Word: phoenixed
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...keep policyholders and investment capital from fleeing, as well as to attract new customers, some insurers are looking at mergers as a means to survive and prosper. Connecticut-based Phoenix Mutual Life (with 400,000 policyholders) and New York-based Home Life (300,000) admitted last week that preliminary talks are under way for a possible merger of the two firms, the first between major mutual life insurance companies. In a mutual life insurance firm the policyholders are the owners. If the merger is completed, a process both companies admit may take more than a year to accomplish, it would...
...time when such halfway measures will no longer suffice is rapidly approaching. For the first time last year, Arizona started taking much of its share of river water for fast-growing Phoenix and Tucson, leaving its larger neighbor to face the possibility of a short supply. Within California, farmers have become alarmed at the possibility that the water they need for irrigation may be diverted to the cities. Says John Pierre Menvielle, a third-generation farmer in Calexico, on the southern edge of the Imperial Valley: "People in Los Angeles and the coastal plain say, 'You guys are wasting water...
...light of other concerns. One long-running dispute concerns the Western Area Power Administration's operations at the Glen Canyon Dam in Arizona, just above the Grand Canyon. The agency releases huge amounts of water through giant turbines to meet peak power demands in places as far away as Phoenix. These dramatic surges of water create artificial "tides" that, environmentalists complain, erode the sandy shoals along the river's banks and damage breeding grounds for fish and waterfowl...
...recession deepened and war jitters sidelined travelers, U.S. airlines slashed fares. By last April, 95% of all U.S. air passengers were traveling on the cheap, according to the Airline Monitor, an industry-research monthly. Despite a heady 30% increase in its passenger traffic from April to June, Phoenix- based America West was forced to seek bankruptcy protection last month...
...success of these films as popular entertainment and as clues to the zeitgeist remains to be determined. But they will have to go far to match Thelma & Louise. "Ten years from now it will be seen as a turning point," says Peter Keough, film editor of the Boston Phoenix...