Newspapers / Piedmont Aviation Employee Newsletter / April 1, 1981, edition 1 / Page 2
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2 Piedmont Stock soars Piedmont Aviation stock is be ing "discovered” by investors, es pecially the larger investors around the country, and as a consequence the stock has soared. ‘‘Due to our higher levels of earn ings in 1980 and good traffic vol ume in the first quarter of 1981, our stock has received a great deal of attention from investment firms,” Tom Morton, senior vice president. Finance, said. "Most of the high volume of trading in the last couple of weeks is primarily due to purchases by institutional investors such as banks, insurance companies, and other money managers." Several brokerage firms have also issued favorable reports on PI stock. Interstate Securities and Oppenheimer Co. of New York first recommended Piedmont last October. Merrill Lynch Pierce Fenner and Smith Inc. recom mended the stock in early De cember. In March, A.G. Becker Inc., a Chicago-based investment firm issued a strong buy recommenda tion to its clients. Piedmont stock reached a high of 25% before the dividend was issued March 16. As a result of the stock dividend, market prices were reduced by 20 percent. If predivi dend prices were adjusted propor tionately, more recent stock prices would be higher. “The earnings level of the Com pany fully justifies the higher pri ces,” Morton said. "The price of our stock is now more in line with what it should be.” And The Winner Is.. . David C. Lowe of Raleigh, an N.C. State University Jan. was the grand prize winner in Piedmont’s ACC I.Q. Test. His name was drawn from over 800 entries which an swered the eight questions about the Atlantic Coast Conference cor rectly. "Skeeter" Francis (left), as sistant to the commissioner for the ACC, and Bill McGee, Market ing, held the drawing February 17. Lowe received four boolcs of tickets to the ACC basketball tournament, free round-trip air transportation on Piedmont for four people to Washington, D.C., and hotel accommodations dur ing the tournament, held in Landover, Md., in March. Playing for high stakes Piedmont employs almost 6,000 people throughout its system. Most are honest, hardworking people who take pride in their work. That's a primary reason Piedmont is "Up-And-Coming" to day. But what happens if some one tries to cheat the system? Last year, a veteran employee holding a responsible position did just that, and lost. The employee, who had an excel lent service record, was caught embezzling money from the Com pany. He stole a few thousand dollars, not much when you con sider all he lost. He gave up a good salary, medical benefits, and re tirement. He also had to face his family and friends as well as appear in Federal Court where he received a stiff fine and probation. “The theft of one item, no mat ter how small, can lead to disas trous results," Dennis O'Madigan, director of security, said. “If we didn't prosecute, the thousands of honest Piedmont people would have to share the cost and blame for the veiy few dishonest ac tions.” In 1980, 16 employees lost their jobs at Piedmont for thefts from either customers or the Company. All faced court action. “We don't enjoy prosecuting an employee," O'Madigan said, “but we have no choice. We can’t let our honest employees pay for the mis takes of a few.'’ General Aviation announces new fixed base facility Buy us. Savings Bonds. Take . stockXs«o-^ state aero club tours Piedmont maintenance facility The Norfolk Port and Industrial Authority has accepted Piedmont's proposal to invest $2.4 million in a new fixed base facility at Norfolk Airport. Joe H. Culler, executive vice pres ident of the General Aviation Group, said that the investment includes $1.75 million in new facil ities and $650,000 in equipment, furnishings, and inventory to ex pand operations. The new facility will be more than twice the size of Piedmont’s existing facility, built more than 20 years ago. “We’re now in a position to give Norfolk a general aviation facility which will rank among the best throughout the nation," Culler said. The Authority's decision was based on a set of 12 criteria rang ing from revenue the Authority could anticipate receiving to the magnitude of operations Piedmont expected to conduct. The final vote awarding Piedmont authority to build the facility was unanimous. Piedmont will initially employ 50 people in its expanded facility. Some 100 members and guests of the North Carolina Aero Club toured Piedmont's Winston-Salem maintenance facility February 22. Luncheon speaker for the club's “fly-in" was Joe Culler, executive vice president of Piedmont’s Gen eral Aviation Group. “Prior to 1973, when the nation’s economy got bad, one of the first things to go was the company air plane," Culler told the Aero Club. "We saw less of that in 1973, and almost none recently." Culler said that 60,000 general aviation aircraft are operated by 30,000 companies today, and that more than 1,000 aircraft are being built annually. The “fly-in" was arranged by George Johnson, sales representa tive, INT, for the General Aviation Group. Facility tours were conducted by volunteers Ron Oliver, director- shop maintenance, Chris Dannelly, senior engineer, Ken Nail, aircraft scheduling coordinator, and Wright McCartney, industrial engineer. April 1981 volume 32. number 2 Nrvv's iibiuii Plt'clnioDi Thr Up AndCninlni; Airllix' published for and about Piedmont people by the Public Affairs Department, Winston-Salem, North Carolina Rosalind D. Chostner, editor Chenyl Shamel, associate editor
Piedmont Aviation Employee Newsletter
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April 1, 1981, edition 1
2
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