Word: thunderstreak
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Dates: during 1950-1959
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...Spark Plug Division as metallurgist, chief tool-and-die designer, assistant works manager. During the Korean war he managed the Kansas City, Kans., Buick-Oldsmobile-Pontiac plant, made his mark by converting it into G.M.'s first dual-purpose plant, turning out cars and F-84F Thunderstreak jet fighters at the same time. For his good work, he was made chief of Harrison...
Ever since the Government accused General Motors last July of making $17.4 million in excess profits on a contract to build 599 F-84F Thunderstreak jet fighters (TIME, Aug. 5), G.M. has jittered at the prospect of a court case and possible bad publicity. Last week Louisiana's F. Edward Hebert, whose House Armed Services Subcommittee had brought out the original charge, announced that G.M. has moved to settle with the Government. It offered to refund a total of $9,701,458 to the Air Force. Already in the hands of the Air Force is a check...
Before a House Armed Services subcommittee last week Lawrence J. Powers, the General Accounting Office's top auditor on defense contracts, leveled an angry blast at the nation's biggest corporation. Said Powers: on a $375.9 million contract to supply 599 F-84F Thunderstreak jet fighters to the U.S. Air Force between 1952 and 1955, General Motors made an actual profit of $42.2 million v. a "contemplated" profit of $24.8 million. Part of the $17.4 million extra, said Powers, could be attributed to good management. But $8,322,000 resulted from "overstating" and overestimating anticipated expenses. Three times...
...manufacture. The U.S. alone makes eight different types of British power plants, has turned out 15,000 British-licensed engines for 13 types of American planes since World War II. e.g., North American's FJ-4 Fury, Grumman's F11F-1 Tiger, Republic's F-84F Thunderstreak...
...first big strike of the year 12,000 members of the International Association of Machinists walked out of the Republic Aviation plant at Farmingdale, N.Y., and three smaller branches (including a guided missile plant). The company has $500 million in Government orders, mainly for the F-84F Thunderstreak and RF-84F Thunderflash...