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| | TIME.com: Crisis at Capital -- Apr. 25, 1960 -- Page 1 |
 | | If Capital did not immediately pay the $12 million in arrears to Vickers on the purchase of 60 Viscounts, Vickers would foreclose the $33.8 million mortgage it holds on Capital's entire fleet of 90 planes, thus put the line out of business. |
 | | Capital's troubles were aggravated by its zig-zag route structure, which often ends nowhere, depends on seasonal trade, covers cities already heavily served by such powerful competitors as American, United and Eastern airlines. |
 | | CAB is also unfavorably impressed with the activities of the man who forced Slim Carmichael out of Capital: Charles Murchison, Capital's longtime general counsel, largest stockholder (80,532 shares), chairman of the executive committee and vice chairman of the board. |
| www.time.com /time/magazine/article/0,9171,826326,00.html (687 words) |
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