After President Ralph S. Damon died last January, Trans World Airlines began to lose altitude. Without his firm and skilled hand, the net profit dropped 96.9% in the first nine months to only $170,000, despite an 11% rise in operating revenue. Last week T.W.A. Owner Howard Hughes finally found the man he hopes will pull T.W.A. out of its dive: Carter Lane Burgess, 39, Assistant Secretary of Defense for manpower.
Virginia-born and educated (Virginia Military Institute, '39), Burgess began his fast-moving career as a New York claims adjuster for the Liberty Mutual Life Insurance Co. He went into the Army in...
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