Word: aircraft
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Dates: during 1950-1959
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Developed by Engineer Leonard S. ("Luke") Hobbs. now United Aircraft's vice chairman, the J57 has been in production since 1953, powers Boeing's eight-engine B-52 heavy bomber and four-engine KC-135 jet tanker-transport, Convair's supersonic F102 interceptor and five other military planes. Soon the even bigger J75 will go into two more important planes, Convair's supersonic F106 interceptor and Republic's F-105 fighter-bomber. To add to its horsepower riches, Pratt & Whitney has important military contracts for a smaller J52 jet engine and a T57 turboprop...
Another area where the major companies could look for new profits is in the big market for light civilian plane engines. Of the estimated 24,500 engines 'built in the U.S. last year, more than half were for civilian aircraft, most of them small business or personal planes. Enginemaker Lycoming, with half a dozen small piston engines already in production, is busy developing a light turboprop engine for greater speed and altitude. Continental has moved into baby jets, looks forward to a big market for its 920-lb.-thrust jet as the power plant for Cessna...
...airman thinks that the Air Force will let a big segment of the vital U.S. aircraft-engine industry wither away. But the immediate future looks thin. Said one Pentagon policymaker last week: "I would like to see a more even distribution. But for all these jet-engine people, it is just too bad that Pratt & Whitney is so uniformly good...
...selling off plants of Pratt-Whitney, a subsidiary machine-tool maker (no connection with the aircraft-engine firm), Silberstein raised $4,500,000 in cash, then leased back the plants for 30 years at a total rental of $30.9 million...
...golden boys in the Golden Twenties, none glittered brighter than a fast-talking, fast-thinking young empire builder named Errett Lobban Cord. At one time or another, Cord had control of New York Shipbuilding, Stinson Aircraft, American Airways, and Auburn Automobile Co., which built the Cord car, now a highly prized collector's item among classic-car buffs. In the great Depression, Automan Cord's empire dissolved. Since then, he has been living quietly in Nevada, making money in real estate and serving as a state senator. Last week Automan Cord was back making the kind of glamorous...