Word: rohrs
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What went wrong? Just about everything. Rohr, says one analyst who follows the company, "tried to do too much too fast." It underestimated the cost of new vehicles and spent more than it could afford-about $15 million in the past three years-on research and development of its dream vehicles and other new products. The 1974-75 recession wiped out orders just when the company desperately needed an influx of new business to cover development costs (its high sales came from longstanding orders). In addition, Rohr got into disputes with customers over the quality of those vehicles...
...speeding the movement of people from home to office was well positioned to prosper. Not so: when inflation and recession struck, city fathers and taxpayers rebelled against any projects that did not seem absolutely essential. Among companies caught with unfulfillable dreams of tomorrow, none has suffered more than Rohr Industries, Inc. of Chula Vista, Calif...
During the early 1970s, executives of Rohr, primarily an aerospace subcontractor, boasted that they would help rebuild the nation's surface transportation system. They planned futuristic trains, air cushions and people-movers (transmission belts carrying people rather than baggage). With equal enthusiasm, they spoke of new vistas in space communications and automated mail systems. It added up to a grand adventure into uncharted terrain-a bit too grand...
...More People-Movers. For a time, Rohr sold enough vehicles to long-planned transit systems to push sales to nearly half a billion dollars last fiscal year. Nonetheless, it reported a $7 million loss, its first in 15 years. That was followed by a deficit of $47 million for the first nine months of fiscal 1976, which ended May 2. The company has suspended all dividend payments and is asking 18 banks and insurance companies to work out a new credit agreement (the lenders have already waived most provisions of a $110 million long-term loan). Meanwhile, the company...
...celebrations began Friday when an antique private train carrying Lampoon members and alumni arrived from New York. The train did not return yesterday as planned, however. "Apparently one of our alumni got a little drunk and tried to set it on fire," said George Rohr '76, Lampoon President...