Word: aircrafting
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Virtually no one on Wall Street believes Pickens intends to acquire Seattle-based Boeing (1986 sales: $16.3 billion) and become an aircraft tycoon. Nor is it likely that Pickens would succeed if he tried, since a hostile takeover could cost as much as $13 billion. Some investment pros believe Pickens aims to encourage a takeover bid by a large corporation like cash-rich Ford, which might be seeking high-tech acquisitions. As a major stockholder, Pickens could reap a fortune from any such merger. Alternatively, Pickens' strategy may be to force Boeing management to enhance its share price by launching...
Pickens may have targeted Boeing precisely because of its depressed stock price: currently at 53, well below its estimated real value of at least 75. While the company has a lucrative backlog of nearly $30 billion in aircraft orders, earnings are in a slump because of price wars in the airliner business and the high costs of developing a new generation of passenger jets...
...beginning to look as if several important components of Soviet technology should be stamped made in japan. Japanese police last week arrested an employee at Tokyo Aircraft Instrument for illegally selling the KGB a computerized system that enables pilots to plot optimum flight paths based on wind conditions. The technology does not have great military significance, but the incident could hardly have come at a more embarrassing time for Japan. Tokyo has been on the defensive for a month because of revelations that a subsidiary of Toshiba sold the Soviets high-tech equipment for the manufacture of submarine propellers...
Still smarting over glitches in its newly activated B-1B bomber, the Air Force is now catching flak over its aircraft of the future, the radar-elusive Stealth bomber. Congressional critics say that technical and managerial problems are exponentially raising the project's cost. A reported $8 billion will be spent on the plane before it enters production early next year, and each of the 132 aircraft could cost more than $300 million, $23 million above the original price...
...become Marilyn Monroe. In June 1945, Conover, then an Army photographer stationed at the Hal Roach Studio in California, was sent by his commanding officer, Captain Ronald Reagan, to take promotional shots of women doing war work. The allure of Norma Jean Dougherty, 19, attaching propellers to model aircraft at the Radioplane Corp., prompted Conover to request a two-week leave, which he spent touring the Mojave Desert with the young beauty and teaching her some modeling techniques. Conover returned late from his leave and was shipped out to the Philippines. The film, sent to a friend to be developed...