Word: backlogs
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McDonnell is betting that new money and his own management will not only help unsnarl Douglas' production lines, choked with a $3.2 billion backlog in jet-airliner orders, but build a team able "to compete successfully for any future aerospace program." Lewis, a Georgia Tech-educated aeronautical engineer who will move into Douglas as soon as the merger is final, last week got an idea of the size of his job. The company did not even match Donald Jr.'s dismal prediction last July that fiscal 1966 "earnings, if any, would be nominal." It announced a $27 million...
...have been continuously occupied in recent years in raising large amounts of new capital, in the first instance to meet a backlog of accumulated need. There have been two widely publicized successes in the effort. The first was the Program for Harvard College which ten years ago set out to gain $82.5 million and in the end it succeeded in raising $103 million. When the task of providing in Lehman Hall a center for the non-resident Dudley House is completed in January 1967 and when the tenth undergraduate house, now on the architect's drawing board, opens in September...
...financial problems and the fact that its assembly lines at its Long Beach, Calif., plant are inefficiently laid out, Douglas was not lacking in merger offers. After all, the backlog in orders for its big jets has now reached $3.2 biilion, part of it for the DC-8-62, which is the world's farthest-flying commercial jet, with a range of 5,750 miles. Thus, even as Douglas' money problems got worse, plenty of bidders beside McDonnell showed up. Among them were Signal Oil & Gas, Fairchild Killer, General Dynamics and North American Aviation...
...FM/AM radios, stereo consoles, portable phonographs, and a TV-radio-phono combination called Color Stereo Theater. For industry, the firm produces computerized-data storage units, and the new Xerox-marketed Magnafax-a copying machine that transmits and receives facsimiles of documents, memos and letters via standard telephones. Magnavox backlog-virtually all of it in military orders for walkie-talkies, radar units, aircraft and mobile ground communications equipment, satellite signal receivers, and submarine-detecting "Sonobuoys"-stands at $152 million. As if all that were not enough, Magnavox has entered the wooden-furniture business, and it is entering the organ field with...
Plagued by plunging stock (from a 1966 high of 112 to a close last week at 451), soaring operating losses ($16.4 million for the first three quarters of '66) and a bloated backlog of unfilled orders ($3.2 billion worth), Douglas desperately needs about $400 million in new financing. The company for weeks has been negotiating with eight major banks to borrow most of that amount...