European Stars And Stripes (Newspaper) - July 2, 1985, Darmstadt, Hesse                                Page 18 the stars and stripes july 1985 daily Magazine Pivotal figure in deregulation of airline Industry up photo Frank Lorenzo president of Texas air by agis salpukas new York times when historians look Back on the air line Frank the presi Dent of the Texas air and the chair Man and chief executive of Continental is Likely to emerge As one of the Pivotal figures in the Era of deregulation just As Juan the founder of pan american world is regarded As a leading Pioneer in establishing International with an agreement by trans world airlines to be acquired by Texas air for Lorenzo would have three Continental and new York whose Market share together is second Only to United air a subsidiary of Ual although the agreement with Twa Calls for it to remain most analysts expect it to be eventually integrated with the such a combination would not Only create a formidable Domestic but would also form an impressive International twas presence would make the new Carrier the larg est transatlantic airline Continental has already provided it with an extensive route network in the South Lorenzos new company would also be with routes stretching from Continentals service to Tokyo to twas service to All fed by a Strong Domestic unlike who pressed for the development of new Long Range and who had daring pilots demonstrate that the vast distances of the Pacific could be crossed by Lorenzo has built his Empire through acquisitions of established but troubled carriers Texas International air lines in 1972 and Continental airlines in Twa would be the latest and largest of such he also founded a Low Cost new York that Carrier has met with less Success in new York air lost about in each Lorenzos strategy has been to hold Down the Cost of primarily through lean labor this allowed his airlines to charge lower which has helped lure business from Continental airlines has attracted the most Lorenzo acquired it in a hostile takeover Battle that left Many labor leaders and executives bit Terly opposed to what they described As his ruthless meth the which entered chapter 11 bankruptcy proceedings in september has since become Profita although it is still under Protection of the bankruptcy last it made a million and some of its employees earned million under the company profit sharing Lorenzo has a reputation of being a Tough he has not hesitated to replace at any of his airlines executives who Are unable to turn around losing opera his main fellow executives is determine As one once put pointing to a he himself might run at the Wall two or three and give he will hit it 300 and get Francisco Anthony Lorenzo who has since changed his name to Frank was born in Rego on May to Spanish immigrants who ran a Manhattan Beauty the brow haired executive worked his Way through Columbia University by driving a coca cola truck in the Summers and working As a Salesman part time at he now lives in Houston with his and three daughters and a and whether he is at Home or Lorenzo typically squeezes in a period of sometimes taking along breathless his first Contact with aviation came after when he graduated from Harvard business school and went to work for Eastern airlines in new York As a financial it was then that he became friends with Robert now chairman of the executive committee at Texas at that worked across the Street for the investment firm of Warburg both men shared a fascination with americas successful such As Andrew and were avid readers of they also believed that the airline Industry was going through Many changes in the and that those changes provided Many opportunities for in each put up to form Carney to look for such this initial invest ment enabled them to set up a holding Jet which then raised More than million of additional funds through a Public Stock in Jet capital took Over a floundering Texas and that really started Lorenzo on his what you mar Rise 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31 Church Bench 34 reclaims 35 misplace 36 Sedan or Coupe 37 wild ass 39 female Fox 40 old to series 41 Buckeye state 42 dreadful 43 Active sport 44 biblical Weed 45 sight in Sicily 46 ooze 48 the sack solution time 27 1 to 23 40 24 41 25 42 21 34 38 19 35 13 16 31 48 51 54 26 43 22 39 17 20 36 14 37 49 52 55 27 32 44 10 my 28 45 29 46 Hubert for tonight what a splendid How about a a Juicy roa9t rib y of 5eef i can you make it id Loam company and within the hour