Out of the Swim

The ebb of financial tides last week left some big fish stranded on the beach:

¶ Paul E. Richter, who helped Jack Frye put T.W.A. on the air map, quit as T.W.A.'s executive vice president with some harsh words: "I cannot agree with the policies, the programs, or the procedures proposed by the controlling stockholder" (i.e., Howard Hughes). The fourth top man to quit this year, Richter's departure left T.W.A. with little airwise talent on the executive committee temporarily running the line.

¶ Charles B. Henderson, 73, resigned as chairman (but not as a director) of RFC for reasons...

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!