TRANSITION: Bulldozer at Work

When Robert H. Hinckley, onetime $50,000-a-year executive at Sperry Corp., moved in as boss of the troublesome Office of Contract Settlement, he faced a mountain: the settlement of billions in canceled war contracts. This week, OCS Boss Hinckley reported he was well on his way to bulldozing it into a molehill.

For the year ending June 30, said Hinckley, 56,721 contracts, involving almost $16 billion, have been settled. Now, fewer than 1,300 canceled contracts have been tied up more than six months in final settlement.

More important, Hinckley's settlements, which ran at the rate of $1 billion a month last...

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