Word: 5a
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Dates: during 1970-1979
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...Megalifter would require a takeoff speed of no more than 70 m.p.h. and a runway distance of only about 2,400 ft. to become airborne, and could cruise at 205 m.p.h. Many of its components, such as the cockpit, engine controls and landing gear, are identical to the C-5A's, which would reduce design and manufacturing costs for the giant craft...
...Office of Systems Analysis in Robert McNamara's Defense Department. The second-term Democrat from Wisconsin has waged an all-out war on military waste and cost overruns. He helped expose ballooning costs at Litton Industries' naval shipbuilding yards and mechanical troubles with Lockheed's C-5A cargo plane. Aspin also led the move that cut $1 billion from last year's Defense authorization and shot down flight pay for admirals and generals whose active flying days are behind them...
...operation. On Wednesday, Oct. 10, the Department of Transportation was asked to help the Israelis find air charters. On that same day the Russian airlift to the Arabs began. On Thursday I instructed MAC to make plans for the possible use of large military aircraft such as the C-5A, because I anticipated that there might be a change in national policy. The Defense Department also urged immediate representation to the Portuguese asking permission to use their base on Lajes in the Azores...
Close brushes with financial catastrophe have become an unwitting specialty of Lockheed Aircraft Corp. In 1971 the aerospace giant faced bankruptcy because of cost overruns on the C-5A transports it was building for the Air Force; the Pentagon eventually let it escape with a $200 million loss. Almost immediately, Lockheed's effort to build the L-1011 TriStar nearly crashed before the jumbo jet ever got off the ground when Rolls-Royce, builder of the plane's engines, went bust, eventually saddling Lockheed with $190 million in unplanned expenses. That time it took an act of Congress...
Interest Load. The problem, briefly, is debt. Lockheed owes $600 million to banks, $200 million of which is covered by the Government loan guarantee, and $100 million to the Defense Department as reimbursement for C-5A cost overruns, due in ten annual installments beginning in 1974. In addition, it must keep up interest payments on, and perhaps eventually redeem, $138 million in convertible debentures. Interest payments on all its varied debts are running around $80 million a year...