Word: ltd
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Dates: during 1970-1979
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...aerospace firm is Lockheed. It is struggling for survival after two grave errors. The company contracted to develop and build the huge C-5A cargo plane for the Air Force at a price that later seemed arbitrarily low. And it decided to bank on Britain's Rolls-Royce, Ltd. to deliver engines for its 256-passenger L-1011 TriStar super jet for a price too good to be true. Both the C-5A and the Rolls-Royce engine turned out to be riddled with "unk-unks," industry slang for "unknown unknowns." Last October, after cost overruns...
Under normal circumstances, the offer that the British government made to Lockheed Aircraft Corp. last week would sound like something to be turned down flat. But the circumstances were very far from normal. As operator of the now nationalized Rolls-Royce Ltd., the government proposed to deliver engines to Lockheed, six to 18 months late, the early models less powerful than Lockheed wanted, at a price perhaps 40% higher than Lockheed had expected to pay. In addition, Lockheed would have to form a production partnership with the British government and share some development costs-which could be quite expensive...
Acutely aware of their vulnerability, Japanese companies are sending teams of geologists and businessmen all over the world to scout for new sources and bid aggressively for existing supplies. The first of two new high-level missions, headed by Wataru Tajitsu, chairman of The Mitsubishi Bank, Ltd., will leave Japan this month to search out new oil sources in Australia, Papua and New Guinea. Japanese crews are exploring for oil-or preparing to do so -from the Persian Gulf to the Gulf of Siam, in Alaska, Colombia...
...financial and emotional shock waves started by the Rolls-Royce Ltd. bankruptcy two weeks ago are continuing to build in intensity. Last week there was considerable hindsight analysis of just how the calamity had happened -and a string of man-bites-dog oddities. The Guardian bannered a warning to foreigners: BETTER NOT BUY BRITISH. In Parliament, Socialists assailed the Conservative government for shabby treatment of a giant U.S. company, Lockheed Aircraft-a theme echoed on the placards of 1,000 Rolls workers who marched outside in one of the world's rare pro-American demonstrations. On the London Stock...
...appoint a receiver for Rolls. To its extreme embarrassment, the Tory government intends to introduce legislation this week that would nationalize all of Rolls except the auto and oil-engine divisions. Production of the cars will continue, though possibly under a change of ownership; Britain's Jensen Motors Ltd. is likely to bid to buy the profitable car division. A U.S. Cabinet member told TIME that the nationalized Rolls-Royce would continue building engines for Lockheed. But British officials declared emphatically that a state-run Rolls would make no more jet engines under the "impossible" Lockheed contract (Lockheed...