Word: first
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Dates: during 1960-1960
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...first U.S. helicopter designed specifically as a commercial airliner last week showed off its flying ability outside the Sikorsky Aircraft factory in Stratford, Conn. For helicopter airlines, the S-61 promises to do what the famed Douglas DC-3 did for regular airlines: make hauling passengers a profitable business...
...increase in sales during the trial period would cost the company $2.8 million; a 50% increase would cost it $18.7 million. The first Wall Street reaction was one of suspicion. By week's end A.M.C. stock was off one point. What the sellers failed to realize is that Romney cannot lose. He pays nothing if sales, down slightly in December from November, do not increase at least 10%. But if his gimmick makes them rise above that, the profit on the extra cars sold will more than make up the rebates...
Romney's is not the first made-in-Detroit rebate. In 1915 Henry Ford rebated $15.4 million to customers at the rate of $50 a car. The United Auto Workers union has suggested similar plans to automakers. Romney himself put one forth in 1957, but attached so many conditions that it never got started. This time, he says, he is going...
Next step for the C. & O. will be to ask the Interstate Commerce Commission to permit the exchange of stock to give C. & O. control of the B. & O. Tuohy insists on control as a first step toward merger, since he wants to make some changes in the financial structure of the debt-ridden B. & O., notably alter a clause requiring that a $23 million bond issue be paid up if the B. & O. merges. After that, he intends to push for complete merger of the C. & O. and B. & O., which would create a vast railroad net rivaled only...
...prosperous C. & O., which earned $37,994,000 in the first eleven months of 1960 and has paid a dividend for all years except two since 1899, intends to pump money into the B. & O. system for a badly needed modernization program, will repair or replace the B. & O.'s worn freight cars. All told, Tuohy expects the merger ultimately to save the two lines $46 million a year...