Robert Crandall: Difference between revisions
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==Life== |
==Life== |
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Robert Crandall was raised in [[Rhode Island]].{{Citation needed|date=May 2009}} |
Robert Crandall was raised in [[Rhode Island]].{{Citation needed|date=May 2009}} |
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He graduated from the [[University of Rhode Island]], and from the [[Wharton School]] of the [[University of Pennsylvania]], with an [[MBA]].<ref name=UH>{{cite web |title=Robert Crandall (biography) |publisher=University of Houston |url=http://www.hrm.uh.edu/cnhc/ShowContent.asp?c=8714 |accessdate=2008-04-01 }}</ref> |
He graduated from the [[University of Rhode Island]], and from the [[Wharton School]] of the [[University of Pennsylvania]], with an [[MBA]].<ref name=UH>{{cite web |title=Robert Crandall (biography) |publisher=University of Houston |url=http://www.hrm.uh.edu/cnhc/ShowContent.asp?c=8714 |accessdate=2008-04-01 }}</ref> |
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In 1966, he joined [[TWA]], where he worked for six years. In 1972, he left to become a senior financial officer at [[Bloomingdale's|Bloomingdale's Department Stores]], but he returned to the airline industry in 1973, as senior financial vice president of American.<ref name=UH /> |
In 1966, he joined [[TWA]], where he worked for six years. In 1972, he left to become a senior financial officer at [[Bloomingdale's|Bloomingdale's Department Stores]], but he returned to the airline industry in 1973, as senior financial vice president of American.<ref name=UH /> |
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Before the passing of the 1978 [[Airline Deregulation Act]], Crandall was one of the act's loudest opponents. In 1982, he had a famous conversation with [[Braniff International Airways|Braniff]] CEO [[Howard D. Putnam]], in which he told Putnam that if Braniff raised their prices, American would too. Crandall has publicly expressed embarrassment over that conversation. That same year, Crandall became American's president. In 1985, Crandall succeeded [[Albert Casey]] as American's chairman and CEO.<ref>{{cite web|url=http://www.law.depaul.edu/centers_institutes/aviation_law/crandall_interview.asp |title=DePaul University College of Law |publisher=Law.depaul.edu |date= |accessdate=2010-08-06}}</ref> |
Before the passing of the 1978 [[Airline Deregulation Act]], Crandall was one of the act's loudest opponents. In 1982, he had a famous conversation with [[Braniff International Airways|Braniff]] CEO [[Howard D. Putnam]], in which he told Putnam that if Braniff raised their prices, American would too. Crandall has publicly expressed embarrassment over that conversation. That same year, Crandall became American's president. In 1985, Crandall succeeded [[Albert Casey]] as American's chairman and CEO.<ref>{{cite web|url=http://www.law.depaul.edu/centers_institutes/aviation_law/crandall_interview.asp |title=DePaul University College of Law |publisher=Law.depaul.edu |date= |accessdate=2010-08-06}}</ref> |
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During the latter period of Crandall's tenure as CEO, investor concern over airline bankruptcies and falling stock prices caused Crandall to remind his employees about the dangers of investing in airline stocks. Known for his candor, Crandall later told an interviewer, "I've never invested in any airline. I'm an airline manager. I don't invest in airlines. And I always said to the employees of American, 'This is not an appropriate investment. It's a great place to work and it's a great company that does important work. But airlines are not an investment.'" Crandall noted that since the [[airline deregulation]] of the 1970s, some 150 airlines had gone out of business. "A lot of people came into the airline business. Most of them promptly exited, minus their money," he said.<ref>Greenberg, Peter, ''Inside American Airlines: A Week in the Life'', CNBC Documentary Feature, October 18, 2006</ref><ref>Roeder, David, ''Stock Seer Sees No Reason Dow Won't Continue Steady Growth'', sub. ''Fear of Flying'', Chicago Sun-Times, October 22, 2006</ref> |
