Word: sunk
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Dates: during 1970-1979
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...service, have been dramatically slashed, from $5.8 billion this fiscal year to $4.7 billion next. This will permit the construction of only 15 new vessels instead of the 29 planned by the Ford Administration's budget projections. Not since Pearl Harbor, protest some Navymen, have so many ships been sunk at one time. This reduction, moreover, appears to be only the first of many. The Administration's five-year shipbuilding plan, submitted in late March, gives the Navy 70 new ships, costing $32 billion, through fiscal 1983. This is only half of what the service says it needs. But, says...
...from all its NATO allies except Canada. The Atlantic Alliance's ability to repel a Soviet invasion depends on reinforcements and supplies arriving from the U.S. after the fighting starts. Since airlifts can transport only a tiny fraction of this, the bulk of the critically important resupply could be sunk by Soviet submarines, land-based aircraft and surface vessels. To prevent this, contend Navy officers, U.S. warships, armed with antisubmarine and antimissile weapons, must escort supply convoys across the Atlantic. Not only is this naval capacity needed in case of all-out war, it could be required in some future...
Inflation accounts for part of these huge increases, but mismanagement by the Navy of its shipbuilding program is certainly also a major cause. Construction of warships has fallen a year or more behind schedule, and relations between the service and its major suppliers have sunk to their lowest point in many decades. The Navy, in fact, has been slapped with claims demanding $2.7 billion in payment for cost overruns by the nation's major shipbuilders?General Dynamics' Electric Boat Division, Tenneco's Newport News Shipbuilding and Dry Dock Co., and the Ingalls Shipbuilding Division of Litton Industries...
...included the ninth, one of the most famous and breathtaking par threes in the world. The hole, which measured more than 230 yards on Friday, requires a sheer carry over water from the elevated crows-nest tee to a double decker green. Teravainen whaled on a two-iron and sunk his "oceanliner," one of those long, undulating putts, for his birdie...
...when the Dow closed at 1004, investors' minds had been dominated by fears of inflation, higher interest rates and possible recession, despondency about the dollar and a widespread feeling that the Carter Administration was floundering in economic policy. By last Feb. 28, the Dow had sunk 26%, to 742, at which point stock prices had discounted all the bad news that could reasonably be expected, plus all that could unreasonably be feared, plus a bit more for good measure...