Word: itek
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Nathan Higginbotham, manager of corporate planning for Government programs at McDonnell Douglas, prime contractor for the F18, agrees that part of the reason costs climb is "the inability of both the military and the manufacturers to fix a design and then stay with it." Richard Wollensack of Itek Corp., a high-tech optics company, argues that advanced capability is what gives the U.S. its military muscle. Says he: "If you know that the other guy's tank sights are good up to six miles, you certainly are going to try to design yours so that they're good...
...highflyers of last spring have lately been almost all in the dumps. Chief among them are energy and defense stocks, hit hard by slumping oil prices and less certain Administration defense commitments. Itek, an optical systems maker that could benefit from the iffy Stealth bomber project, dropped from $42 in May to $21 per share. Other defense issues that were off sharply: General Dynamics, down from $33 to $25; Martin Marietta ($68 to $51); United Technologies ($59 to $44); McDonnell Douglas ($37 to $30); and Raytheon ($49 to $40). Among energy stocks, Cities Service, a strong gainer only a short...
...Whitney jet-engine-parts plant, and old New Haven, Conn., where G & O Manufacturing Co. is building a new $5 million automotive radiator factory. The most glittering showcase is the string of high-technology companies ringing Boston on the Route 128 beltway led by giants like Polaroid, Raytheon and Itek. Massachusetts' 300 hi-tech firms now employ 150,000 workers...
There are also some modest investments in companies that were once thought to have promising futures as investments, but have faded of late: Intel, Coherent Radiation, Scan Data. At least one case involved a company that Nelson's brother Laurance had bankrolled: Itek. Says Reginald Oliver, director of research at Pershing & Co.: "Lots of trusts absolutely wouldn't be permitted to buy such things...
Munter who is the psychiatric consultant for the Itek Corporation, will try to develop an industrial psychiatry program at Harvard. This program will deal with such matters as drinking problems that affect work, and absenteeism for emotional reasons...