Business: The Lockheed Bailout Battle

THE nation's biggest defense contractor was fighting for its life, and Congress had seldom before seen such frenzied lobbying. As the argument mounted last week over the proposal for the Government to guarantee $250 million in loans to the Lockheed Aircraft Corp., Nixon Administration officials placed calls around the country to sympathetic bankers and industrialists. Those men, in turn, phoned their Congressmen and urged them to vote for the bailout. Machinists and scientists bought newspaper ads. Aerospace workers, some of whom lost their jobs after amateur lobbyists effectively organized an anti-SST...