Word: costly
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
Proposals for Chicago's badly needed third jetport include a floating airport constructed of aluminum modules and reached by helibus and Hovercraft. Architect Stanley Tigerman estimates it would cost a relatively modest $500 million. Closer to approval, however, is a $1 billion dike-protected jetport 35 ft. to 55 ft. below the water level of Lake Michigan and connected to the Loop by six miles of causeway, tunnel and bridge. Says Chicago's Aviation Commissioner William Downes Jr.: "The main objection comes from the save-our-lakefront fraternity who don't realize that an airport six miles...
Overruns and Cutbacks. The C-5A, at 728,000 Ibs. the world's largest aircraft, has been under intense scrutiny since a Pentagon cost analyst in January leaked reports of ballooning expenses. Rather grudgingly, the Air Force and other sources revealed that the procurement bill had climbed from an anticipated $3.5 billion for 115 of the planes to $4.4 billion for 120 of them. Congressional critics charge that the "overrun" resulted mostly from Lockheed's attempt to win the contract by making an unrealistically...
...cost of each Cheyenne has risen from an expected $1.4 million to about $2.4 million. The immediate cause of the cancellation, however, was the Army's disbelief that a "satisfactory aircraft would be delivered." Rotor stability and control problems had shown up in tests of ten prototypes, one of which crashed. Some critics believe that the Cheyenne was a classic example of "brochuremanship"-the practice of selling the Pentagon on a new weapons system even before the contractor is reasonably certain that it can perform to specifications. Lockheed's Chairman Daniel Haughton protested last week that the Cheyenne...
Corned Beef and Competition. Cost overruns have been standard procedure in American military history. There were corned beef scandals during the Civil War, and the West was won partly on padded Government contracts for shot, powder, rifles, bully beef and hardtack. Today's excesses can hardly be blamed on defense-industry "profiteering." While U.S. industry's overall return on investment rose from 7.1% in 1967 to 10.1% last year, the defense contractors' profits have dropped from an average 10.1% to around...
Estimating on Hope. British, Swedish and West German builders have taken losses on the oilbergs. Because of technological quirks, the cost of a 200,000-tonner cannot be arrived at simply by doubling everything involved in turning out a 100,000-tonner. Germany's Howaldtswerke was seven months late in delivering the 191,000-ton Esso Malaysia because it sagged so badly on the trial run that it had to be reinforced with an extra 500 tons of steel. Sir John Hunter, chairman of Britain's Swan Hunter, concedes that "some of our costing estimates are still largely...