Word: millions
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Dates: during 1960-1969
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...seldom been reluctant to embrace either technological change or the challenge of great national projects. It is a sign of the questioning times that disquiet now attends a project of just such dimensions: the supersonic transport aircraft. Last week, when President Nixon announced his decision to spend $96 million this year and more than $1 billion later on to underwrite SST development, the cheers came mainly from the manufacturers and airlines that stand to profit most...
...Million a Plane. Yet the SST raises a troublesome question: what is its proper place in the scheme of national priorities? Granted that money saved by delaying the SST would not likely be spent in the ghettos, it is still debatable whether a supersonic transport is a better investment than, say, an aircraft that could take off and land downtown. Every previous generation of aircraft has been cheaper, safer and more comfortable than the one before, but the SST is only faster. It will be no more comfortable and no more economical to operate than the 362-passenger Boeing...
...Government has spent $450 million so far on feasibility and design studies. Nixon's proposal would commit the Government to invest another $1.3 billion to build two prototypes. After that, Boeing and its suppliers are expected to finance the early production costs, which will bring the overall total to about $3 billion. Under a tough contract with Boeing, Washington will recover its investment when the 300th aircraft is sold. The Government will turn a $1 billion profit if sales reach the Federal Aviation Administration's predicted minimum of 500 by 1990-a return that works out to less...
...factor affecting the size of the market-and the fares-will be the selling price of the SST, now calculated at $40 million a plane. The price of developing new airplanes has an unsettlingly steep rate of climb. The Concorde's development costs so far have almost quadrupled to $1.72 billion, and the price tag has risen from $ 12 million a plane to $21 million...
20th Century Sound. In a market of 500 SSTs, Boeing's profit will be a handsome $3.5 million on every $40 million aircraft sold. The SST will create 25,000 new jobs at Boeing, and another 25,000 among a host of subcontractors, chiefly General Electric, which has engines virtually ready to attach to Boeing's airframe. To forestall criticism that the SST will create few jobs in the ghettos, Boeing is seeking more black engineers...