Word: vought
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...BOMBER CUTBACK jolted the aircraft industry, resulted in 2,000 layoffs at North American Aviation, less drastic reductions at subcontractors Boeing, Lockheed and Chance Vought. Already stuck for $500 million in development costs, the Air Force has trimmed its $3.5 billion program for 62 combat-ready planes, has given North American the go-ahead on only two prototypes, which will be ready...
...Pacific, 100 missions, three MIGs downed in Korea), carries the weightiest decorations (five Distinguished Flying Crosses, 19 Air Medals), is the most famed of the lot (he won headlines in 1957 as the first man to fly supersonically from Los Angeles to New York-piloting a Chance Vought F8U in 3 hr., 23 min.-later won $25,000 on TV's Name That Tune), probably has the most space savvy (McDonnell Aircraft consulted him in blueprinting Project Mercury's space capsule). He is also the champion humorist of the fast-cracking group, says: "I'm probably doing...
...from tactical A-bomber to all-weather interceptor. McDonnell went into missiles and helicopters, landed an $8,000,000 contract for its XV1 convertiplane, another $45 million for its high-speed Quail bomber decoy drone. Latest project: the supersonic (Mach 2 plus) F4H fighter, which beat out Chance Vought's F8U3 Crusader for an initial $170 million (23 planes) Navy contract...
Cleaning Up. Republic has lent $1 billion to finance oil drilling, more than any Southwest bank. Florence was a chief mover in bringing Temco Aircraft to Dallas, which in turn helped persuade Chance-Vought to come. He also helped organize Lone Star Steel Co., biggest in Texas. Partly to persuade big Texas borrowers that it was no longer necessary to go to New York, Florence gave Republic the most impressive face in Dallas-a $25 million, 40-story building sheathed in aluminum. The skyscraper has acted as a magnet to bring Dallas such other structures as the new Hotel Statler...
...Minutes after it had surfaced off California's Point Mugu. the Navy's conventionally powered submarine Grayback launched a stubby-winged turbojet missile from its deck, quietly slipped back under the waves. With chase and control planes following closely. Chance Vought's Regulus II flew a guided, circuitous 200-mile route to Edwards Air Force Base in the Mojave Desert, where because of a landing-gear malfunction, it burned up on landing. But the landing was a technicality : the business version of Regulus II will pack a nuclear warhead on a 1,000-mile range, will give...