113-544: The Mooney International Corporation (formerly Mooney Aviation Company, Inc. and the Mooney Aircraft Company ) is an American aircraft manufacturer based in Kerrville, Texas , United States . It manufactures single-engined piston-powered general aviation aircraft. Through its history the company has had many American owners and subsequent bankruptcies. Mooney International was purchased in 2013 by
226-705: A Mikoyan-Gurevich MiG-15 in Korea, although by this time the F-80 (as it was redesignated in June 1948) was already considered obsolete. Starting with the P-80, Lockheed's secret development work was conducted by its Advanced Development Division, more commonly known as the Skunk works . The name was taken from Al Capp 's comic strip Li'l Abner . This organization has become famous and spawned many successful Lockheed designs, including
339-604: A Romanesque stone structure at 226 Earl Garrett Street, is the site of the Hill Country Museum in downtown Kerrville. The Civil War slowed Kerrville's development, but with the start of the Reconstruction era , Kerrville's economic boom and ethnic diversification continued anew as demand grew in San Antonio for lumber, produce, and craftsmen. Kerrville's boom was also catalyzed by the combination of
452-525: A Chinese private equity, real-estate development company, the Meijing Group who ran it until 2020, when it was purchased by a group of Mooney aircraft owners under US Financial, LLC of Wyoming . Among Mooney's achievements are: the first pressurized single-engined, piston-powered aircraft, the M22 Mustang , production of the fastest civilian single-engine piston-powered aircraft in the world,
565-558: A bluff just north of the Guadalupe River in the eastern half of today's county. The settlement was referred to as "Brownsborough", but after the area was formally platted in 1856 by James Kerr , a major in the Texas Revolution, the settlement was formally known as "Kerrville" and maintained a county seat with Texas. Starting in 1857, a German master-miller named Christian Dietert and millwright Balthasar Lich started
678-495: A four-seater plane for some time while the Mite was in production. In early 1953, the company moved to Kerrville, Texas , and when it became clear that the Mite was nearing the end of its production, the development of the new plane was accelerated. The first M20 flight took place on September 3, 1953. Charles Yankey had been the primary financial backer since he helped Al establish the company in 1948, and when he visited Kerrville for
791-464: A gap between the normally-aspirated MSE and the turbocharged TLS, and it was powered by a 280-horsepower (210 kW) Continental IO-550 engine. Of the 91 Mooney aircraft manufactured in 1995, 54 were Ovations. The M20M Bravo, a TLS with more power, and the M20K Encore, an M20K with more power, appeared in 1996 and 1997, respectively. In July 2001, Mooney entered yet another bankruptcy and under
904-440: A household in the city was $ 32,085, and for a family was $ 38,979. Males had a median income of $ 27,555 versus $ 19,923 for females. The per capita income for the city was $ 20,193. About 11.7% of families and 15.6% of the population were below the poverty line, including 25.8% of those under age 18 and 7.8% of those age 65 or over. The Kerrville Folk Festival is an annual summer festival which features folk musicians from around
1017-707: A large grist and saw mill on the bluff. This mill established a permanent source of power and protection from floods, and became the most extensive operation of its kind in the Hill Country area west of New Braunfels and San Antonio . Soon afterwards, Charles A. Schreiner rode Kerrville's newly found popularity by serving Kerrville's mercantile needs. Schreiner established a family-run empire that helped build Kerrville's early prosperity by owning almost all of Kerrville's business sectors, including freighting enterprises, retail, wholesale, banking, ranching, marketing, and brokering operations. Schreiner's elegant downtown home,
1130-508: A leafy texture. Lockheed ranked tenth among United States corporations in the value of wartime production contracts. All told, Lockheed and its subsidiary Vega produced 19,278 aircraft during World War II, representing six percent of war production, including 2,600 Venturas , 2,750 Boeing B-17 Flying Fortress bombers (built under license from Boeing ), 2,900 Hudson bombers, and 9,000 Lightnings. During World War II, Lockheed, in cooperation with Trans-World Airlines (TWA), had developed
