Word: contractive
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Dates: during 1950-1959
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Before a House Armed Services subcommittee last week Lawrence J. Powers, the General Accounting Office's top auditor on defense contracts, leveled an angry blast at the nation's biggest corporation. Said Powers: on a $375.9 million contract to supply 599 F-84F Thunderstreak jet fighters to the U.S. Air Force between 1952 and 1955, General Motors made an actual profit of $42.2 million v. a "contemplated" profit of $24.8 million. Part of the $17.4 million extra, said Powers, could be attributed to good management. But $8,322,000 resulted from "overstating" and overestimating anticipated expenses. Three times...
...troubles began in the do-it-now days of the Korean emergency, when top Air Force brass farmed out part of a 2,700-plane order for Thunderstreaks because Republic Aviation Corp. was unable to build the jets fast enough. The Air Force gave the contract to G.M.'s Buick-Oldsmobile-Pontiac assembly division at Kansas City, Kans., agreed to pay the automaker all costs plus a 5.9% profit on an initial order of 71 planes, with the understanding that this cost experience would be used in figuring later profits. As it turned out, said Auditor Powers, in subsequent...
...judges' fastened, clinical eyes. Then, with the pomp of a St. James's coronation, the winner was crowned: Leona Gage (Miss Maryland), 21, a dark-haired stunner (5 ft. 9½ in., 118 Ibs.; 36-23-36). The prizes: a $1,000 wardrobe, a $2,000 contract with a cosmetics firm, a house trailer, a European trip, and a chance to compete with 32 other girls for the job of Miss Universe...
...what the FBI called a forged "confession" from the man they said killed Pilot Murphy. The sudden switch appeared to be a belated attempt to end a storm of bad publicity. But, even in the agreement with Ernst & Co., there is an escape clause. If the attorneys break the contract "for failure of cooperation," they will "preserve professional confidence and refrain from issuing any report...
...weight-at least enough for Arnow to see possibilities. He ordered a screen test, soon was excitedly telephoning colleagues: "I've got the girl." Against her parents' advice ("I never could see that sort of business. I still can't," says Mrs. Novak), Marilyn signed a contract starting at $100 a week...