North Carolina Newspapers

    me pieamoniTon
Report To
See Page Three
VOL. XI, NO. 2
Directors Declare Stock Dividend;
Stockholders Elect Morton To Board
A ten per cent stock dividend was declared by the Board of
Directors of Piedmont Aviation, Inc., at their annual meeting. Payable
June 2 to stockholders of record May 15, this marks the third stock
dividend ever declared by the company,
commenting on the action
In commenting on
taken by the Directors, President
Davis said, “In view of heavy
toancial requirements in connec-
with our equipment program
'd the loss experienced in 1988
the Board felt it was in the best
interests of the Company and the
stockholders to declare a stock
dividend at this time in lieu of
the cash dividends that have been
paid to Piedmont’s shareholders
regularly since 1984.”
Preceding the Directors’ meet
ing, the annual meeting of Pied
mont’s stockholders was held
where the Company’s Vice Presi
dent—Finance and Secretary T. W.
Morton was elected to the Board
of Directors. The stockholders also
re-elected all the present directors
of Piedmont. Those directors are:
President Davis; Senior Vice
Presidents Brown, Northington and
Saunders; E. L. Davis, E. L. Davis,
Jr., Charles E. Norfleet, John F.
Watlington, W. Frank Dowd and
Ralph W. Gardner. The stock
holders approved a plan authoriz
ing the Company to purchase on
the open market a maximum of
10,000 shares of Piedmont’s Com
mon Stock to enable the Company
to meet its commitments under the
1967 Employee Stock Option Plan
without issuing additional common
stock. Also at the Directors’ meet
ing all of Piedmont’s officers were
re-elected. They are: T. H. Davis,
President and Treasurer; H. K.
Saunders, Senior Vice President;
R. S. Northington, Senior Vice
President; C. G. Brown, Jr., Senior
Vice President; T. W. Morton, Vice
President—Finance and Secretary;
W. W. Barber, Vice President-
Purchasing; H. M. Cartwright,
Vice President—Maintenance and
Engineering; W. G. McGee, Vice
President—Sales; K. E. Ross, Asst.
Vice President—Traffic; W. 0.
Tadlock, Asst. Vice President—
Flight Operations; R. E. Turbiville,
Asst. Vice President; A. F. Long,
Asst. Controller; J. R. Farley,
Asst. Secretary; and Mrs. Rilla M.
Gregg, Asst. Secretary.
Mr. Morton fills the vacancy on
the Board created by the death of
Mr. Bowman Gray.
T. W. Morton
New Director
April, 1969, was the largest single
passenger traffic month in Pied
mont’s history. A total of 204,995
passengers flew on the Pace
This marked the first time the
200,000 passenger mark was ex
ceeded in a calendar month.
Another record set in April was
an all-time high for Revenue Pas
senger Miles. A total of 53,428,525
rpm’s was listed in the final statis
Are You Taking Advantage Of Your
Employee Stock Purchase Plan?
The recent stock dividend de
clared by Piedmont’s Board of
Directors was good news not just
to a lot of “unknown stockholders”
but to a number of employees as
At the end of December last year
there were 204 Piedmont employees
buying stock through payroll de
duction. They bought an average
27 shares each last year, paying
average of $13.46 per share. All
0 g e t h e r employees purchased
4,128.08 shares and invested a total
of $55,498.64 in the Company’s com
mon stock. The stock dividend
means that for each ten shares an
employee owns as of May 15 he
will be given another share.
During the first quarter of this
year employees purchased 844
shares for a total investment of
$13,774.20. The average price paid
per share was $16.45. At the end
of March there were 179 partici
pants in the stock purchase plan.
This is a decrease of 12.25 per cent
in the number of employees who
take advantage of the payroll de
To help you keep up to date on
the amount you pay for stock each
month the Piedmonitor will publish
a periodic report of the number of
shares purchased, the average
price per share and the total in
vestment in the previous month.
If you are not already partici
pating in the stock purchase plan,
you need to request the necessary
forms from accounting for payroll
deduction authorization. You can
have any round dollar amount with
held, subject to a minimum pay
ment of $10 per month and to a
maximum of 10% of your pay. The
stock purchase plan is handled by
the Trust Department of Wachovia
Bank in Winston-Salem. An indivi
dual account is maintained for
each participant. All your money
goes toward the cost of stock only.
Piedmont pays all the expenses of
your investment program except
the Bank’s termination charge
which is $5 each time you make
a withdrawal from the plan.
The number of employees partici
pating in the Stock Purchase Plan
is not wholly indicative of the total
number of employees who own
stock. In addition to those who
purchase through payroll deduction
there are 183 other employees, not
