Word: bomber
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...costly delays in its F-14 fighter program, caused mainly by the failure of subcontractors to deliver the planes' avionics systems on schedule. Grumman's 1987 profits dropped 55%, to $36 million. Now the company faces a new problem: Carlucci intends to end funding for Grumman's A6 Navy bomber, which accounted for 15% of last year's pretax profits. "If any company in defense is vulnerable, it is Grumman," says Paul Nisbet, an industry analyst with the Prudential-Bache investment firm...
...least $400 million in questionable expense claims in connection with the development of its MX missile-guidance system. In addition, the Government is looking into allegations that the company bribed South Korean officials in the hope of boosting overseas sales of its F-20 fighter. The B-2 Stealth bomber is also being investigated for possible billing abuses, and could have its budget severely trimmed. Because Stealth accounts for nearly half the company's revenues, some analysts expect Northrop's profits to fall this year...
Lloyd Jr. graduated from the University of Texas with a law degree in 1942 and enlisted in the Army. As a bomber pilot in Europe, he flew 50 missions. He was awarded the Distinguished Flying Cross after being shot down twice...
...wire controls make thousands of computerized adjustments a minute, allowing pilots to fly planes that are far more streamlined -- but less stable -- than those of the past. Many U.S. military planes are now completely computer controlled, including the F-14 and F-16 fighters and the B-1B bomber. But those planes do not need to be as stable as commercial airliners. Says Tom Foxworth, a pilot for a major U.S. airline: "The difference is that if things go wrong, military pilots can pull a switch and bail out. But your Aunt Tilly in the back of a commercial airliner...
...Soviet military machine will be rubbernecking all over the U.S. next week, but hardly as a typical sightseer. Marshal Sergei Akhromeyev will be treated to a look at some of the Pentagon's crown jewels, including the newly commissioned nuclear aircraft carrier Theodore Roosevelt and a B-1 bomber...