Word: contraction
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Dates: during 1970-1979
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Like its mammoth defense competitors Northrop and Raytheon--and unnamed others--Lockheed apparently has directed enormous sums to Saudi Arabia's flashy contract agent, Adnan Khashoggi, and his mysterious Triad Corporation. Lockheed officials reportedly payed Khashoggi $106 million in the last five years: the ante is high, but in the unreal world of big-money defense contracts, the stakes are higher still. In Europe, Africa and the Middle East, uneasy rulers are channeling huge sums into sophisticated weapons systems, and American companies are fighting with each other and with foreign competition to obtain slices of the increasingly lucrative...
Haughton claimed that he and the rest of Lockheed's corporate management did not usually know where its payments ended up. But he defended the practice's usefulness: "If you get the contract, it's pretty good evidence that the payments had to be made...
Bankrolled by assurances from government agencies and contract infusions from the Pentagon brass, dependent Lockheed is a twisted model of traditional American "competitive free enterprise." The "perfect competition" of an Ec 10 problem set disappears into the power and reach of the corporate Goliath, and nowhere is this more apparent than in the defense industry...
More than 200 Harvard dining hall workers last night enthusiastically ratified a new one year contract that gives them a 50-cent-per hour across the board pay raise...
...money will be made elsewhere, and it will be needed. For his 15 rounds-or less-in the ring, Frazier has been guaranteed $2 million. Ali will, of course, do better. His contract with Impresario Don King, the bout's promoter, calls for more than twice that sum. If the fight sells well at closed-circuit television outlets in the States, both fighters could double their take...