Word: tristar
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Dates: during 1970-1979
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...TriStar L-1011s have never recouped development costs, and the company is resigned to writing off about $400 million of those costs over the next eight years; since the write-offs reduce profits, they have the effect of a guaranteed annual loss...
...Anderson must try to lessen the TriStar drag that has left Lockheed trailing badly behind its chief competitors in the commercial aircraft market, Boeing and McDonnell Douglas. Last year all three had comparable sales: $3.2 billion for Lockheed, $3.5 billion for McDonnell Douglas and $3.9 billion for Boeing. But while McDonnell Douglas earned a profit of $109 million and Boeing $103 million, Lockheed netted only $39 million. Reason: an operating loss of $125 million on the airbus. The news this year is no better. In the first six months, Lockheed's profits rose to $25.5 million, from $22.2 million...
...into service was at its peak. McDonnell Douglas expects to deliver 18 jumbo DC-10s next year, about the same as this year, plus nearly 40 smaller DC-9s between now and the end of 1977. Even scandal-scarred Lockheed Aircraft is doing moderately well with its jumbo TriStar. Lockheed failed to book a single TriStar order during 1975, but it sold six extended-range TriStars to British Airways last summer. It plans to deliver a dozen by 1978, adding to the 138 TriStars already in service. Those orders, plus a brisk military business, have helped brighten the outlook...
...part interview in the Asahai Evening News, he outlined the Lockheed sales campaign in detail. The crux of the problem for Lockheed was to persuade All Nippon Airlines to postpone a decision to buy the McDonnell-Douglas DC 10 and then arrange for All Nippon to buy the Lockheed Tristar, instead. In order to accomplish this objective, Kotchian undertook to penetrate the very top level of Japanese political decision making. He enlisted the aid of Lockheed's secret agent in Japan, Yoshio Kodama, a leader of the ultra-right wing nationalist faction of Japanese politics, a man with close ties...
...Japanese case, Lockheed's intention to pay Japanese officials in order to advance the sale of the Tristar was clear from the sworn testimony and documentary record in the subcommittee's possession. But because of the absence of incontrovertible proof that payments had actually been received by the intended officials, the subcommittee had to proceed with caution. Special procedures were devised...