Management: Fasten Executive Belts

Chairman C. R. Smith had picked a man for the presidency of American Airlines, which became vacant fortnight ago when Marion Sadler quit in frustration and took off on a hunting trip in New England. And who was Sadler's successor? Why, it was Marion Sadler himself. No explanations were offered, no pronouncements delivered. Smith simply flashed one of his familiar, terse memos, known to insiders as "Smith-grams," to puzzled employees: "Good news! Mr. Marion Sadler is back at his desk this morning with the usual duties."

The return of the intense, volatile Sadler, 53, came after long talks with Smith,...

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