Aviation: Hughes Gets His Way

In 42 U.S. and Canadian newspapers this week, full-page ads purchased by Boston's near-bankrupt Northeast Airlines will thankfully proclaim: "Welcome aboard. Howard Hughes!" After stalling off enigmatic Industrialist Hughes for two solid years, the Civil Aeronautics Board last week grudgingly authorized his Hughes Tool Co. to buy 56% of Northeast's outstanding stock from New York's Atlas Corp. The consideration that finally turned the tide in Hughes's favor, said the CAB in its caustic decision, was "not whether Hughes Tool Co. could provide efficient management, but whether Northeast would have any management at all."

On the face of it. Hughes's victory seems...

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!