Word: cabs
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...nine months as chairman, leathery Jim Landis, 47, had done a great deal to change CAB's thinking, speed up its machinery. A law student and then a law professor at Harvard, he went to Washington in the early days of the New Deal as one of Felix Frankfurter's "Happy Hotdogs." Brain-Truster Landis helped write the Securities Act of 1933, became SEC chairman in 1935, then dean of Harvard's law school. But Landis was soon back in Washington, where he ran the Office of Civilian Defense...
...time he took over as CAB chairman, Jim Landis had built up a solid reputation as a crack administrator, fair & square. (He also has a redoubtable reputation as a bridge and poker player.) What he lacked was aviation know-how. Some of the CAB veterans supplied that. Colonel Clarence M. Young, 57, CAB's technical expert and onetime Assistant Secretary of Commerce for Aeronautics, is a top man. Oswald Ryan, 58, another Harvard lawyer and one of the original members of the board, is CAB's legalist, steady, if not brilliant. Harllee Branch, 67, a onetime Washington correspondent...
...Methods. Despite some weak spots, CAB is now functioning with a great deal more dispatch than ever before. It is also being a lot tougher. It has indeed dished out some mail-rate boosts to help floundering lines. And it will probably grant an average boost in passenger rates from 4.5? to 5? a mile. An increase in air mail from 5? to 6? is in the offing too. Even CAB thought it had cut rates too fast, led astray by abnormal war traffic...
...with the newer rates CABoss Landis intends to keep a closer watch on airline financing. Many lines have stubbornly chosen to go into debt to buy new equipment rather than issue stock and thus weaken the holdings of those now in control. From now on, CAB intends to seek more authority over line financing...
Despite the big losses of U.S. lines on international routes, Boss Landis does not intend to reverse CAB's traditional policy against the "community company" (one Government-approved line for overseas operations owned by several U.S. companies). Landis is dead sure that, in a year or so, competing U.S. lines could be making money on foreign operations...