Time Clock, Feb. 18, 1957

UNION VIOLENCE in bloody Southern Bell Telephone strike two years ago has been compensated by one of the biggest out-of-court settlements in history. Communication Workers of America is paying $315,000 to Southern Bell, which will drop $5,000,000 damage suit against union.

PENN-TEXAS CORP. now owns a surprisingly high 40% of stock in Fairbanks, Morse, and is still buying heavily for proxy showdown March 27. Penn-Texas bought 161,450 shares during January, by month's end held 550,050. Present Fairbanks management owns about 33%.

LAYOFFS are coming for Trans World Airlines as first step in economy drive by new President Carter L. Burgess (TIME, Dec. 17)....

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!