Word: jetstar
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Dates: during 1960-1969
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...manila envelope. Another consortium, headed up by Continental Oil, hired a private train at $12,500 a day to ply back and forth between Calgary and Edmonton for four days while executives prepared their bids in total secrecy; at the last minute, they flew to Anchorage in a corporate JetStar...
...ranch house next to Las Vegas' Desert Inn golf course. Only recently has the slim, dark-haired entrepreneur begun to show signs that the jet-set life might appeal to him. Last winter, he launched a 147-ft. motor yacht and traded up from a Lockheed Jetstar to a white-and-green DC-9 jet in which he installed a lavish office. It was the first such plane in the world acquired for personal use; a second was sold later to Playboy Hugh Hefner...
Naturally, this is causing some pain for planemakers. Lockheed, whose ten-passenger JetStar was the first of the corporate jets, sold 20 of the $1,500,000 planes last year, is doing no better so far in 1967. More troubled is Wichita's Lear Jet, which found itself stuck with $9,000,000 worth of unsold planes, had to merge last spring with Gates Rubber to get needed working capital. The slowdown is not confined to American makers. Britain's Hawker Siddeley, which delivered 65 of its jets to U.S. corporations between 1964 and 1966, sold only seven...
...week, Johnson showed familiar signs of restlessness. Though doctors had advised him not to drive for three weeks, he led the press corps on an hour-long auto chase around tiny Fredericksburg, Texas, after church services. Later, he grew lonesome at the ranch, began commuting 65 miles daily by JetStar to Austin. There he worked for the first time in memory in the ten-room office suite built for him two years ago atop Austin's new federal building-a layout which the G.O.P. branded his Texas Taj Mahal. For all his exertions-or was it because of them...
...Again, in 1959, when Lockheed's Electra turboprops began coming apart in midair, the company's sales of passenger planes crashed with them. Burdened with a $25 million bill for modifying Electras, which have since performed splendidly, and a $31 million loss on its ten-passenger executive JetStar, the company sank $42.9 million into the red in 1960. The next year, Bob Gross died of cancer and his brother moved up from president to chairman...