During the latter period of Crandall's tenure as CEO, investor concern over airline bankruptcies and falling stock prices caused Crandall to remind his employees about the dangers of investing in airline stocks. Known for his candor, Crandall later told an interviewer, "I've never invested in any airline. I'm an airline manager. I don't invest in airlines. And I always said to the employees of American, 'This is not an appropriate investment. It's a great place to work and it's a great company that does important work. But airlines are not an investment.'" Crandall noted that since the [[airline deregulation]] of the 1970s, some 150 airlines had gone out of business. "A lot of people came into the airline business. Most of them promptly exited, minus their money," he said.<ref>Greenberg, Peter, ''Inside American Airlines: A Week in the Life'', CNBC Documentary Feature, October 18, 2006</ref><ref>Roeder, David, ''Stock Seer Sees No Reason Dow Won't Continue Steady Growth'', sub. ''Fear of Flying'', Chicago Sun-Times, October 22, 2006</ref> |
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In 1997, Crandall received the [[Horatio Alger]] award. |
In 1997, Crandall received the [[Horatio Alger]] award. |
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Crandall is credited with creating the first frequent flyer program in the airline industry, the [[AAdvantage]] program, as well as pioneering modern reservations systems through the creation of [[Sabre (computer system)|Sabre]]. He is also credited with pioneering [[yield management]].<ref>{{cite web|url=http://www.referenceforbusiness.com/biography/A-E/Crandall-Robert-1935.html |title=Robert Crandall 1935— Biography |publisher=Referenceforbusiness.com |date= |accessdate=2010-08-06}}</ref> Crandall also serves as a senior adviser and sits on the board of [[AirCell]], an in-flight telephony company which won the larger of two licenses for [[air-ground radiotelephone service|air-ground data service]] that provide in-flight broadband service.<ref>{{cite web|url=http://aircell.mediaroom.com/index.php?s=43&item=56 |title=News Releases |publisher=Aircell.mediaroom.com |date=2003-09-11 |accessdate=2010-08-06}}</ref> |
Crandall is credited with creating the first frequent flyer program in the airline industry, the [[AAdvantage]] program, as well as pioneering modern reservations systems through the creation of [[Sabre (computer system)|Sabre]]. He is also credited with pioneering [[yield management]].<ref>{{cite web|url=http://www.referenceforbusiness.com/biography/A-E/Crandall-Robert-1935.html |title=Robert Crandall 1935— Biography |publisher=Referenceforbusiness.com |date= |accessdate=2010-08-06}}</ref> Crandall also serves as a senior adviser and sits on the board of [[AirCell]], an in-flight telephony company which won the larger of two licenses for [[air-ground radiotelephone service|air-ground data service]] that provide in-flight broadband service.<ref>{{cite web|url=http://aircell.mediaroom.com/index.php?s=43&item=56 |title=News Releases |publisher=Aircell.mediaroom.com |date=2003-09-11 |accessdate=2010-08-06}}</ref> |
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Since [[airline deregulation]] in 1978, a number of factors which define the airline industry in the USA have plummeted. Subsequently, by 2010, every major airline had filed for bankruptcy at least once, except American Airlines.<ref>{{cite news|title=Epidemic of Bankruptcy|url=http://www.boston.com/business/articles/2011/11/29/american_joins_long_list_of_airline_bankruptcies/|accessdate=23 May 2012|newspaper=Associated Press|date=Nov. 29th 2011}}</ref> When asked to comment on the situation in June 2008, Crandall stated, |
Since [[airline deregulation]] in 1978, a number of factors which define the airline industry in the USA have plummeted. Subsequently, by 2010, every major airline had filed for bankruptcy at least once, except American Airlines.<ref>{{cite news|title=Epidemic of Bankruptcy|url=http://www.boston.com/business/articles/2011/11/29/american_joins_long_list_of_airline_bankruptcies/|accessdate=23 May 2012|newspaper=Associated Press|date=Nov. 29th 2011}}</ref> When asked to comment on the situation in June 2008, Crandall stated, |
