Word: orions
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Dates: during 1970-1979
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...from cargo aircraft to missiles and electronics-to say nothing of secret projects undertaken at Lockheed's "skunk works," which turned out, among other things, the U2. Negotiations are under way between the Japanese de fense agency and the U.S. Department of Defense for the sale of 44 Orion antisubmarine aircraft, a deal that would bring Lockheed more than $1 billion over the next decade...
...fires have been lit, the actual ignition is hidden deep within the interstellar clouds. "Nature very discreetly pulls the curtain over the act of birth," says Thaddeus. But the infant star soon makes its presence known, shining through and illuminating the obscuring cloud. This process is occurring in the Orion Nebula (see color page), the illuminated portion of a gigantic cloud of gas and dust that is giving birth to new stars. Some of the stars spawned by the nebula have been formed as recently as the time when the human species first stood upright; the newest offspring are only...
...when the star has exhausted much of the hydrogen near its core and starts to burn the hydrogen in its outer layers. This process causes the star gradually to turn red and swell to 100 times its previous size, pouring out prodigious amounts of energy. Betelgeuse, in the constellation Orion, is such a "red giant," visible to the naked eye. When the sun undergoes a similar metamorphosis, it will envelop Mercury and Venus and vaporize the earth. By that time, 5 billion years from now, man's descendants may have found a new home in an outer planet...
EQUITY FUNDING CORP., now Orion Capital Corp. Record high stock price (1969): $86. Low before suspension of trading (1973): $14. Last week: $5. Los Angeles-based Equity was a darling of the insurance industry until March 1973, when Ray Dirks, a Wall Street insurance analyst, was told by a tipster that many of Equity's outstanding policies, perhaps $1 billion worth, had been sold to people who did not exist. In three wild weeks, Dirks raced around the country, confirmed the tipster's story, and told clients to get out of the stock. Equity declared bankruptcy...
...reorganization was run by a court-appointed trustee, Robert Loeffler, a lawyer and former senior vice president of Investors Diversified Services, a mutual-fund complex. Loeffier supervised the settling of $400 million in claims, appointed a new board of directors, and resigned. The company, operating under the name of Orion, is now based in New Jersey and run by Alan Gruber, a former Xerox executive. It still sells insurance through two healthy companies acquired by Equity. It emerged from reorganization in March, and last month its stock began trading publicly again after a long suspension. The company turned a profit...