1243-513: A million dollars during that time. Butler Aviation also acquired the troubled Aerostar company and combined it with Mooney in an attempt to save both. The Mooney name was dropped in 1970, as was the M20 designation; the planes were called Aerostars. Butler Aviation closed the Mooney plant in early 1971 and it remained closed for more than two years. In October 1973, Republic Steel Corporation acquired
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#17327908743631356-617: A new facility in San Antonio, Texas , in 1989. In February of that year, the next M20 model was released: the M20M TLS (Turbocharged Lycoming Sabre). The first year, the TLS accounted for 30 of the 143 aircraft delivered, and in 1990 this increased to 61 units. Also in 1989, Mooney released a trainer model based on the M20J. Beech, Cessna and Piper had all stopped production of trainers throughout
1469-546: A ride in the new airplane, he was pleased with the project and began to develop the financial plans necessary to put the plane into production. Later that year, before Yankey transferred the funds from Wichita to Kerrville, he suffered a severe stroke, and he died in December 1953. None of Yankey's heirs had any interest in the aviation business, and although he had left his company stock to the two Mooney brothers, that stock had little value without further investment. The company
1582-544: A slate of his own choosing, since he was the largest investor. His board nominations included former Texas Senator John Tower , the onetime chairman of the Armed Services Committee , and Admiral Elmo Zumwalt Jr ., a former Chief of Naval Operations. Simmons had first begun accumulating Lockheed stock in early 1989 when deep Pentagon cuts to the defense budget had driven down prices of military contractor stocks, and analysts had not believed he would attempt
1695-475: A strong contender in the international market. We are strengthening our business in Europe, South America and Australia, where Mooney's high performance, efficiency and pricing are especially appealing. Our focus is to ensure the long-term viability of the company through prudent management and expansion of our market reach. The reasons for the cutbacks and layoffs cited by the company include the weak US economy and
1808-837: Is also the home of Texas' Official State Arts & Crafts Fair, the Kerrville Folk Festival , the Kerrville Triathlon (since 2011), and the Kerrville Renaissance Festival (since 2017), as well as Mooney Aviation Company , James Avery Jewelry , and Schreiner University . The Museum of Western Art (founded 1983) features the work of living artists specializing in the themes of the American West . Archeological evidence (including burned rock middens, lithic artifacts , and Caddoan pottery pieces) suggests that humans lived in
1921-622: Is home to the annual Texas State Arts and Crafts Fair , which features artisans and entertainers from around the state. The Texas Lions Camp and Echo Hill Ranch Summer Camp are also located in Kerrville. Kerrville hosted the Olympic trials for shooting sports for the 2012 Summer Olympics at the Hill Country Shooting Center. On Saturday, October 15, 2023, Kerrville experienced the moon's rare annular eclipse of
2034-720: The Beechcraft Duke . In 1969 the tail of the plane was updated and it became the M10 Cadet , but only 9 units were sold that year. 50 were built in 1970 before the model was terminated, marking the end of the Aircoupe. Despite strong sales of the M20, Mooney was short of cash. The development of the M22 Mustang had cost more than expected, and was ultimately unsuccessful. The collaboration with Mitsubishi had come with substantial financial assistance but proved too much for
2147-563: The Cessna 210 , a turboprop designated the "301". Roy LoPresti , formerly of Grumman Aerospace where he had worked on aircraft design and the Apollo Lunar Module , was hired as chief of research and development to update the M20. The result was the M20J 201, so named because it was capable of 201 miles per hour (323 km/h) with its 200 horsepower (150 kW) engine. In a 1979 interview, LoPresti noted that Mooney did not have
2260-507: The DC-10 ) strongly opposed the bill and they feared the government would steer contracts to Lockheed to insure loan payments. Admiral Hyman G. Rickover condemned the bill saying it represented "a new philosophy where we privatize profits and socialize losses." The New York Times editorial board held that the Nixon administration was violating its own free enterprise principles by advocating for
