Word: aircrafting
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...Like GPA, which is privately held, most are obscure. International Lease Finance (1985 sales: $81.2 million), for example, was begun in 1973 by three Hungarian immigrants who now employ ten staffers in a Beverly Hills office suite. But these lessors have become familiar faces at Boeing, the giant Seattle aircraft manufacturer. In 1980 only four of Boeing's 316 orders were placed by leasing companies; during the first half of 1986, their share skyrocketed to 109 out of 247. Overall, more than $10 billion worth of aircraft will be out on lease this year, up from $8.4 billion...
...leasing industry has flourished in part because the deregulation of airlines in the U.S. spawned many fledgling carriers that could ill afford to buy new aircraft. Tempe, Ariz.-based America West got off the ground by leasing ten Boeing 737s -- its entire fleet. Says America West President Michael Conway: "Without leasing, we would have had to raise a lot more money...
...years if necessary. In contrast, the granddaddy of the industry, a subsidiary of General Electric called GE Credit, has traditionally signed leases of up to 20 years. James Ozanne, a GE Credit senior vice president, warns that middlemen who peddle short-term leases could eventually become saddled with aging aircraft that cannot be resold. Nonetheless, Ozanne admits, the boom in short- term renting has spurred GE Credit (1985 revenues: $2.9 billion) to begin offering five-year leases...
...carry its crew to a depth of 20,000 ft. Its manipulator arms can operate a variety of underwater tools, including a drill, a cable cutter, scissors, and plier-like jaws that can grasp sunken torpedoes, as well as attach cable slings to raise heavier objects such as downed aircraft...
...symbol of a procurement process gone haywire. After the Pentagon spent $1.8 billion and ten years developing the tank-mounted, radar-guided gun, field tests showed that it had trouble hitting a hovering helicopter. The fiasco left the Army without a weapon to counter the Soviets' high-performance aircraft and growing fleet of nimble helicopters. Some reformers urged the Army to consider simpler and more reliable weapons, perhaps a version of the existing Rapier or the Roland missile systems. But the Army decided otherwise. Enter FAAD (for forward-area air-defense system...