Word: closings
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Dates: during 1970-1979
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Almost certainly, McDonnell Douglas will survive the travail of the DC-10. At worst, James ("Old Mac") McDonnell, the company's octogenarian chairman, would close the Douglas division and face a few tough years. Alternatively, the Pentagon could step in with a Lockheed-type federal bailout to protect its No. 1 supplier, though that will probably not be necessary. Military officers who have long been dealing with the company agree on one thing: "Old Mac is probably madder than hell that he ever picked up Douglas...
Nixon picked up the thread. He went to Moscow in 1972 as an unpredictable and dangerous opponent to the Soviets, the man who had just bombed and mined Haiphong. He succeeded in opening a channel to Brezhnev and invited him to Washington. That channel soon began to close. On the day that Brezhnev headed home from the U.S., John Dean began his Watergate testimony on the Hill. Nixon's political life was rushing toward its end, and the Kremlin sensed it. Gerald Ford was no master of the details of nuclear arms control at Vladivostok that November, but again...
...government has commissioned Fluor Corp. to build two new plants for $6.7 billion that will produce more than 80,000 bbl. of oil per day by 1983. The process requires 1 ton of coal for 1 bbl. of oil. South Africa keeps cost figures secret, but outside estimates of close to $30 per bbl. make conversion only a longterm, expensive solution to U.S. energy needs. However, a small test plant has been built in Catlettsburg, Ky., with federal, state and private money. It will open this fall and produce 1,800 bbl. of oil daily from 600 tons of coal...
...analysts believe that many Western states could start to follow this example. Geothermal energy exists in volcanoes, geysers and hot springs, and can be tapped by sinking wells roughly 2,000 ft. into the reservoirs of superheated water and steam that are sandwiched between layers of rock close to the earth's molten lava. Steam rises to the surface, where it can be used to power turbines that generate electricity, and is then allowed to flow back underground for natural reheating and reuse...
There are three problems. The reservoirs often can be as difficult to find as oil deposits; they are close to the surface in only a few areas; and the steam usually has a relatively low temperature that is not very efficient for turning turbines. But the energy is essentially inexhaustible, environmentally benign and, above all, free...