2373-531: The Garmin G1000 glass cockpit , four heated, leather captain's chairs with lumbar support, a range in excess of 1,500 nautical miles (2,800 km; 1,700 mi), and a top speed of 237 knots (439 km/h). At the time of its introduction, the Acclaim was the fastest single-engine piston-powered production aircraft in the world. Mooney was a publicly traded company after emerging from bankruptcy under
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#17327908743632486-678: The Great Depression , the Mooney Aircraft Corporation went bankrupt in 1930. The Mooney brothers worked for other aircraft companies, including the Culver Aircraft Company , from then through World War II . On June 18, 1948, Albert started Mooney Aircraft Incorporated in Wichita, along with Charles Yankey, Art Mooney and W. L. McMahon. The first aircraft produced by the new Mooney company was
2599-540: The Imperial Japanese Army . At the beginning of World War II, Lockheed – under the guidance of Clarence (Kelly) Johnson , who is considered one of the best-known American aircraft designers – answered a specification for an interceptor by submitting the P-38 Lightning fighter aircraft, a twin-engined, twin-boom design. The P-38 was the only American fighter aircraft in production throughout
2712-603: The Köppen Climate Classification system, Kerrville has a humid subtropical climate , abbreviated "Cfa" on climate maps. As of the 2020 United States census , there were 24,278 people, 9,627 households, and 6,059 families residing in the city. As of the census of 2000, 20,425 people, 8,563 households, and 5,411 families resided in the city. The population density was 1,222.5 inhabitants per square mile (472.0/km ). The 9,477 housing units averaged 567.2 per square mile (219.0/km ). The racial makeup of
2825-565: The L-049 Constellation , a radical new airliner capable of flying 43 passengers between New York and London at a speed of 300 mph (480 km/h) in 13 hours. Once the Constellation (nicknamed Connie ) went into production, the military received the first production models; after the war, the airlines received their original orders, giving Lockheed more than a year's head-start over other aircraft manufacturers in what
2938-572: The Uber Elevate initiative. In April 2017 it was announced that Saxena and Mooney had “decided to part ways", with Chief Financial Officer Albert Li assuming the role of interim executive director. It was announced in July 2017 that investors decided to shut down Mooney's research and development facilities at Chino Airport , California, and relocate to their headquarters in Kerrville, Texas . The company sold only 14 aircraft in 2018 and only 4 in
3051-518: The United States Census Bureau , Kerrville has a total area of 20.7 square miles (53.7 km ), of which 20.3 square miles (52.6 km ) are land and 0.42 square miles (1.1 km ) (2.00%) are covered by water. The Guadalupe River runs through the city, with the downtown area sitting on the northeastern side. The climate in this area is characterized by hot, humid summers and generally mild to cool winters. According to
3164-545: The "Lockheed Loan". Even after its adoption, a further controversy developed when the Emergency Loan Guarantee Board set up by the Executive branch to oversee the loan refused to allow Congress' General Accounting Office to examine its records. They argued that the office was attempting "interference in the decision-making process" amounting to an effort to "bully" and "harass" the board. This claim
3277-603: The 1970s. Drowning in debt, in 1971 Lockheed (then the largest US defense contractor) asked the US government for a loan guarantee, to avoid insolvency. Lockheed argued that a government bailout was necessary due to the company's value for U.S. national security. On May 13, 1971, the Richard Nixon administration sent a bill titled "The Emergency Loan Guarantee Act" to Congress requesting a $ 250 million loan guarantee for Lockheed and its L-1011 Tristar airbus program. The measure
3390-461: The 1970s. In late 1975 and early 1976, a subcommittee of the U.S. Senate led by Senator Frank Church concluded that members of the Lockheed board had paid members of friendly governments to guarantee contracts for military aircraft. In 1976, it was publicly revealed that Lockheed had paid $ 22 million in bribes to foreign officials in the process of negotiating the sale of aircraft including
3503-457: The 1980s, and the 201AT was designed to fill this gap. From 1989 to 1992, 20 units were delivered. 1990 saw the release of the next new model, the M20J 201, also designated the MSE. This was a 200-horsepower (150 kW) non-turbocharged model that incorporated many features from the TLS. In early 1991 Mooney decided to offer its Enhanced Flight Screener Trainer model to the general public, given that
