Douglas Mcdonnell Services Inc history

In 1985, McDonnell Douglas expanded in Long Beach yet again by increasing the size of its facility by two million square feet to accommodate production of the C-17, DC-10, MD-80 series and MD-11.

Long-term debt tripled from 1986 to the beginning of the decade, swelling to an alarming $3.3 billion and putting the company on the brink of insolvency.

He was named chairman and CEO in 1988.

Another $45 million building was constructed at the southwest corner of Lakewood Boulevard and Carson Street, as well as an office facility built directly across the street, opening in 1989.

In 1990, McDonnell Douglas went on a crash diet.

In 1991, the Defense Department pulled the plug on the A-12, an attack plane that McDonnell was developing in partnership with General Dynamics.

Earnings for the year soared 145 percent, up from a loss of $781 million in 1992 to $396 million in profit, despite a drop in revenues, while the company's debt continued to fall.

He held the CEO position until September 1994, when he brought in Harry Stonecipher as president and CEO of the corporation.

In 1996, Boeing bought McDonnell Douglas for $13.3 billion in stock, the New York Times reported, and the Long Beach Division of Boeing Commercial Airplanes was born.

The company ceased production of the aircraft in 2006, by which time the number of workers in the program had already dwindled to 800.