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When the CIA conceived the plan to raise a sunken Soviet submarine from the Pacific seabed, the agency turned to Hughes for cover. Summa organized the construction of the Glomar Explorer, under the guise of an oceanic mining and exploration ship. Its real mission remains the subject of suspicion. Despite Government denials, there is speculation that the ship may have been performing different duties-like implanting a weapons systern on the ocean floor. Last week the Government sought to dispel those suspicions by allowing newsmen to visit the huge barge that accompanied the Glomar Explorer on the mission. The craft...

Author: /time Magazine | Title: TYCOONS: THE HUGHES LEGACY SCRAMBLE FOR THE BILLIONS | 4/19/1976 | See Source »

Meanwhile, Hughes, who learned to fly as a teenager, built his own highly advanced H-l racer in which he set a world speed record of 352 m.p.h. in 1935. Three years later, Hughes, who was already predicting the era of ocean-spanning aircraft, flew round the world in 91 hr. 14 min., breaking the old record by four days...

Author: /time Magazine | Title: TYCOONS: THE HUGHES LEGACY SCRAMBLE FOR THE BILLIONS | 4/19/1976 | See Source »

...company has also developed techniques to decrease costly "bounce" dives-twelve hours of on-deck decompression for every half-hour on the ocean floor. Descending in a pressurized diving bell, an Oceaneering diver can work underwater shifts of four hours or more with only four days off out of every 15 for decompression. Another innovation: an experimental suit that encases a diver in normal atmospheric pressure at great depths, thus eliminating the need for decompression altogether...

Author: /time Magazine | Title: CORPORATIONS: Rapture of the Deep | 4/19/1976 | See Source »

Handelman has made the future he sought; with Oceaneering stock trading at about $10 over the counter, his 346,479 shares are worth $3.5 million. At present, it seems that the only way his business can go is up. Today, about 20% of the world's oil and gas comes from beneath the ocean floor. By 1985, according to some economists, undersea wells will account for 45% of the supply of those fuels...

Author: /time Magazine | Title: CORPORATIONS: Rapture of the Deep | 4/19/1976 | See Source »

...location of the Palmdale bulge has added to scientists' concern. The swelling lies along a stretch of the 600-mile San Andreas Fault, a deep fracture that runs from below the Mexican border to about 100 miles north of San Francisco, where it meets the Pacific Ocean. The fault is actually the boundary of two tectonic plates, huge sections of the earth's outer layer that are sliding in opposite directions. A western sliver of California, on the Pacific plate, is moving northwest. The remainder of the state is being carried by the North American plate toward...

Author: /time Magazine | Title: Science: The Palmdale Bulge | 4/19/1976 | See Source »

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