Word: cabs
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Scolded by testy cab drivers, seared by his best girl's refusal to elope with him, and surrounded by an adult world of "phonies," he loses control of his tight-lipped histrionics. He sneaks home for a midnight chat with his perky ten-year-old sister, breaks down and cries on her bed. In a moving moment, he tells her what he would really like to do and be: "I keep picturing all these little kids playing some game in this big field of rye and all. Thousands of little kids, and nobody's around-nobody...
...rest of the industry nearly dropped its teeth too when it heard that Janas had resigned as the result of a Civil Aeronautics Board report which charged him with 40 violations of the law and of CAB regulations. Even though Colonial has been in the red for the past five years ($310,000 in 1950), CAB says it "may be shown" that Janas withdrew more than $50,000 of Colonial funds as an advance expense account, and used it to speculate in Canadian currency. "The profits" says CAB, "were retained by Janas." Other CAB charges...
...Janas organized subsidiaries such as Canadian Air Express and Airlines Limousine Ltd., never reported his stock ownership in them to CAB...
Summed up CAB: Janas "may have falsified Colonial's accounts and reports, may have failed to disclose stock ownership . . . may have failed to obtain approval of interlocking relationships . . . and may have so managed and conducted Colonial's business as not to conform to the standards of honest, economical and efficient management...
Although out as boss, along with vice president A. M. Hudson, Janas remains as consultant and director of the company. Janas agreed not to fight the charges before CAB, said the board, will pay back Colonial $75,000, and will also pay out of his own pocket any fines that might be levied against the company. But he was still not in the clear. CAB turned the report over to the U.S. district attorney in New York...