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3616-528: The Acclaim and the Ovation, while continuing to supply parts for the existing fleet. Chen stated the company would remain in Kerrville, and concentrate on supplying new aircraft for the Chinese market. Paul Bertorelli, AVweb's Editorial Director, Aviation Publications, questioned whether the outdated and expensive-to-produce Mooney models, that use engines burning avgas , can succeed in the Chinese market. With
3729-445: The Acclaim's airframe. On 16 June 2008, Mooney announced it would lay off 60 employees and cut production from eight aircraft per month to five. Mooney CEO Dennis Ferguson said: These decisions will not have an adverse effect on the quality or safety of our products, nor will they delay scheduled aircraft deliveries. They were made to create corporate resiliency in the present economic conditions. Our plans include positioning Mooney as
3842-573: The Air Force was slow to make a decision on its trainer. It was to have a 260 horsepower (190 kW) Lycoming O-540 engine and would be rated for aerobatics. However, it generated little public interest. The TLS continued production through 1995, and the MSE continued too, until it was replaced by the M20R Ovation in 1994. Once again Mooney was offering two models: one with high speed (the TLS) and
3955-549: The Constellation obsolete. However, the design proved underpowered. The company sought to purchase Convair in 1946, but the sale was blocked by the SEC . In 1943, Lockheed began, in secrecy, development of a new jet fighter at its Burbank facility. This fighter, the Lockheed P-80 Shooting Star , became the first American jet fighter to score a kill. It also recorded the first jet-to-jet aerial kill, downing
4068-799: The F-104 Starfighter, the so-called Deal of the Century. The scandal caused considerable political controversy in West Germany , the Netherlands , Italy, and Japan. In the US, the scandal led to passage of the Foreign Corrupt Practices Act , and nearly led to the ailing corporation's downfall (it was already struggling due to the poor sales of the L-1011 airliner). Haughton resigned his post as chairman. In
4181-583: The Hills Catholic High School and Notre Dame Catholic School and Grace Academy of Kerrville are also located in Kerrville, serving as the primary alternative to the public school system. Kerrville is home to Schreiner University , a private four-year university which was established in 1923 by an ex-Texas Ranger, Captain Charles Schreiner. The school is consistently listed as one of the top regional liberal arts colleges in
4294-612: The Lockheed Aircraft Company to Detroit Aircraft Corporation . In August 1929, Allan Loughead resigned. The Great Depression ruined the aircraft market, and Detroit Aircraft went bankrupt. A group of investors headed by brothers Robert and Courtland Gross, and Walter Varney , bought the company out of receivership in 1932. The syndicate bought the company for a mere $ 40,000 ($ 858,000 in 2023). Ironically, Allan Loughead himself had planned to bid for his own company, but had raised only $ 50,000 ($ 824,000), which he felt
4407-462: The M20 airplanes. Due to start-up costs, they lost US$ 3000 on each airplane. Production increased, and they delivered 51 airplanes in 1956 and 105 airplanes in 1957. The M20 gained attention because it was able to achieve speeds of up to 170 miles per hour (270 km/h) with a 150 hp (110 kW) Lycoming O-320 engine. The combination of speed and efficiency was noteworthy. In 1958 the M20A joined
4520-509: The M20D, essentially an M20C with fixed landing gear and a fixed-pitch propeller. This had a slightly lower price than the M20C and was intended as a basic or trainer model which would have lower insurance costs. It could be upgraded with retractable landing gear, and in fact most of them were upgraded over the years. The M20D was produced from 1963 to 1966 with a total production of 141 units. 1964 saw
4633-470: The M20J and the turbocharged M20K were the only two models offered. General aviation manufacturing experienced a significant downturn starting in 1982. Mooney was affected along with other manufacturers and was forced to downsize through temporary layoffs. Despite the recession, development work continued. The 201 and 231 received more improvements, including significant reductions in cabin noise levels. The newly-developed six-place 301 had its first flight in