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::{{cquote|The consequences of deregulation have been very adverse. Our airlines, once world leaders, are now laggards in every category, including fleet age, service quality and international reputation. Fewer and fewer flights are on time. Airport congestion has become a staple of late-night comedy shows. An even higher percentage of bags are lost or misplaced. Last-minute seats are harder and harder to find. Passenger complaints have skyrocketed. Airline service, by any standard, has become unacceptable.<ref>Bill McGee, March 2008. [http://www.usatoday.com/travel/columnist/mcgee/2008-09-02-airline-regulation_N.htm], ''USA Today''.</ref>}} |
::{{cquote|The consequences of deregulation have been very adverse. Our airlines, once world leaders, are now laggards in every category, including fleet age, service quality and international reputation. Fewer and fewer flights are on time. Airport congestion has become a staple of late-night comedy shows. An even higher percentage of bags are lost or misplaced. Last-minute seats are harder and harder to find. Passenger complaints have skyrocketed. Airline service, by any standard, has become unacceptable.<ref>Bill McGee, March 2008. [http://www.usatoday.com/travel/columnist/mcgee/2008-09-02-airline-regulation_N.htm], ''USA Today''.</ref>}} |
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Finally, on November 29, 2011, AMR Corporation (American Airlines Holding Company) joined the rest and filed for [[Chapter 11, Title 11, United States Code|Chapter 11 bankruptcy protection]].<ref>{{cite news|last=Isidore |first=Chris |url=http://money.cnn.com/2011/11/29/news/companies/american_airlines_bankruptcy/index.htm?hpt=hp_t2 |title=American Airlines and AMR file for Chapter 11 bankruptcy |date=Nov |
Finally, on November 29, 2011, AMR Corporation (American Airlines Holding Company) joined the rest and filed for [[Chapter 11, Title 11, United States Code|Chapter 11 bankruptcy protection]].<ref>{{cite news|last=Isidore |first=Chris |url=http://money.cnn.com/2011/11/29/news/companies/american_airlines_bankruptcy/index.htm?hpt=hp_t2 |title=American Airlines and AMR file for Chapter 11 bankruptcy |date=Nov 29, 2011 |publisher=CNN |accessdate=December 2, 2011}}</ref><ref name=AAbust>{{cite news|last=Rushe|first=Dominic|title=American Airlines files for Chapter 11 bankruptcy protection|url=http://www.guardian.co.uk/business/2011/nov/29/american-airlines-chapter-11-bankruptcy|accessdate=November 29, 2011|newspaper=The Guardian|date=November 29, 2011|location=London}}</ref> |
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==Honors== |
==Honors== |
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*[http://www.nytimes.com/2008/04/21/opinion/21crandall.html?_r=1&scp=1&sq=Charge%20More,%20Merge%20Less,%20Fly%20Better&st=cse Charge More, Merge Less, Fly Better] - A ''New York Times'' op-ed by Crandall |
*[http://www.nytimes.com/2008/04/21/opinion/21crandall.html?_r=1&scp=1&sq=Charge%20More,%20Merge%20Less,%20Fly%20Better&st=cse Charge More, Merge Less, Fly Better] - A ''New York Times'' op-ed by Crandall |
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[[Category:1935 births]] |
[[Category:1935 births]] |
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Revision as of 22:37, 29 December 2013
Robert Lloyd "Bob" Crandall (born December 6, 1935 Westerly, Rhode Island) is the former president and chairman of American Airlines. Called an industry legend by airline industry observers, Crandall has been the subject of several books and is a member of the Hall of Honor of the Conrad Hilton college.[1]
Life
Robert Crandall was raised in Rhode Island.[citation needed] He graduated from the University of Rhode Island, and from the Wharton School of the University of Pennsylvania, with an MBA.[2]
In 1966, he joined TWA, where he worked for six years. In 1972, he left to become a senior financial officer at Bloomingdale's Department Stores, but he returned to the airline industry in 1973, as senior financial vice president of American.[2]
Before the passing of the 1978 Airline Deregulation Act, Crandall was one of the act's loudest opponents. In 1982, he had a famous conversation with Braniff CEO Howard D. Putnam, in which he told Putnam that if Braniff raised their prices, American would too. Crandall has publicly expressed embarrassment over that conversation. That same year, Crandall became American's president. In 1985, Crandall succeeded Albert Casey as American's chairman and CEO.[3]
