Toward the Reduction of Entrapment
Part of the Springer Series in Social Psychology book series (SSSOC)
The following stories recently appeared in the Business Section of The New York Times.* The first, dated December 7, 1981, read as follows:
The Lockheed Corporation announced today that it had decided to halt production of its L-1011 Tristar jumbo jetliner and write of losses of $400 million. The company said it had lost $2.5 billion on the L-1011 program since it began 13 years ago in a trans-Atlantic partnership with Rolls-Royce. With the Tristar, Lockheed was hoping to recapture the commerical airliner business that it had abandoned … By taking a $400 million write-off in phasing out the L-1011, Lockheed has plenty of company. In 1979 the United States Steel Corporation wrote off 14 steelmaking and fabricating facilities at a total charge of $809 million. In the same year International Telephone and Telegraph Corporation, as a result of closing its Rayonier pulp mill in Quebec, wrote off $320 million … The Chairman (of Lockheed) said, “Despite an intensive marketing effort the existing backlog of orders is not enough to sustain continued production at an economically justifiable level.”
Lockhead to Halt Output of Tristar (13-Year Loss Near $2.5 Billion)—“Lack of Orders” Blamed
KeywordsMarketing Shale Allo Stake
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© Springer-Verlag New York Inc. 1985