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I gave up trying to make sense of the situation at that point. :)
But my angle is that it's just a load of marketing bollocks, designed to suggest that Timex supplied Pan Am with watches.
A company that has nothing to do with Pan Am, has licenced the right to use the name from a company that has nothing to do with Pan Am (aside from owning the rights).
Much like the "Holdsworth" you can buy from Planet X and in the same vein as fake patina.
I don't know why particularly, but I'm disappointed that Timex would pull this kind of shit.
Scilly.Suffolk
If that's the angle, it should be CSX Transportation at this point.
But I'm pretty sure it's only meant to refer to the hay day of the Pan Am Airways itself.