Word: sst
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Dates: during 1980-1989
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Heady with the euphoria of the early jet age in the 1960s and expecting one or more big Government contracts like the C-5A transport plane, the TFX fighter aircraft or the SST supersonic, Boeing grew fat and sloppy. Seattle's nickname for the firm was particularly apt: "The Lazy B." The company plunged ahead anyway and kept turning out short-haul 737 and 747 jumbos amid bottlenecks and shortages. Then the market collapsed due to the 1969 recession and earnings slumped, from $83 million in 1968 to $10 million the following year. Boeing in the late 1960s...