CORPORATIONS: Lockheed: Still Aloft

Can Lockheed Aircraft Corp. survive? The question has been asked ever since the Government saved the aerospace giant from bankruptcy in 1971 by guaranteeing the repayment of $250 million in bank loans; it has become more urgent as a result of the furor touched off by revelations about Lockheed's extensive foreign bribery. The scandal brought in a new management, headed by Robert W. Haack, 59, former president of the New York Stock Exchange. Last week TIME Correspondent John Quirt interviewed Haack and other sources inside and outside the company and filed this report:

In Haack's view, there is "absolutely no...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!