THIRTY YEARS AGO THIS WEEK:
Beverly Hills-based Litton Industries Inc. was selected to build the Navy’s $1 billion LHA heavy assault ship, triggering a rise in the company’s stock by 4.5 points, to $78.50. Litton beat rivals General Dynamics Corp. and Newport News Shipbuilding Co. The ships were designed to carry combat troops and their equipment.
Lockheed California Co. named Charles A. Hofflund executive vice president for commercial aircraft programs, making him the point man for the Burbank company’s new L-1011 jetliner. The aircraft, not yet under construction, was planned to have three engines and carry up to 350 passengers.
May 21, 1968
Dow Jones Industrial Average: 891.6
New York Gold: $42.75 oz.
Top sirloin steak: $1.49 pound
Reel lawnmower: $39.98