Lockheed, GD Teams Study Sale of F-16 Plant

FORT WORTH – Lockheed Corp. has appointed a team of employees to explore whether it should purchase General Dynamics Corp.’s Fort Worth-based tactical aircraft business, industry sources said.

Some Wall Street analysts have been anticipating that GD would sell its fighter aircraft operations as the value of the company's stock has climbed more than 85 percent since Jan. 1, closing yesterday at $97 a share.

GD Talking Sale of Fort Worth’s Largest Employer

FORT WORTH – General Dynamics Corp. is holding discussions with Boeing Co. and Lockheed Corp. about the sale of its 20,000-employee Fort Worth Division, high-ranking sources at GD and in the aerospace industry said.

George Banke's bikes are being ridden by some of the top cyclists in Texas and elsewhere, including several female riders who compete with Natalie Banke.

Wheels of Fortune

FORT WORTH – George Banke and wife, Betty, founded Banke Racing Works, a little Fort Worth company that is quickly building one of the biggest names in custom-made bicycles in Texas and the Southwest. Their clients have included enthusiasts to competitive world class athletes.

Yesterday’s event in Texas Stadium drew more than 140 dealers from the Southwest region, which includes Texas, Louisiana, Kansas, Oklahoma, Arkansas and New Mexico. Photo: General Motors Corp.

Joint Strike Fighter. Photo: U.S. Air Force

In November 1989, GD acknowledged that F-16 production had fallen as many as 20 planes behind schedule because of production problems. The problems cost GD millions of dollars in delayed government payments, contract adjustments and overtime pay. Photo: U.S. Air Force

Lawmakers have been searching for ways to deal with the bills the Pentagon will face just after 2000 when it will attempt to produce three fighters at the same time, the Joint Strike Fighter, the F-22 stealth fighter and the F/A-18E/F. The combined cost of producing the Joint Strike Fighter and the other two planes has been estimated at $400 billion.

The Arlington and Willow Run plants, GM sources and analysts say, are the subject of an internal review at GM to find out which facility could end up producing the company’s full-size, rear-wheel-drive cars. Photo: General Motors Corp.

The prospect of Supreme Court vacancies is worrying some conservatives, legal experts say, because Republican presidents appointed the three jurists who are considered most likely to retire – Rehnquist, 72; Stevens, 76; and O’Connor, 66.

If GD sells all the assets it has put on the block, it will go from an $8.75 billion company (by 1991 sales) to a $6 billion company – if its remaining businesses continue at their current sales rate, which is unlikely in today’s defense spending climate.

The two defense companies said the Justice Department had informed them that it was “fundamentally opposed” to the merger.

The controversy is rooted in part in the high cost of launching multimillion-dollar satellites.

Acme Brick Co.

To equal or surpass the F-22, the Russians would have had to have made significant advances in their fighter technology.

Satellite service providers such as DirecTV and EchoStar, the biggest satellite broadcasters, have tens of millions of subscribers across America.

Emmitt Smith

While Ford, Chevy and GMC once ruled in full-size trucks, entries from Dodge and Toyota will fuel competition and maybe even force other companies to enter the battle. Photo: Chrysler/FCA

Even the youngest of the U-2s is expected to have reached the end of its structural lifespan around 2020.

Texans bought more than 621,000 light trucks in 1997, tops in the nation. Photo: Ford Motor Co.

Chevy Volt

The Air Force has begun to give all its personnel more time off after lengthy assignments abroad. For example, a 90-day stay in Bosnia will now earn a two-week vacation upon return. A 45-day deployment will result in a week off.

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Tag Archives: Fort Worth

Lockheed, GD Teams Study Sale of F-16 Plant

GD Talking Sale of Fort Worth’s Largest Employer

Wheels of Fortune