Word: beech
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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...
...Beech and General Dynamics Chairman David S. Lewis have been discussing merger prospects for some weeks. Though Olive Ann could come down with a case of wedding-day nerves once again, some veteran Olive Ann watchers believe that this time her merger intentions are for real. While still vigorous at 73, she is thought by many associates to be anxious to settle the future control of her company while she is still in active command. With some 20% of Beech's stock held by Olive Ann, her two daughters (who have no role in management) and a nephew, Frank...
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...