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Lockheed loan test fuels uncertainty in Congress and markets
Treasury Secretary Connally testified on a proposed government loan guarantee of up to 250 million to Lockheed Aircraft Corp to keep production of the jumbo jet on track and save jobs. He warned that failure to act could push Lockheed toward bankruptcy and threaten the TriStar project and national defense contracts. In California Lockheed reports 1971 first quarter earnings of 3.3 million versus 5.1 million a year earlier, with a $25 million government loan guarantee hanging on long term financing.
MENTIONED IN THIS ARTICLE
Washington Af
The
Treasury
John RB. Connally
Lockheed Aircraft Corp
Senate Banking Committee
Connally
Defense Department
Lockheed
Air Force
Pentagon
Connally Stilf
Adlai Steverson III
D-Nl
Alan Cranston
D-Calif
Congress
William Proxmire
D-Wis
Eni
U.S
Proxmire
Senate