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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (July 6, 1977)
THE BATTALION WEDNESDAY, JULY 6, 1977 Page 5 art owner invests life earnings in airlines m. United Press International Ol'STON _ At the age of 32, « Lorenzo invested much of his ■arnings to become part owner , a Eoundering regional airline I idduartered in quonset huts on Huge of a secondary airport. That was five years ago. ' Cargilllfoday, the quonset huts remain nmodit)id[] ( i a rters f° r Texas Interna- hrm, ai ia | Airlines and Lorenzo is presi- . mana ? f >)it, trying to change the image of 'vision,MqLarter-century-old firm. °t line i‘0i{e hem's less and less the deri- I their : g ‘|Tree Top Air” or “Tinker Toy juick inlidiile” distortions of the firm’s do wlifiB'd name, Trans-Texas Airlines, •oultry d-first associated with the airline as fling misejonBiiltant, Lorenzo saw its weak- tarian sjuBesulted from rapid route ex- Ymcelvdjisipn, national economic slow- r obscr. wn and questionable manage- iat one dint decisions, including plans to any Idnlive from the city’s older Hobby nvolvingjpoit to multimillion-dollar or the m-jlities at Houston Intercontinen- reasoniif ; Benzo was a Columbia almost iffige-Harvard Business School stagingifeate. He also was the son of a they dot jmish immigrant beauty shop cngeontienitor who retained a rather sim- : philosophy. 'e, Sfiid, J|e can add and subtract. That ising tumls funny, but you’d be sur- e alwaysKd at the number of business ?d and ids ions that are made without ?rsareniffi>g and subtracting,” Lorenzo )vercro\J. nd to fipiniple arithmetic required re- many pefflcing a $60 million expansion lacon. >t. replacing inefficient propeller -free he!Ij with jets and fighting a four- i Servicejith groundworkers strike to cut is desiijpr costs. tionstn«nr years, management had tys frosnffl signing contracts that Texas id pouleinational simply could not af- ianscana. he said. ealth sjxBrenzo postponed plans for the e Utley, Bheadquarters at Intercontinen- don’t [T m student s work tal Airport. “Considerable patience” by more than 50 creditors also helped. The result: Since his accession in August 1972, Texas International Airlines has gone from a series of $6 million annual losses to $3.2 million net profit last year, despite increas ing competition from flashier Southwest Airlines. The 22-jet line, which connects Texas with Los Angeles, New Or leans and Mexico as well as Abilene with San Angelo, still pays no stock dividends. But Lorenzo is optimis tic. “The airline has a beautiful route structure,” he said. “We have been able to attract a group of spirited managers who can add and subtract. Through determination, we think it can be made profitable. “We re interested in change, in challenges. We’ve been willing to trv new things, experiment. The best known experiment is Texas International Airlines’ “peanuts” fin es campaign, which no doubt was aided by the coincident presidential campaign and accession of a Georgia peanut farmer. The program offers substantially re duced prices on several routes. Lorenzo, who sometimes seems a little like the youngster who takes being made hometown mayor-for- a-day seriously, is an odd combina tion of laid back and buttoned down that probably reflects a New York- to-Texas success route. But he is soft-spokenly modest about his $86,000-a-year job and TIA’s success. “There are no miracle men,” he said. “Persistent” is the adjective he would use to describe himself and longtime associate, Bob Carney, a classmate at Harvard, who helped evaluate the airline, buy control of it and who now serves as TIA’s vice president. Lorenzo would like to see some of his simple arithmetic applied by the Civil Aeronautics Board to the air line industry as a whole. As chairman of the Association of Local Transport Airlines, he has tes tified before congressional commit tees to that end. “We’d like to see improved pric ing flexibility. We’d like to see some easing of entry, consistent however with the need to preserve the integ rity of the current system.” One association idea for eased entry is already before the Civil Aeronautics Board. That would allow much freer competition on the more profitable routes while still protecting smaller, less profitable points of entry. RAY’S AFRICAN VIOLETS — SPECIAL — 5 miniatures for $6.50 Blooming Trailers, Gift Plants & Supplies 693-3237 AGGIE BLOOD DRIVE JULY 13 & 14 2ND. FLOOR MSC PIPES — CUSTOM BLENDED TOBACCO CIGARS — DOMESTIC & IMPORTED We also carry imported k cigarettes: | DUNHILL, BALKAN SOBRANIE & SHERMAN I 3709 E. 29th St. Town & Country Center Swift Proten Boneless SIRLOIN TIP Heavy Be«f ROAST Swj, t RnneleSS ROUND Swift Proten Tenderized ROUND STEAK \tured in local rose magazine s. If a ade we ii I vet. Bu! m give t after e said. 1 fl or A*—. ?bruar> Cleaning Up After the Last Act, >ugh Noward-winning short story is fea- either (i t (l in the current issue of Quartet reparinj^y magazine. Editor and iglish professor Richard Costa ieen ge®li e story is by Clayton Smith, , duriafflngflsfl graduate student from ■ away froria. d MissBdtfr who “cleaned up” in the ■ student fiction contest with the otten s(j§’’ has become the second Texas the felV University student to have a ere to: olt story published in the hy rashi&'dne’s 15 years of continuous mse to ■j^tion. lized hlyth 64 pages of copy, the corn- leg, pulPpfl Winter/Spring 1977 issue of hat bre- 1191 te t is the second largest in his- the soliT notes Costa. Another Texas A&M student, the Jur ation major John Strommer of to kno#' (, 8 e Station, earned credit for ig dart£ issue’s cover photograph. He wjuartet, a nonprofit arts work npedej'jted at Texas A&M, has been d therJ s ?fl a t the College Station campus handleB e 1970 when Costa brought it nougii f Ai m A" orn Syracuse University’s “a College. iS| Coming .jC [Soon "M? !We're expanding our line of [music boxes & musical figu- ■ rines. 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