Word: pascagoula
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Abie-Bodied Seaman Earl Gilbert, 52, of Pascagoula, Miss.: "After the Marines came, God I felt good. Damn good. Those Marines are great. Ford did a damn good job, but I just want to thank those Marines...
...seen light at the end of a tunnel. Profits of the troubled conglomerate in 1972, he confidently predicted, would increase substantially over their lackluster showing of $50 million in 1971, and one reason for the gain would be Litton's $ 130 million shipyard in Pascagoula, Miss. Ash calls the ultramodern facility, opened about two years ago, "a national asset that will make U.S. shipbuilding competitive in world markets...
...months since then, Litton's light has dimmed considerably. The company lost money during two quarters of its 1972 fiscal year, and will close the books later this month with what Ash now calls only a "small profit." The trouble stems in large part from the Pascagoula yard, which has produced a small armada of labor problems, construction delays, cost overruns-but so far very few ships...
Game Plan. The Pascagoula plant is also far behind on construction of eight container ships for the Farrell and American President lines. Now scheduled for completion next fall, the first such vessel will be 21 months behind schedule and will cost about double its contract price of $21 million, making it the most expensive general cargo ship ever built. Litton will doubtless pay heavily for the overrun...
...lately. But last week the company regained some of its old luster by snaring one of the biggest defense awards in history-a $2.1 billion Navy contract to build 30 destroyers. The vessels will be constructed during the next eight years by Litton's Ingalls Shipbuilding Division at Pascagoula, Miss...