including joint accounts, who own
Piedmont stock.
THE 49TH STATION opening certainly deserves a ribbon cutting cere
mony as evidenced by President Davis, at left, sharing the scissors with
Newark's Deputy Mayor Paul Riley. Looking on are Edwin Sorenson,
center back, manager of the operating services division of the Port of
New York Authority and Carl P. Oswald, director of the Economic
Council of the Greater Newark Chamber of Commerce. The charming
young ribbon holders are daughters of New York areas sales manager
Vincent Dieringer, Betty Jeanne, left, and Mary Ellen on the right.
Newark Becomes
First All Jet
Station For PI
Piedmont added the 49th station
and 80th city to its system when
service was inaugurated to New
ark, N. J., on April 1. Besides add
ing a new state. New Jersey, to
Piedmont’s system, Newark is also
the first, and as yet, the only, of
Piedmont’s stations served totally
by Boeing 737 jets.
The initial pattern of service
offered flights from the Garden
State to Lynchburg, Winston-Salem,
Asheville and Atlanta. On April
27th two additional flights expand
ed the service to include Roanoke,
Fayetteville and Wilmington.
The inaugural flight was greeted
by representatives of the Mayor’s
office, the Chamber of Commerce,
Port of New York Authority and
Delta Air Lines. Delta is handling
Piedmont’s operation at Newark.
Newark’s Deputy Mayor, Paul
Riley, and President, T. H. Davis,
cut a ribbon commemorating the
start of the new service and ex
changed keys for the mayors of
Newark and Winston-Salem.
From all reports the Newark
flights have been well received by
Piedmont’s passengers.
Vice President—Purchasing, W.
W. Barber, has announced the ap
pointment of Henry G. Duffer as
Director—Supply Systems.
A native of College Park, Ga.,
Duffer is a graduate of Georgia
Institute of Technology, School of
Industrial Engineering. Prior to
joining Piedmont he was with the
Data Processing Systems and Tech
nical Operations Planning Depart
ment of Delta Airlines in Atlanta.
Mrs. Duffer is the former Jean
Etheridge of Charleston, Miss. They
have five children.
Duffer’s responsibilities will be
to revise and establish systems
related to purchasing, shipping and
receiving, provisioning, stores and
inventory control. Particular em
phasis will be placed on those sys
tems which involve the application
of Data Processing equipment.
Director — Supply Systems
City Sales Manager — ROA
General Sales Manager, Sheri
Folger, has announced the promo
tion of Donald E. Holliday to City
Sales Manager for the Roanoke
area. Holliday has been Piedmont’s
Sales Rep. in Roanoke since last
A native of Pulaski, Virginia,
Holliday graduated from the public
schools there and attended East
Tennessee State University.
He worked for Eastern Air Lines
in Washington, D. C., prior to join
ing Piedmont seven years ago as
an agent in Roanoke.
Mrs. Holliday is the former
Barbara Warner of Pulaski. They
have a daughter and a son and
live at 5854 Santa Anita Terrace in
Citizen of tlie Year
Winston-Salem Dispatcher, Larry
Overby, was recently named Citi
zen of the Year by the Lions Club
of King, North Carolina. Overby
has been with Piedmont as a Dis
patcher since 1952, prior to that
he was with the FAA as a control
tower operator. Overby, who is a
native of Lynchburg, Virginia, was
selected on the basis of his exten
sive work with young people in
King. Since 1955 he has been an
official in little league and high
school sports activities. He has
served as President of the Win
ston-Salem Umpires Association.
Overby is also an assistant scout
Pilot Wives’ Club
A note from Janet Adams was a
report of the formation of the At'
lanta Piedmont Pilots Wives’ Club.
Having been active since Septem
ber of last year they now have a
membership of 25 and are growing
every month. Their monthly meet
ings, held on the last Thursday,
sound interesting and varied. They
issue a news letter, “Under Pied
mont’s Wing” and are inviting all
Atlanta Piedmont Pilots’ wives to
join. For further information con
tact Mrs. Joan Benedict at 366-9354
or Mrs. Doris Turner at 478-1880 in
Station Manager Change
By mutual agreement Station
Managers Bob Bennington and Dan
Berry have exchanged stations.
Dan Berry is now manager at
Augusta and Bob Bennington is at
Interline Winners
Two Piedmont agents were re
cent winners in an Allegheny spon
sored “Partners In Progress” In
terline Contest. Jenny Reynolds of
the Memphis station and George
Scheren from Baltimore won tran
sistor radios. The first prize color
television was won by a United res

Page Text

This is the computer-generated OCR text representation of this newspaper page. It may be empty, if no text could be automatically recognized. This data is also available in Plain Text and XML formats.

Return to page view