McDonnell Company and Douglas Aircraft Company officially merge, forming McDonnell Douglas Corp. However, the union is more of a takeover, as McDonnell buys 1.5 million shares of Douglas stock for $68 million to complete the transaction, which had been approved by the Douglas board of directors on Jan. 13.
The Air Force is on track to reach its annual goal of graduating 1,500 new pilots that had proved elusive to this point, one year after the service launched a sweeping overhaul of its undergraduate pilot training program, Air Education and Training Command said Sept. 14.