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4746-604: The M20TN Acclaim Type S, the first production aircraft to achieve 201 mph (323 km/h) on 200 hp (150 kW), the M20J 201 and the fastest transcontinental flight in a single-engine piston-powered production aircraft, the M20K 231. Many Mooney aircraft have the signature vertical stabilizer with its vertical leading edge and swept trailing edge that gives the illusion of being forward-swept. The company
4859-765: The Poseidon and Trident nuclear missiles. Lockheed developed the F-104 Starfighter in the late 1950s, the world's first Mach 2 fighter jet. In the early 1960s, the company introduced the C-141 Starlifter four-engine jet transport. During the 1960s, Lockheed began development for two large aircraft: the C-5 Galaxy military transport and the L-1011 TriStar wide-body civil airliner. Both projects encountered delays and cost overruns. The C-5
4972-706: The U-2 (late 1950s), SR-71 Blackbird (1962) and F-117 Nighthawk stealth fighter (1978). The Skunk Works often created high-quality designs in a short time and sometimes with limited resources. In 1954, the Lockheed C-130 Hercules , a durable four-engined transport, flew for the first time. This type remains in production today. In 1956, Lockheed received a contract for the development of the Polaris Submarine Launched Ballistic Missile ( SLBM ); it would be followed by
5085-503: The Western U.S. by U.S. News & World Report ' s America's Best Colleges Guide. Until 2020, Schreiner University was also home to Greystone Preparatory School . Greystone offered a one-year preparatory course to help individuals prepare for an appointment to one of the five federal service academies. Since the departure of Greystone, Schreiner Institute was created to fill this role. Directed by veteran Marine Shannon Deville,
5198-407: The [symbol MNYG (OTC BB) until October 2006, when Mooney Aerospace Group arranged financing to buy out public shareholders. In late 2007, Mooney announced the arrival of its newest model, the M20TN Acclaim Type S. The Acclaim Type S added 5 knots (9.3 km/h) to the Acclaim's top speed to reach a speed of 242 knots (448 km/h). Mooney achieved this performance gain through aerodynamic tweaks to
5311-472: The aircraft useful loads by providing lighter parts, such as carbon fiber reinforced polymer engine cowlings. The company will then assess future design changes, including fitting ballistic parachutes, adding auto-landing capabilities and designing larger cabins. Kerrville, Texas Kerrville is a city in Texas, and the county seat of Kerr County , Texas , United States. The population of Kerrville
5424-504: The area known as Kerrville as early as 10,000 years ago. The early modern residents were successful shinglemakers whose mercantile business became a hub that served the middle and upper Hill Country area in the late 1840s. One of the earliest shinglemakers was Joshua D. Brown. With his family, Joshua Brown had led several other families on an exploration of the Guadalupe Valley. These early pioneers organized their settlements near
5537-598: The area. Kerrville is located in eastern Kerr County. Via Interstate 10 , it is 65 miles (105 km) northwest of San Antonio and 52 miles (84 km) southeast of Junction . Texas State Highway 16 (Sidney Baker Street) is the main road through the center of Kerrville. Highway 16 leads northeast 24 miles (39 km) to Fredericksburg and southwest the same distance to Medina . Texas State Highway 173 leads south 25 miles (40 km) to Bandera , while State Highway 27 leads west 6 miles (10 km) to Ingram and east 18 miles (29 km) to Comfort . According to
5650-674: The arts, and tourism. By the mid-1990s the Wall Street Journal described Kerrville as one of the wealthiest small towns in America. By 1995, the city's official population was still under 18,000, with another 20,000 people in relatively affluent residential areas south of the river and in the rest of the county. In 2000, the population reached 20,425. Much of the growth in population included retirees and young professionals and semiprofessionals; for many years Kerrville also experienced significant out-migration of young adults raised in
5763-731: The backlog of unsold aircraft was cleared and the company announced it intended to resume aircraft production in the near future, subject to the market gaining "a little more momentum". On 19 November 2010, Mooney started a new round of layoffs, intending to reduce company staff from 53 to less than 10 employees by 1 January 2011. The remaining staff would be employed maintaining the company's physical facilities, its type and production certificates and providing parts and technical support to aircraft owners. The company continued negotiations with potential investors to allow production to resume. Company Chief Financial Officer Barry Hodkin stated, "We are not shutting down. However, we cannot continue to subsidize
