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Money Matters: Eastern-Texas Air Merger, Stock Market #101124

ABC Evening News for Monday, Feb 24, 1986
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(Studio: Sam Donaldson) Report introduced

(Miami, Florida: Mark Potter) Eastern Air Lines board said agreeing to takeover by Texas Air Corporation [Employees Fred FROST, Frank SHREWSBURY - disagree on buyout.] Pilots and flight attendants noted trying to avert Texas Air takeover due to chairperson Frank Lorenzo's reputation as union-buster; his approach to Continental Airlines recalled. Eastern president Joseph Leonard's announcement of sale despite pilots and flight attendants' willingness to compromise explained. Eastern mentioned denying resignation of chairperson Frank Borman.

(Studio: Sam Donaldson) Stk. Mkt. Report; activity of Eastern and Texas Air on stk. market reported

Reporter(s):
Donaldson, Sam;
Potter, Mark
Duration:
00:01:40

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