Baltimore's Glenn L. Martin Co., which has built many of the Navy's search planes, last week was itself the object of a naval rescue party. Although it has more than $400 million of defense orders on its books, Martin does not have enough working capital to keep going. One reason: it was hard hit in the postwar collapse of the airplane industry. Another: it took such heavy losses on its new 4-0-4 transport, which it sold to Eastern Air Lines and TWA at too low a price, that its 1950 net of $3.1 million turned into an estimated 1951...
To continue reading:
or
Log-In
