Word: cabs
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...curious stagger, poking in and out of book shops and record stores, where he is known for his excellent taste and frequent purchases ("I wave a flag for Wagner and Richard Strauss."). During working hours, he has handy a large green bottle of ginger ale, which Frankie, a Boston cab driver who is often at his side, manages somehow to keep cold. Mr. Eyre seldom retires until past dawn and normally is not seen about until well past time for luncheon...
SUPER TRAVEL AGENCY combining regulatory powers of CAB, CAA, ICC, Maritime Board and Maritime Administration is being seriously considered by the Eisenhower Administration. Reason: existing agencies are bogged down in red tape, often cannot cope with modern transportation needs...
...sensitive type named Gregory. Gregory is as phony as a man who would wear a monocle over a glass eye. He mismanipulates the monocle as a social rather than an optical device in a series of appalling drawing-room misadventures-until it falls to the floor of a London cab. and with it falls its owner...
What worries the industry is that by the time red-taped CAB gets around to deciding on a fare boost, so many lines may be in such serious financial shape that they will have trouble competing. Though the industry recently got an interim 6.6% fare increase, it will only boost the 1958 profit margin to 2.6%, far less than is needed to pay for jets. Domestic carriers still need $600 million, but simply cannot make the healthy profit needed to attract bank financing. Wall Street is just as cool to equity financing: common stocks of the twelve lines are selling...
...answer that airmen dislike but the one they may be forced to by CAB's painful delay is a return to subsidy. Either that, or the industry may see a rash of mergers, leading off with Northeast, which won the rich New York-Florida run last year and still lost $1,000,000 in the first quarter of 1958. National might merge with Northeast to eliminate a rival on the Florida route. Delta and American could also gain entry, help solve their own problems by taking over the struggling line...