Word: motoring
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...expense of building the world's biggest airplane when it eagerly underbid Boeing to get the contract in 1965. Partly because of inflation, overrun costs totaled $1.1 billion. Lockheed's defense woes were compounded by some troubles with its contracts to build the Cheyenne helicopter, the motor for the SRAM (or short-range attack missile) and military ships. The Government has partially reimbursed Lockheed for some of its losses, but all together the four programs could conceivably wind up costing the company $1 billion...
Among the biggest companies in the top ten, General Motors was No. 1, as always, in sales, followed by Standard Oil of New Jersey, Ford Motor Co. and General Electric. IBM moved up to fifth place, and Chrysler down to sixth, just ahead of Mobil Oil and Texaco. The largest gain among the big ten was made by that exclusive club's sole newcomer and only conglomerate, ITT, which scored a 34.6% sales increase, boosting it into ninth place, ahead of Gulf Oil. U.S. Steel, a member of the club since the list was first published in 1955, dropped...
...Ford Motor Co. is allowed to proceed with this plan, it would amount to aiding a well-known and declared enemy. If you will recall, it was the Russians who said, "We will bury you." Why should we help them...
...hold its annual kiteflying carnival on the spacious Mall between the Capitol and Washington Monument. Then when a local lawyer named Frederic Schwartz Jr. filed suit for kite privileges, the Park Police really cracked down. They arrested four kitefliers one weekend and eleven the next, using horses and motor scooters to enforce law and order on the grass. One sergeant leading a miscreant away was heard to bark: "The charge is kiteflying." (Penalty: a $10 fine for each offense...
...vast, $800 million automobile plant at Togliatti in the Caucasus. Production, delayed by material shortages, is scheduled to begin in July, but Moscow hopes eventually to get 660,000 cars a year from the plant. Last week Henry Ford II announced that the Soviet Union had invited Ford Motor Co. to participate in the construction of a mammoth truck-building plant at Naberezhnye Chelny, east of Kazan. Its production capacity of 150,000 heavy-duty trucks a year would be larger than anything in the U.S., but Russia obviously needs that much and more; it is currently producing fewer heavy...