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#17327908743635876-433: The cessation of Indian raids and the expansion into the business of cattle, sheep, and goat ranching. Cattle drives punctuated the boom-years of the late 1880s and the 1890s. In 1887, the San Antonio and Aransas Pass Railway reached Kerrville, and in 1889 the town incorporated, with an aldermanic form of city government. The Kerrville Water Works Company began to provide water for town dwellers in 1894. Telephone service
5989-555: The chief engineer. In January 1960, the Mooney company convinced Ralph Harmon to leave McDonnell Aircraft and take over management of the engineering efforts. He had previously worked for Beech Aircraft where he headed the design of the Beechcraft Model 35 , one of the first all-metal general aviation monoplanes. He later worked on the larger Cessna 620 and McDonnell Model C119, but his interests lay with small aircraft, and he accepted Mooney's offer. He insisted on replacing
6102-542: The city was 85.89% White, 2.99% African American, 0.55% Native American, 0.57% Asian, 0.08% Pacific Islander, 8.20% from other races, and 1.73% from two or more races. Hispanics or Latinos of any race were 22.73% of the population. Of the 8,563 households, 8.9% had children under the age of 18 living with them, 49.8% were married couples living together, 10.2% had a female householder with no husband present, and 36.8% were not families. About 33.1% of all households were made up of individuals, and 19.4% had someone living alone who
6215-579: The company and resumed production in 1974. Robert Cumming, a general manager at Republic Steel, had owned a Mooney M20F Executive for years and flew it frequently, and wished to put the Mooney M20 back into production. This began in January 1974 with the reintroduction of the M20F Executive. The company continued aggressive product development, working on another pressurized single to compete with
6328-471: The company announced that the project had been canceled, stating that the knowledge gained from this project would be applied to a future project. In August 2016, Mooney named Vivek Saxena as its new President and CEO. Under his tenure, Mooney's newest models, the M20V Acclaim Ultra and the M20U Ovation Ultra, received full FAA ceritification. Mooney also secured a partnership with the rotorcraft research company Carter Aviation Technologies , LLC to work towards
6441-424: The company at the level we have in the recent past. We have been in discussions with potential investors for more than 18 months and will continue to work with them. If things change, then the scope of this layoff could change". By August 2013, the company was still not producing new aircraft, but continued to support the existing fleet with parts. The company indicated that a return to production of complete aircraft
6554-402: The company provided no additional details. It was also unclear how many workers had returned and the company continued to not return aviation media inquiries. On 6 January 2020 the company again laid-off all employees and did not provide them with the previously committed holiday pay owed. A company human resources employee indicated at that time that Mooney was still seeking investment, but that
6667-605: The company should be allowed to go into bankruptcy citing the recent decision to leave Penn Central railroad to that fate, and the fact that the airbus program at issue was commercial rather than military. Naval scholar Thomas Paul Stanton notes that the opposition to the bill held it was "the beginning of the socialization of the American aircraft and aerospace industry." Proponents responded by claiming "this socializing process had taken place many years before", and some witnesses before Congress discounted "the very notion of 'free enterprise'." Treasury Secretary Connally pointed to
6780-540: The company to handle. It went into chapter 7 bankruptcy in early 1969; American Electronics Laboratories quickly acquired Mooney in March of that year and invested US$ 600,000 to keep it operating. Sales that year were less than half of the previous year's figures, although a new model, the M20E Chapparal, was released with electrically-operated flaps and landing gear. AEL was unable to turn the company around and sold Mooney to Butler Aviation International in December 1969. AEL owned Mooney for just over 9 months and lost nearly
