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...turmoil overseas and in Washington is endangering Lockheed's survival?with important consequences for the economies of California and Georgia, where Lockheed is a major employer, and the national defense, since Lockheed is the nation's No. 1 defense contractor. The giant company (estimated 1975 sales: $3.25 billion) was saved from bankruptcy in 1971 by the Government's guarantee to repay $250 million in private bank loans. But the General Accounting Office, which conducts audits for Congress, has expressed doubt that Lockheed can repay the loans on schedule by 1978?and the Government is unlikely to extend the guarantee. Burns...

Author: /time Magazine | Title: SCANDALS: THE BIG PAYOFF | 2/23/1976 | See Source »

...David Storey's plays, this one, bravely produced by the Manhattan Theater Club, is the strangest. In Home, The Changing Room and The Contractor, each of which won the New York Drama Critics' Circle Award as the best play of its season, Storey austerely refused to proffer any hints as to the specific meaning of the work. In Life Class, he scatters clues with abandon, rather like confetti at a wedding, which often blinds viewers to the event it is intended to celebrate...

Author: /time Magazine | Title: The Theater: In a Mood for Rape | 1/5/1976 | See Source »

...four thick safety belts intersect in a bulbous metal codpiece. As my two-ton Chevy Silverado truck edges toward the starting line, all I can feel is the plastic barf bag stuffed in the pocket of my flame-resistant jumpsuit. Behind the wheel sits Walker Evans, 36, a general contractor from Riverside, Calif, who has won 14 of his past 17 off-road races. As the green flag rises, the final spectator salute of uplifted cups of Coors reminds me of a well-wisher's warning: "Walker won't stop if you get sick...

Author: /time Magazine | Title: Sport: 115-m.p.h. Madness | 12/22/1975 | See Source »

...other distressing testimony to Congress, Robert Hardy, a Camden, N.J., building contractor, described his experience as an FBI informant. At bureau direction he planned, encouraged and directed a raid by antiwar protesters on a Camden draft board. Said Hardy: "They were the most nonviolent, well-intentioned people I ever met in my life. I'm not proud to say that with respect to breaking into the draft board, I taught them everything they knew...

Author: /time Magazine | Title: THE FBI: The Crusade to Topple King | 12/1/1975 | See Source »

...shield the names of high officers who accepted company favors in violation of Defense Department conflict-of-interest rules. The officers accepted invitations to spend weekends shooting duck, geese and quail at Northrop's leased hunting preserve near Easton, Md., even though the company, a major defense contractor, is currently angling for a multibillion-dollar contract to build 800 F-18 jet fighters for the Navy...

Author: /time Magazine | Title: SCANDALS: Crossing the Line? | 10/13/1975 | See Source »

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