TITLE

Should Lockheed Be Saved?

PUB. DATE
May 1971
SOURCE
Time;5/31/1971, Vol. 97 Issue 22, p98
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that the Lockheed Aircraft Corp., the biggest defense contractor, is facing financial problems and is asking the government for a bailout. The company wants Congress to authorize an unprecedented federal guarantee of a 250 million dollars loan to save its L-1011 plane, a medium-range "airbus" designed to carry 250 passengers. It is stated that if the Congress refuses to help out then the company will become bankrupt. However, administration of the U.S. president Richard M. Nixon has promised to save the company by giving financial aid.
ACCESSION #
53806653

 

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