Senator Proxmire cites Poseidon cost overruns doubling
Senator William Proxmire said a 3.6 billion overrun more than doubles the Poseidon submarine missile program cost. He chairs the Senate House subcommittee on economy probing 20 billion dollars in weapon overruns. Navy officials dispute figures while noting related costs and delays in newer ships and rescue crafts.
MENTIONED IN THIS ARTICLE
Washington
William Proxmire
Senate
House
U.S
Wisconsin
Proxmire
Robert 5. McNamiara
Barry J. Shillito
Navy
Broxmire
Adm
Levering Smith
Ballistic Missiles
McNanara
Poseidon
Shil- Jito
Polaris
Pentagon
Congress
Proxmite
Knox
Navy Board of I
Nathan Sonenshein
Logisltics
Sonenshein
Inflation War Faces Tough Mood in 70s Schultz Warns
Washington secretary of labor George P. Schultz warned of a tough mood in 1970 as workers seek higher wages, consumers buy less, and business leaders resist labor demands. He urged reducing demand to control inflation while sticking to no strong-arm labor interventions and projected a slow price rise with a recovery by mid-1970.
MENTIONED IN THIS ARTICLE
Schultz
Washington
George P. Schultz
Nixon
Shultz
White House
General Dynamics sues over F111 parts fraud case
General Dynamics filed a $3 million suit in U S District Court against Harry C Bass Jr and Selb Manufacturing Co alleging bribery to influence two aircraft parts inspectors to accept defective wing box components for the F111 fighter. The case cites gratuities totaling $3902 given between March and August 1968 and claims costs to repair or replace damaged parts would run up to $1 million. Bass is noted as president of Selb Manufacturing Co of Richmond Heights Missouri. The filing connects to ongoing F111 program difficulties and asserts the wing box replacement plan is unrelated to Selb manufactured parts.
MENTIONED IN THIS ARTICLE
ST. Louis
General Dynamics Corp
U.S
Harry C. Bass Jr
Richmond Heights
Selb Manufacturing Co
Air Force
General Dynamics
Selb
Texas Aircraft Builder
Bass
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U.S. Savings Bonds & Freedom Shares