Word: beech
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Dates: during 1970-1979
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...used for weekend joyrides to a $6.5 million, 18-seat Grumman Gulfstream executive jet crammed with the latest airborne electronics. In between are the twins, turboprops and smaller jets operated by some 2,200 air-taxi operators and 200 commuter airlines. This year alone, companies such as Cessna, Beech and Piper will deliver 18,000 aircraft worth $1.8 billion to customers around the country...
Outside major cities (where a cord of firewood can cost up to $90) good hardwood, such as ash, hickory, oak, hard maple, beech or black locust, can be had for little or nothing. Both national and state forests encourage homeowners to cut down and remove deadwood from specified areas, and many private owners encourage the same practice, since it helps clear the way for new growth. Geri Harrington, a lively Connecticut woman who has written an excellent new guide, The Wood-Burning Stove Book (Macmillan; $12.95), lists many other sources of free wood, such as utility companies, which constantly...
Often a company looking for a merger is in some sort of trouble, but both Beech and General Dynamics are in strong shape. With military sales accounting for 55% of General Dynamics' total revenues ($2.5 billion last year), the firm is the nation's largest defense contractor. With nearly a decade of squabbles with the Pentagon regarding cost overruns on the F-111 fighter now behind it, General Dynamics' current multi-billion-dollar contract to produce 500 hot, single-engine F-16 interceptors for four NATO countries and the U.S. promises to keep earning income...
...Profit Records. A Beech deal would open up a new field for General Dynamics' aerospace expertise. At Beech, which is the nation's second largest maker of light aircraft (after Cessna), the big moneymaker has been the twin-engine turboprop King Air executive craft; it is popular with corporate customers because, although slower than a jet, it is more fuel-efficient and cheaper to buy (price: $600,000 to $1.6 million, depending on equipment, v. up to $3 million for some jets). Until now, Beech has shied away from entering the executive-jet business. But some industry experts...
Though Olive Ann Beech never learned to fly, her managerial skills brought the company through some problems at the turn of the decade, when the Viet Nam-warped economy hit sales hard. Rebounding from a loss of $7.7 million in fiscal 1970, the company has set new profit records in each of the past four years. So, far this year, sales are 22% ahead of 1976, when the company earned $20 million on revenues of $346 million. Thanks in part to rapidly growing defense business-in the past two years Beech has won more than $150 million in contracts...