OTHER NEWS - March 12, 1992
From Times Staff and Wire Reports
McDonnell Douglas Shares Plunge: They dropped $3.875 in New York Stock Exchange trading in what analysts said was reaction to disclosures earlier this week to the Securities & Exchange Commission. The firm disclosed in its quarterly 10K report that it has trimmed its planned production of MD-80 jetliners at its Long Beach plant to 90 aircraft in 1992 from 100. It added that it lost 27 firm orders and 141 options and reserves for MD-80s during 1991. The firm also said its cash flow in the first half of 1992 would be negative. In a separate SEC filing, McDonnell disclosed that it is preparing to issue $1.5 billion in new debt securities, including consolidation of some existing debt.
