? Not since laying eyes on a '54 T-Bird has the old boy felt such a tingle for a machine. In time, hot, rank desire draws him to Edwards Air Force Base, a copy of Chuck Yeager's autobiography tucked into his kit. He aches to see this needle-nosed supersonic bat in the flesh, touch it. Let us just say that happens...