Word: aircraft
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Dates: during 1970-1979
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...explosions are literally rocking the theater, it comes as a surprise that the engineers in charge have twiddled the dials on their mixing console with a delicacy that would do credit to a concert pianist fingering his way through some Chopin filigree. Especially impressive is the handling of an aircraft carrier's flight-deck operation -from the first cough of the first motor to the roar of an entire squadron...
...Fast. Predictably, the recovery has had widely varying impacts in different parts of the country. New York State and New England, handicapped by high fuel prices, wages and taxes, are emerging most slowly from the recession. California is only beginning to recover, because two of its main industries-aircraft and construction -still have almost empty order books. Aided by a demand for textiles, the Southeast is starting to revive. Atlanta's $2 billion subway building program is providing a boon. The Midwest and Southwest generally are recovering the quickest, thanks largely to their successful mix of highly diversified industries...
...Link trainer" for instrument flight, has managed to move out of aviation and into oceanography, and now explores the underwater world in a clear, bubble-shaped plastic submarine of his own design. William Lear, who has invented radios, airplanes and steam-powered vehicles, is now working with a Canadian aircraft company to develop a small, quiet and highly fuel-efficient jet plane...
Executives of the crisis-prone Lockheed Aircraft Corp. are well aware of the risk in seeing a light at the end of the tunnel: they can never tell when it might be another freight train heading Lockheed's way. Last week, however, the light that Chairman Robert W. Haack saw turned out to be for real. Lockheed's 24 creditor banks approved a plan to restructure the company's debt in a way that clearly eases the aerospace giant's financial woes, though it does not solve them...
...agreement with the 24 banks was delayed by Haack's darkest day at Lockheed, when Canada abruptly pulled out of a $1.06 billion order for 18 Orion antisubmarine patrol aircraft. "I tell you," says Haack, "you haven't known heartbreak until a billion-dollar deal is canceled on you on two minutes' notice." The order collapsed over a billion-dollar misunderstanding: Ottawa and Lockheed each thought the other was to be responsible for financing early stages of the contract. But Lockheed may still not have lost the Canadian business: Haack has submitted a new proposal stretching...