Word: aircrafting
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...could take advantage of the transition in Washington to violate the U.N. coalition's no-fly zone in southern Iraq. He miscalculated. On Dec. 27 a pair of Iraqi MiGs committed the double offense of entering the zone and then turning to confront U.S. F-16s. The American aircraft shot down one MiG; the other fled to Iran. Iraqi officials blasted the incident as "blatant aggression." President Bush said the shootdown was consistent with the need to enforce U.N. resolutions, and President-elect Bill Clinton gave him solid support. A day later, even as the U.S. aircraft carrier Kitty Hawk...
...scramble to realign the nation's defense industry in the face of sliding Pentagon budgets has taken another major turn. Lockheed Corp. will buy General Dynamics' military aircraft operations for $1.5 billion. Though Lockheed chairman Daniel Tellep termed the deal "financially attractive," industry analysts were cautious. Sales of General Dynamics' F-16, among the most successful military aircraft in history, are sharply down, and Lockheed now has two-thirds of the F-22 Stealth fighter program, whose future is uncertain in the tight budget climate...
Northwest, for example, barely averted a Chapter 11 crash landing by securing $2.2 billion in new financing and cancellation or delay of a whopping $6.2 billion in orders for new aircraft. And just a week after industry leader American Airlines was forced to let go 576 of its managers, Delta chairman Ronald Allen conceded that layoffs and pay cuts may be necessary at his carrier too. Perhaps the most dramatic evidence of the industry's deepening distress is TWA's decision in effect to call in the cavalry. Chrysler chairman Lee Iacocca, who will retire at the end of this...
...clear. We are not talking about suitcases stuffed with tens and twenties. The multi-billion dollar narcotics trade must be likened to an aircraft carrier: It simply is impossible to move that much money without the cooperation of an awful lot of rich and conneced people--many, among the most respect members of society...
Some folks say the B-2 STEALTH BOMBER is worth its weight in gold, but that's not true: it is now worth three times that, thanks to defense cutbacks. The Air Force says the aircraft cost $44.4 billion to develop. The Pentagon originally planned to build about 130 but has scaled its orders back to 20, or a cool $2.2 billion apiece. And costs may rise, since the Air Force is having trouble getting the much vaunted Stealth radar-evading technology to work properly...