Word: grummans
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Dates: during 1940-1949
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...bright blue morning last week, the crew of a National Airlines DC-4 had cause to file an indignant complaint: "three Grumman-type fighters" buzzed their plane as they were passing over Dover, Del. Another complaint soon followed : the captain of an Eastern Air Lines Constellation reported that a Navy fighter howled toward his ship "on a collision course" as it was passing near Willow Grove, Pa. and did not veer off until it was only 150 yards away...
...Profits. For the first half of its fiscal year, Douglas Aircraft Co. had a profit of $424,951, compared with a loss of $752,307 in the corresponding period last year. For the nine months ending in June, North American Aviation, Inc. netted $1,258,185 (v. $303,847). Grumman Aircraft Engineering Corp., which had been flying at high altitude, came down some: for the first half of the year it had a profit of $1,027,707, down more than 21% from last year...
...economy last week felt a strong new shot of inflation. The prospect of higher prices and steady profits-and the announcement of Air Force and Navy orders (see Aviation)-pushed the bull market to a new high. The parade was led by oil and aircraft stocks, notably Grumman, which felt prosperous enough to declare a 100% stock distribution (the stock rose five points in two days). The Dow-Jones industrial average...
...will build 585 more F80 Shooting Stars and trainers, plus 82 Navy patrol planes; Republic another 409 F-84 Thunderjets; Curtiss-Wright 88 F87 multiple-jet fighters and reconnaissance planes. Despite the crash of a Flying Wing model last fortnight, Northrop got an order for 30 Wings. Douglas and Grumman walked off with the lion's share of the Navy orders, around $50 million apiece for fighters and attack planes...
Many of the other plane companies and airlines were worse off than Douglas in 1947. But their shares went up anyway. Curtiss-Wright and American Airlines hit new highs for the year. One profit-making exception was Grumman Aircraft Engineering Corp. which earned $2.2 million last year. Its shares went up to 41½, eleven points above the year...