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...SST decision was just the latest of many blows to the aerospace industry. The industry's biggest customer, the Defense Department, has cut back considerably on its orders for military planes and missiles. Following the course of the nation's disengagement from Viet Nam, defense funds have been pared for two straight years. The decreasing fervor for space feats has also hurt. The National Aeronautics and Space Administration this year has a budget of $3 billion, or a little more than half as much as three years...

Author: /time Magazine | Title: Business: Aerospace: The Troubled Blue Yonder | 4/5/1971 | See Source »

...program and order massive job chopping (see box, page 78). Aerospace firms now employ just over one million Americans, down more than 25% from three years ago. The total is expected to shrink by year's end to 962,000, the lowest since 1958. Boeing, the contractor for the SST, expects to "bottom out" this year in the Puget Sound area at 29,500, down from 44,000 at present. Pink layoff slips will be sent to 7,000 at Boeing early this week...

Author: /time Magazine | Title: Business: Aerospace: The Troubled Blue Yonder | 4/5/1971 | See Source »

...testing phases of a project. It is then that thousands of specialists have to draw patterns, cast molds, make tools ?and build, test out and put together countless parts. Once a craft goes into production, machines can take over a much bigger part of the work. Because the SST was at a stage in which it had high manpower requirements, the Senate vote last week was a severe shock to the industry...

Author: /time Magazine | Title: Business: Aerospace: The Troubled Blue Yonder | 4/5/1971 | See Source »

...possible that the SST will rise again, if some future Congress decides that it is an economic or political necessity. Congress may well be forced to such a decision by international competition in the supersonic field. Two competitive planes, the Anglo-French Concorde and the Soviet TU-144, have been undergoing test flights for more than a year. Although British and French officials are still debating whether to continue bankrolling the Concorde, it is scheduled to begin commercial service in 1974. The Soviet TU-144 may make a dramatic appearance at the European Air Show this...

Author: /time Magazine | Title: Business: Aerospace: The Troubled Blue Yonder | 4/5/1971 | See Source »

From its inception as a largely Government-funded experiment in 1963, America's SST has drawn critical fire. No less a Jovian figure than Charles Lindbergh publicly questioned its advisability, and scientists were debating its possible faults right up to the moment of the vote. Although some of the rhetoric was wrapped in unconscionably scary language, there were at least two reasonable grounds on which to question the plane's viability. Ecologically, the SST would have been a noise polluter unless equipped with extra gear that would severely reduce its payload. Economically, it could have been an aerial Edsel...

Author: /time Magazine | Title: Business: Aerospace: The Troubled Blue Yonder | 4/5/1971 | See Source »

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