During the latter period of Crandall's tenure as CEO, investor concern over airline bankruptcies and falling stock prices caused Crandall to remind his employees about the dangers of investing in airline stocks. Known for his candor, Crandall later told an interviewer, "I've never invested in any airline. I'm an airline manager. I don't invest in airlines. And I always said to the employees of American, 'This is not an appropriate investment. It's a great place to work and it's a great company that does important work. But airlines are not an investment.'" Crandall noted that since the airline deregulation of the 1970s, some 150 airlines had gone out of business. "A lot of people came into the airline business. Most of them promptly exited, minus their money," he said.[4][5]
In 1997, Crandall received the Horatio Alger award. In 1998, he retired from American and he went on to work as director of many other companies, including Celestica, Haliburton, and Anixter. He is the 2001 recipient of the Tony Jannus Award for outstanding leadership in the commercial aviation industry.[6]
Crandall is credited with creating the first frequent flyer program in the airline industry, the AAdvantage program, as well as pioneering modern reservations systems through the creation of Sabre. He is also credited with pioneering yield management.[7] Crandall also serves as a senior adviser and sits on the board of AirCell, an in-flight telephony company which won the larger of two licenses for air-ground data service that provide in-flight broadband service.[8]
Since airline deregulation in 1978, a number of factors which define the airline industry in the USA have plummeted. Subsequently, by 2010, every major airline had filed for bankruptcy at least once, except American Airlines.[9] When asked to comment on the situation in June 2008, Crandall stated,
The consequences of deregulation have been very adverse. Our airlines, once world leaders, are now laggards in every category, including fleet age, service quality and international reputation. Fewer and fewer flights are on time. Airport congestion has become a staple of late-night comedy shows. An even higher percentage of bags are lost or misplaced. Last-minute seats are harder and harder to find. Passenger complaints have skyrocketed. Airline service, by any standard, has become unacceptable.[10]
Finally, on November 29, 2011, AMR Corporation (American Airlines Holding Company) joined the rest and filed for Chapter 11 bankruptcy protection.[11][12]
Honors
- Hall of Honor of the Conrad Hilton college.[1]
Awards
- Horatio Alger award, 1997.
- Tony Jannus Award for outstanding leadership in the commercial aviation industry, 2001.[6]
- L. Welch Pogue Award for Lifetime Achievement in Aviation, 2004.
- Wright Brothers Memorial Trophy from the National Aeronautic Association, 2006.
References
- ^ a b "Robert Crandall". Hrm.uh.edu. Retrieved 2010-08-06.
- ^ a b "Robert Crandall (biography)". University of Houston. Retrieved 2008-04-01.
- ^ "DePaul University College of Law". Law.depaul.edu. Retrieved 2010-08-06.
- ^ Greenberg, Peter, Inside American Airlines: A Week in the Life, CNBC Documentary Feature, October 18, 2006
- ^ Roeder, David, Stock Seer Sees No Reason Dow Won't Continue Steady Growth, sub. Fear of Flying, Chicago Sun-Times, October 22, 2006
- ^ a b "Tony Jannus Award past recipients". Tony Jannus Society. Retrieved 2008-04-01. [dead link]
- ^ "Robert Crandall 1935— Biography". Referenceforbusiness.com. Retrieved 2010-08-06.
- ^ "News Releases". Aircell.mediaroom.com. 2003-09-11. Retrieved 2010-08-06.
- ^ "Epidemic of Bankruptcy". Associated Press. Nov. 29th 2011. Retrieved 23 May 2012.
{{cite news}}: Check date values in:|date=(help) - ^ Bill McGee, March 2008. [1], USA Today.
- ^ Isidore, Chris (Nov 29, 2011). "American Airlines and AMR file for Chapter 11 bankruptcy". CNN. Retrieved December 2, 2011.
- ^ Rushe, Dominic (November 29, 2011). "American Airlines files for Chapter 11 bankruptcy protection". The Guardian. London. Retrieved November 29, 2011.
External links
- "SOMETHING SPECIAL IN THE AIR?", PBS News Hour, May 20, 1998
- "WEBCAST: A CONVERSATION WITH ROBERT L. CRANDALL", DePaul University
- Charge More, Merge Less, Fly Better - A New York Times op-ed by Crandall