Word: sst
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Dates: during 1970-1979
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...SST Challenge...
...most distressing result of the industry's current misfortunes is the hardship borne by its laid-off workers. Many of the men and women who stopped working on the hornet-nosed SST prototype at Boeing last week had long service in the company. "I've been working on this plane for five years, and what really disappoints me is that I'll never get to see it fly," said one. "You really get attached to them...
...sales to foreign buyers amounted to $3.4 billion. If the U.S. loses the lead in aerospace, its balance-of-payments deficit (already running to $5 billion annually) could worsen considerably. Says Richard Marshall, vice president of DMS Inc., a defense marketing research firm: "The Senate vote on the SST lost us what might have been our leading export item from...
Even before the SST vote, it was clear that government at all levels should be doing far more for retraining the displaced persons of aerospace. Having en couraged many of them to pursue narrowly technological careers in a patriotic enterprise, the nation's officials are all but duty-bound to provide a chance for them to use their skills. Last week's action in the Senate only strengthened that obligation by freeing SST funds for other purposes. Another reason the lawmakers should be eager to help: if aerospace unemployment becomes an overwhelming problem, there may be rising public pressure...
...companies, or at least those that worked on the SST, apparently have something coming from the Government. Under the Transportation Department's contract with Boeing, most of the private contractors' expenses are probably recoverable, though their hoped-for profits certainly are not. Boeing alone expects to collect $52 million from Washington. Since each of the big corporations still holds sizable Government contracts, there is a chance that all will survive, though some in considerably diminished form. Still, aerospace is a merger-prone industry, and it would not be surprising if Lockheed or some of the industry's larger subcontractors found...