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Lockheed Troubles / California #454386

NBC Evening News for Thursday, Oct 21, 1971
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(Studio) Lockheed Aircraft Corporation stkholders given more bad news.
REPORTER: John Chancellor

(Burbank, California) Company recently got government guaranteed quarter billion dollars loan to avoid bankruptcy. British firm backs out of agreement to buy 29 tri-stars. Only 103 ordered now. [Bd. Chairperson Dan J. HAUGHTON - says better times ahead; feel we'll sell 350 tri-stars.] Congress told Lockheed must sell 300 to break even. 1st tri-star won't be delivered for 6 mos.

(Long Beach, California) Competition in McDonnell Douglas DC-10. Airlines not buying much and McDonnell Douglas Corporation needs twice its orders to break even. Govt. loan doesn't look like blue chip investment.

Chancellor, John;
Neal, Roy

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