25 YEARS AGO THIS WEEK: Beverly Hills-based Litton Industries came under fire from Rep. Les Aspin, D-Wisc., for cost overruns on its Tacfire battlefield computer system being developed for the U.S. Army. Aspin claimed cost overruns would hit $72 million, more than double the $30 million figure claimed by the company.
THE NEWSMAKER: Kirk Kerkorian, chairman of L.A.-based MGM Inc. and Western Airlines Inc., defended himself against critics complaining about his absence from stockholder meetings. Kerkorian, then 55, said he did not want to give “professional stockholders” a chance to turn the meetings into a circus. Kerkorian’s wealth was pegged at more than $200 million.
THE NUMBERS
March 2, 1973
Dow Jones Industrial Average: 961.30
New York gold: $86.60
10-speed bike: $59.88
23-day European tour: $747