Word: aircraft
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Dates: during 1950-1959
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...start by trading his holdings in L. Albert & Son, a family rubber-mill and plastic-molding machinery business that he inherited from his father (1954 gross: $1,246,000), for 82% of the 1,300,900 shares of Bellanca, then a corporate shell which had some aircraft-parts contracts. Thus, he got a listing on the American Stock Exchange, and a ready market for stock. Albert promptly bought or traded into major interests in a grab bag of some 70 companies, including control of Waltham Watch Co. and Pierce Governor, of which he became chairman...
Tiny TV Camera. Lockheed Aircraft Corp. has pared down a TV camera to 1¾ by 2 by 5 in., sufficiently small and light to tuck into the thin wings of supersonic jet fighters. With such cameras set to watch the vertical stabilizer, landing gear and other parts of a new plane, pilots can see what is happening to a jet as it happens, rather than filming the action, watching the event from films afterward. Other possible uses include walkie-talkie-lookie...
...contemplated by the proposed foreign-aid cuts (which International Cooperation Administrator John Hollister last week estimated would more than halve the allowance for NATO's military hardware over the next fiscal year).' Gruenther said that the full West German contributions of twelve divisions and 1,380 aircraft will not be available for three more years. Not until then will NATO really be strong enough to defend West Europe against Russia...
Army Air Power. At the time of the Key West agreement, the Army had about 200 aircraft, used mostly for liaison and artillery spotting. Today it has about 4,000 (helicopters, light planes, transports) and is grasping avidly for more, which it says it needs to provide airlift and close support for its divisions. Lieut. General James Gavin, farseeing chief of Army Research and Development, says that "20,000 planes for the Army might not be enough." Last week the Army officially demanded long-range, high-speed aircraft to track its missiles. The Army grab for air power is seen...
...shake Ford's hand. In Wilmington, Del., General Motors President Harlow H. Curtice, who is worried about FRB's tightening of credit (see box), told stockholders that sales were seriously down, but noted that higher production by other G.M. divisions-notably Electro-Motive diesel and Allison aircraft en gines-would take up some of the slack...