Gone But Not Forgotten

The most vilified airline boss takes the money and runs

The ending was right out of an Old West tale where the tough guy tells his adversary, "There ain't room in this town for both of us." The labor feud at Continental and Eastern airlines came down to a highly personal fight to the finish between union-busting chairman Frank Lorenzo and his employees. Last week it was Lorenzo who left town. The bile as well as the bubbly flowed when Lorenzo announced that he was stepping down and selling his interest in the parent company, now called Continental Airlines Holdings, to SAS, the Scandinavian airline (1989 revenues: $4.4 billion). Said John...