Word: cutback
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Dates: during 1950-1959
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...BOMBER CUTBACK jolted the aircraft industry, resulted in 2,000 layoffs at North American Aviation, less drastic reductions at subcontractors Boeing, Lockheed and Chance Vought. Already stuck for $500 million in development costs, the Air Force has trimmed its $3.5 billion program for 62 combat-ready planes, has given North American the go-ahead on only two prototypes, which will be ready...
...much ballyhooed report, released yesterday, the committee also proposed that any cutback in hours on Saturday nights during the football season be balanced by an extension to midnight on the preceding Friday...
...peace scare," Wall Street agreed that the market was due for a technical correction after a headlong rise from last spring, saw the break as an opportunity for earnings and dividends to catch up with soaring prices. The drop was accelerated by news of the exotic fuel cutback (see Aviation) and poor earnings in aircraft companies...
...Government last week took an old-fashioned ax to the next generation of U.S. military aircraft in what may well be the start of a new cutback in aircraft and missile programs. The Air Force announced that it was abandoning plans to produce high-energy boron aircraft fuels at Olin Mathieson Corp.'s two-city-block, $45 million plant near Niagara Falls, which was scheduled to deliver its first batch of exotic fuel this month. It also canceled a contract with the General Electric Co. for producing the J-93-5 engine to power North American Aviation...
...ahead with its J-93-3 engine, which accounts for $90 million of its $100 million contract with the Air Force. The J-93-3 is conventionally fueled, is scheduled to go into both North American's B70 and its F108 fighter. Officials insist that the boron cutback itself does not mean a cutback in the B70 bomber program, but only an alteration in the bomber to make it wholly conventionally fueled, and that the cutback has no relation to the F-108, which was programed to use conventional fuels all along. But many aircraft men feel that both...