June 13, 1991 |
Test flights of the tilt-rotor V-22 Osprey, an airplane that hovers like a helicopter, were suspended because one of five prototypes crashed on its maiden flight. At a news conference in Essington, Pa., Boeing Helicopters President Timothy Fehr said that "the aircraft haven't been grounded (permanently), but we won't resume flying until we know more" about the accident Tuesday in northern Delaware. The Osprey is a $1.8-billion program of Boeing Helicopters and Bell Helicopter Textron of Ft.
March 29, 1990 |
The Bush Administration on Wednesday withdrew its request to Congress to delay $2.2 billion in Pentagon expenditures this year. By law, such deferrals are permissible because of unexpected contingencies or a chance to save money by better management. The delays are not allowed for policy reasons, but the Administration had cited developments in the East Bloc in making the request. The deferrals drew the ire of several lawmakers who favor programs that would have been affected.
March 24, 1987
TransTechnology Corp. said it converted $16 million (principal amount) of outstanding convertible subordinated debentures to stock by issuing 713,000 new common shares. The debentures, which paid 9% interest, were first issued in 1983. The company said that, by calling and converting the debentures, it boosted shareholders' equity and cut long-term debt. TransTechnology said it hopes the higher number of outstanding shares--now 5.
CALIFORNIA | LOCAL
January 11, 2001
There is no doubt that the V-22 Osprey is a significant investment, but Ivan Eland's contention that the tilt-rotor aircraft ought to be scrapped in the wake of the recent accident that cost the lives of four Marines is woefully shortsighted (Commentary, Jan. 5). Eland favors limiting our acquisition of the tilt-rotor Osprey to the aircraft already purchased and using these in select operations. As for the mission requirements we aim to fulfill with the V-22, he suggests using the CH-53 or Blackhawk helicopters instead.
December 12, 2000 |
A U.S. Marine Corps MV-22 Osprey with four crewmen on board crashed on Monday during a night-training mission in coastal North Carolina, the second crash involving one of the new tilt-rotor aircraft this year, the Marine Corps said. Military and civilian rescue workers, along with rescue helicopters from the Marine Corps New River Air Station, were trying to reach the crash site in a remote wooded area near Jacksonville, a statement from the air base said.
June 28, 1989 |
The House Armed Services Committee, in the first major action on the Bush Administration's 1990 defense budget, Tuesday cut $300 million from the B-2 stealth bomber program and slashed $1.1 billion from the Administration's proposed $4.9-billion "Star Wars" research program. The lawmakers also rejected a bid to kill development funds for the single-warhead missile widely known as the Midgetman. But they left until today any final decision on whether to fund research work on a second missile program--the 10-warhead MX missile to be based on rail cars.
CALIFORNIA | LOCAL
March 19, 1989 |
Investigators were combing a crash site in South Korea, trying to determine why a Tustin-based transport helicopter went out of control and crashed during a training exercise, a Marine Corps spokesman said Saturday. The pilot and three crewmen, who were attached to the 3rd Marine Aircraft Wing based in Tustin, died. The copter crashed in a rice field 280 miles southeast of Tokyo while on a joint U.S.-South Korean training mission known as Team Spirit '89.
August 1, 1990 |
The House Armed Services Committee voted Tuesday to slash some of the Bush Administration's major military spending programs and recommended the termination of the controversial B-2 Stealth bomber program. In all, the Democratic-controlled panel recommended cuts of $24 billion from the Pentagon's $307-billion request for 1991. The committee proposed also to slash the Pentagon's manpower rolls by 129,000 next year.
September 23, 2002 |
About 1,400 striking Boeing Co. production workers were due to return to work at a helicopter plant near Philadelphia on Sunday, after their union and company management reached a tentative agreement, both sides said. The breakthrough after an eight-day walkout at the facility in Ridley Township, Pa., came Saturday after negotiators for the Chicago-based aerospace company withdrew a proposal on work-rule flexibility that workers said threatened their seniority rights, union officials said.
March 29, 2008 |
Lockheed Martin Corp. beat out Boeing Co. to win a $766.2-million Pentagon contract to design and build a radio system connecting aircraft, ships and ground stations military-wide. The deal, announced Friday, could lead to the installation of tens of thousands of radios and ultimately be worth billions to the company.