Word: dc
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Dates: during 1960-1969
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...also a shrewd and determined bargainer, and he has long had his eye on the Douglas Aircraft Co. He tried a takeover in 1963, only to be rebuffed by Donald Douglas Sr., now 74, an old friend who helped McDonnell get started 28 years ago with orders for DC-3 parts. Last year McDonnell began buying Douglas stock again, and last week he was flying as high as one of his F-4 Phantom jets. After a long board meeting, Douglas announced that it would merge with McDonnell through an exchange of stock; as a starter, McDonnell will...
...fourth largest U.S. aircraft maker-after Boeing, North American Aviation and Lockheed. The merger will produce benefits for both partners. McDonnell, which has always built military aircraft, will be able to spread its product line, increase its earnings with such well-regarded commercial airplanes as the Douglas DC-8 and DC-9. And Douglas, with McDonnell's backing, should now be able to get loans of about $400 million that bankers were loath to make because of Douglas' shaky financial position. Badgered by delays in parts deliveries and shortages of skilled workers, Douglas in its last financial statement...
...after that, as a project engineer at the Glenn L. Martin Co., then started his own plant at the St. Louis airport with $165,000 in savings and money borrowed from, among others, Laurance Rockefeller. Gaining experience and financial strength as a subcontractor on such planes as the DC-3, McDonnell eventually designed and built his own, convinced the Navy that it could fly faster and perform better on two jet engines than on one. McDonnell, with his company now deeply committed to space projects, still takes an engineer's interest in design work. And the next DC passenger...
...financial problems and the fact that its assembly lines at its Long Beach, Calif., plant are inefficiently laid out, Douglas was not lacking in merger offers. After all, the backlog in orders for its big jets has now reached $3.2 biilion, part of it for the DC-8-62, which is the world's farthest-flying commercial jet, with a range of 5,750 miles. Thus, even as Douglas' money problems got worse, plenty of bidders beside McDonnell showed up. Among them were Signal Oil & Gas, Fairchild Killer, General Dynamics and North American Aviation...
Five years ago, two-thirds of Hawaii's visitors saw only Oahu. Today, two-thirds of them see at least one Neighbor Island. And why not? Maui and Kauai are only $12.57 and 18 minutes away by DC-9 jet; Hawaii's Kona airport is a mere 43 minutes and $16.95 by turboprop Convair. Air-taxi services also operate to the 15 state and private airstrips on the islands, offer island-hopping tours for as little...