The Rise and Fall of the Airline Industry

Lorenzo Carney was a manager of financial analysis at TWA, an airline headed by Floyd Hall. A year later at 26, he resigned to go into business with a soft spoken classmate from New England who worked for two new or investment houses. The two formed Lorenzo Carney and company, although the company at the time was a secretary. They thought we could make some money in airlines, Carney recalls. Each partner put up $1,000.