Word: hillers
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Dates: during 1960-1969
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Halting Costs. Last week an unexpected new entry moved in for a share of the compact-jet market. Fairchild Hiller Corp. of Hagerstown, Md., announced that it will soon begin U.S. production of the F-228, a twin-engine jet that will carry from 50 to 60 passengers, cruise at 500 m.p.h., give optimum performance on the 100-mile to 200-mile hops that are the bread and butter of the regionals. Fairchild will produce the plane in cooperation with Royal Netherlands Aircraft Factories Fokker. Since the Dutch company has already designed the plane and built its prototype...
Though it has yet to win a single order for the F-228, Fairchild Hiller is enthusiastic about its chances. "We could sell at least 40 of them right now if businessmen knew when and if the 7% investment tax credit would be reinstated," says James T. Dresher, general manager of the company's aircraft division. Dresher forecasts that the eventual U.S. market will be 260 to 460 planes, expects worldwide sales to reach 600 or 800 once they begin to roll off the company's production lines in 1970. And along with sales prospects among airlines, Fairchild...
...would recoup everything it laid out in the shape of royalties. Beyond that, the SST, as the biggest single venture ever undertaken by U.S. industry, will create at least 100,000 new jobs across the country. The plane is too big for Boeing to build alone; Avco Corp., Fairchild Hiller, Ling-Temco-Vought, Martin Marietta, North American Aviation and Northrop have already been designated as subcontractors, and Lockheed too may end up with a slice of the work...
...deal are the McDonnell Co. of St. Louis, North American Aviation of El Segundo, Calif., and General Dynamics Corp. of New York City. Admittedly interested in Douglas are New York's Martin Marietta Corp., Venture Capitalist Laurance Rockefeller, the Signal Oil & Gas Co. of Los Angeles, and Fairchild Hiller Corp. of Hagerstown, Md. Signal last week offered Douglas $100 million for 5,000,000 shares of a new issue of 6% preferred stock. Converted to Douglas common stock at the rate of two to one, the holding would give Signal a 30%-and controlling-interest. Also Fairchild Hiller...
...Green-Pea Run. Manufacturers, of course, are as delighted as the Pentagon with the improving technology of military helicopters. This year Fairchild-Hiller, Bell and Hughes will bring out utility and executive models based on military designs. Sikorsky sees a big civilian market for its Skycranes, and the Department of Housing and Urban Development has just put up $490,000 to test whether the Crane can fly a buslike pod of 40 passengers between airports and downtown-at costs competitive with ground travel...