Word: northwest
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Dates: during 1990-1999
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That's why the alliance between Northwest and Continental, announced last week, will probably improve the ride for the two companies more than for their passengers. In the unorthodox agreement, Northwest will buy 14% of Continental's common shares--but 51% of the company's voting shares--effectively creating a domestic and international network to compete with megacarriers like United and American. The Continental shares are being sold by Air Partners, controlled by investor David Bonderman. Continental was operating on a wing and prayer five years ago when Air Partners and Air Canada (which since sold its shares) each invested...
More important, the Northwest-Continental link may represent the end of an era of chaos that began with deregulation in 1978. Midsize carriers such as U.S. Airways are viewed as ripe for merger. "In a mature industry, if you want growth you have to acquire your neighbor or form an alliance," explains Kevin Murphy, an analyst at Morgan Stanley, Dean Witter, Discover. "And that's what they've done...
...companies also get the critical mass needed to compete with the aviation blocs created by American and United. The two majors each stitched together a quilt of global partnerships that could potentially outmaneuver smaller carriers like Continental and Northwest, if left to their own devices. Just last week a long-awaited air-service agreement between the U.S. and Japan was reached, opening up significant competition to Northwest's profitable Asian routes. American and United are expected to ink partnerships with major Japanese carriers...
...weather system develops as expected, it would mark the second major winter event to hit the area this season. In late December, the northwest reaches of Middlesex County were blanketed by almost two feet of snow.Crimson Staff Writer Melissa K. Crocker contributed to the reporting of this story...
...ineptitude, The Postman has heart. It's unabashedly patriotic, and if all of those beautiful, panoramic shots of Utah and the Pacific Northwest can't make you proud of this country, then nothing can. So if you can suspend your cynicism for a moment, there is something strangely rousing about watching the mail go through...hey, that's not what I meant...