The Lockheed Corporation (originally Loughead Aircraft Manufacturing Company) was an American aerospace company. Lockheed was founded in 1912 and later merged with Martin Marietta to form Lockheed Martin in 1995.Source Lockheed at Wikipedia.org.
The Alco Hydro-Aeroplane Company was established in 1912 by the brothers Allan and Malcolm Loughead. This company was renamed the Loughead Aircraft Manufacturing Company and located in Santa Barbara, California.
In 1926, following the failure of Loughead, Allan Loughead formed the Lockheed Aircraft Company (the spelling was changed to match its phonetic pronunciation) in Hollywood, California. In 1929, Lockheed sold out to Detroit Aircraft Corporation.
The Great Depression ruined the aircraft market, and Detroit Aircraft went bankrupt. A group of investors headed by brothers Robert and Courtland Gross, and including Walter Varney bought the company out of receivership in 1932. The syndicate bought the company for a mere $40,000. Ironically, Allan Loughead himself had planned to bid for his own company, but had raised "only" $50,000, which he felt was too small a sum for a serious bid.
In 1934, Robert E. Gross was named chairman of the new company, the Lockheed Corporation, which was headquartered at the airport in Burbank, California. His brother Courtlandt S. Gross was a co-founder and executive, succeeding Robert as Chairman following his death in 1961.
The first successful construction that was built in any number (141 aircraft) was the Vega, best known for its use to several first- and record setting flights by, among others, Amelia Earhart, Wiley Post and George Hubert Wilkins.
In the 1930s, Lockheed spent $139,400 to develop the Model 10 Electra, a small twin-engine transport. The company sold 40 in the first year of production. Amelia Earhart and her navigator, Fred Noonan, flew this plane on their failed attempt to circumnavigate the world in 1937. Follow-on designs, the Lockheed Model 12 Electra Junior and the Lockheed Model 14 Super Electra expanded their market. The Model 14 also formed the basis for the Hudson bomber, which was supplied to both the British Royal Air Force and the United States military before and during World War II. Its primary role was submarine hunting.Source Lockheed at Wikipedia.org.
After long preparation Triple Tree Aerodrome is now ready to host one of the biggest RC events - Joe Nall 2013. As usual even will start on Mother's day weekend and last for 7 days.
The largest and longest RC expo in North America RC Model Toledo Show 2013 is ...