Word: dc
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Dates: during 1960-1969
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...York's Idlewild Airport last week, a trim, white-painted jetliner, smaller than the familiar Boeing 7075 and Douglas DC-8s. roared off the runway and headed south on Delta Air Lines Flight 873 to New Orleans. In 2 hr. 19 min., the jet touched down at New Orleans' Moisant International Airport, loaded another batch of passengers, and whistled back to New York in 2 hr. 10 min. Both flights, at speeds up to 593 m.p.h., set new commercial records for the 1,184-mile run and sent the nation's newest jetliner off to a high...
...course of five days, successive quakes trapped and killed rescue workers trying to dig out survivors from the first disaster. France offered a stethoscope device successfully used in Agadir in March to detect still breathing victims trapped beneath the rubble. The U.S. naval attache in Teheran flew a DC-3 down to the stricken city with emergency supplies and took out survivors. At week's end Queen Farah, who is expecting her first child this fall, offered to take 200 motherless children of Lar into the royal orphanages...
...dark day for Douglas Aircraft's Donald Douglas Sr., who had to suffer through a 2½-hour meeting and shouts of "baloney" after announcing "an extremely disappointing" $6,949,002 loss for the quarter, due mostly to extra-heavy development expenses on the DC-8 jetliner program. At Columbia Broadcasting System, Chairman William S. Paley had an unruly meeting on his hands, with irate stockholders complaining over lower earnings (slightly less than 1959's 87? for the first quarter), the payola TV scandals and a handful of other problems. Said Chairman Paley: "We used to look forward...
Novacap President Israel Pinheiro bounced into a small clearing in a DC-3 and surveyed his site: a cool, green plateau cut into a V by the tawny waters of two streams, the Fundo and Bananal. "I spent 18 months with my wife in a single room in a wooden bunkhouse," says Pinheiro. "I stayed there for propaganda. If it was good enough for me, it was good enough for everybody." A whip-tongued engineer, Pinheiro bounced over crude roads in his Jeep, barking endless orders over his radiotelephone: "This is Novacap No. 1 calling...
Such changes make it fairly certain that Douglas will become a smaller company. On the bright side is the fact that Douglas has already substantially written off costs of its DC-8, has thus taken its licks early and is in a good competitive position to profit on jet sales from now on. The company also has plenty of cash ($35 million) and working capital ($154 million), and recently tied up with France's Sud-Aviation (TIME, Feb. 22) to market the twin-jet Caravelle, thus enabling itself to cover both the long-and short-range jet field...