This Week in Alaska Business History December 23, 2001

PHOTO/James MacPherson/AJOC
Editor’s note: "This Week in Alaska Business History" revisits events that shaped our past.

"Those who cannot
remember the past are
condemned to repeat it."
-- George Santayana, 1863-1952

20 years ago this week

Anchorage Times

Dec. 23, 1981

CAB refuses to speed up Wien sale

By Paul Monaghan

Times Washington Bureau

WASHINGTON -- The Civil Aeronautics Board ruled late today against the quick takeover of Wien Air Alaska by Neil G. Bergt, owner of Eagle International Corp. and recently named head of Western Airlines.

Instead, the CAB found that Bergt must submit his planned acquisition of Wien to the board for a full antitrust review that could take up to six months.

"Mr. Bergt cannot acquire control of Wien without first getting the board’s approval," said Betsy Wolf, an attorney with the CAB’s Competitive Maintenance Division.

Bergt had filed Monday for an exemption to the Section 40-approval process. Such exemptions are available to air cargo and commuter air service companies. Under the exemption provision, the applicant can merely notify the CAB of its proposed takeover and, unless the CAB objects within 45 days, the merger can go ahead. But the CAB in its brief order Wednesday said Bergt, because of his position with Western Airlines, cannot receive the exemption.

Anchorage Times

Dec. 23, 1981

Alaska Railroad posts $3.3 million profit

Line turns 1980 red into black

Frank Jones, manager, reported today that the Alaska Railroad earned a bottom-line profit of $3.3 million during the fiscal year ended last Sept. 20, the first earned surplus in five years.

The profit reflected a turnaround in revenues and expenses that totaled $9.1 million from 1980, when the railroad reported a loss of $5.8 million.

Jones, in his annual report to the U.S. Department of Transportation, said freight revenues increased 29 percent during 1981. The railroad moved a record 51,307 carloads of freight. That was 1,723 more than in 1977 when shipping for the trans-Alaska oil pipeline was at its peak.

The manager noted that the movement of gravel from the Matanuska Valley to Anchorage accounted for the greatest percentage of the freight increase. The railroad operated two special gravel trains and moved 1,796,800 tons, exceeding the total of all freight tons hauled.

10 years ago this week

Alaska Journal of Commerce

Dec. 23, 1991

Hunt lots sold

Equitable buys downtown Anchorage properties

By Ray Tyson

Alaska Journal of Commerce

The Equitable has paid an undisclosed sum for about half of Nelson Bunker Hunt’s remaining property in Anchorage, and the local real estate broker who handled the sale for the financially troubled Texas investor said it’s the biggest downtown land deal in years.

Dale Jackson, president of TRF Brayton Co., said he expects to find a buyer for the rest of Hunt’s downtown property within a year to 16 months.

Jackson said the Equitable, which repossessed Hunt’s 300,000-square-foot Enserch Tower in 1988, paid cash for 23 parcels. TRF Brayton listed the property at $10,921,690.

"We were delighted with the sale," Jackson said. "I’d say this is one of the largest real estate deals in raw land downtown in seven or eight years, maybe longer. I think they (Equitable) have a lot of confidence in Alaska."

Alaska Journal of Commerce

Dec. 23, 1991

’Tis the season to be jolly,’ for most

By Margaret Bauman

Alaska Journal of Commerce

Alaska’s business owners seem to have their usual stock of holiday cheer this season, hosting enough gatherings to keep hotel and restaurants jumping.

Despite cancellations by some of the usual major clients, reports from prominent gathering spots indicate the demand for catered holiday parties is up over a year ago.

While some firms are cutting back entertainment budgets, those who had a good year are having more elaborate parties, caterers said.

At the same time, there has been a decline in parties hosted by larger companies because budgets are being cut, said a representative of one prominent hotel. The missing notables from this year’s large party circuit include an airline, a telephone company, an oil company and a major automobile dealership, said the representative, who asked not to be identified.

-- Compiled by Ed Bennett.

12/23/2001 - 8:00pm