6893-422: The company's future was unknown. On 1 September 2020 the company was taken over by a new ownership group under US Financial, LLC . The existing company management was replaced by a new CEO, Jonny Pollack, and a team consisting of "pilots and Mooney owners". The company will prioritize providing support for the existing fleet of more than 7,000 Mooney aircraft. Future priorities are anticipated to include increasing
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#17327908743637006-436: The company. When president Tom Smith left to join Fairchild Aircraft , Roy LoPresti became president, but he left the following year (1985) to work for Beech Aircraft Corporation . The 301 was put on hold and was never resumed by Mooney; it eventually became the TBM700 and is now produced by Socata Aircraft . The focus was once again on the M20 line. Sales continued to fall, totaling 143 in 1984 and 99 in 1985. Mooney opened
7119-528: The country and Canada. The TaxExemptWorld.com website, which compiles Internal Revenue Service data, reported that in 2013, 465 distinct, active, tax exempt/nonprofit organizations in Kerrville, excluding credit unions, had a total income of $ 414.4 million and assets of $ 958.8 million. One example of a performing arts nonprofit organization in Kerrville would be Art 2 Heart . There are seventy-three (73) churches in or near Kerrville, Texas. Adventure Cycling Association Southern Tier Bicycle Route Kerrville
7232-503: The entirety of American involvement in the war, from Pearl Harbor to Victory over Japan Day . It filled ground-attack, air-to-air, and even tactical bombing roles in all theaters of the war in which the United States operated. The P-38 was responsible for shooting down more Japanese aircraft than any other U.S. Army Air Forces type during the war; it is particularly famous for being the aircraft type that shot down Japanese Admiral Isoroku Yamamoto 's airplane. The Lockheed Vega factory
7345-455: The faltering economy and worries about unemployment while testifying "the time has come within the United States when we have to look at things differently. Free enterprise is just not all that free." Questions arose whether letting Lockheed fail would be bad for the market due to decreased competition or good by screening out inefficient competitors and mismanagement. Lockheed's competitors, McDonnell Douglas and General Electric (collaborators on
7458-406: The first female CEO of a U.S. aircraft manufacturer. She oversaw the development and introduction of the M20TN Acclaim and the Garmin G1000-equipped Ovation2 GX and Bravo GX. In June 2005, Mooney added a second shift and 50 new workers to boost production. Mooney announced the release of the M20TN Acclaim on April 4, 2006, at the Sun 'n Fun fly-in at Lakeland, Florida . The M20TN also featured
7571-433: The first half of 2019. The company shut down and furloughed all employees on 12 November 2019. The company was reportedly seeking new American investors to reopen, but in the meantime did not respond to inquiries from the media or from existing aircraft owners seeking support or parts. The company reopened on 2 December 2019, after being closed for 20 days. It was unclear if new financing had been secured at that time or not and
7684-450: The high price of fuel inhibiting sales. On 5 November 2008, the company announced it was halting all production and had laid off 229 of its 320 employees, due to an excess unsold inventory of aircraft as a result of the late-2000s recession . Virtually all the laid-off employees were on the production line. The company said all other operations would continue and all customer support and existing customer orders would be filled. In carrying out
7797-426: The injection of capital from its new Chinese owners, production resumed on 26 February 2014, beginning with the completion of five previously incomplete airframes already on the assembly line. In April 2014 at Sun n Fun , the company announced a US$ 50M investment, including the construction of a Mooney museum in Kerrville to be run by a new nonprofit organization. With production underway, 85 employees were at work, with
7910-422: The introduction of the M20E Super 21, based on the M20C but with a more powerful 200 hp (150 kW) fuel-injected Lycoming engine. The company sold 366 M20Es that year. To supplement the M20 line, Mooney began development of a high-performance pressurized single, the M22 Mustang . It first flew in September 1965 and was certified two years later. The project was ultimately unsuccessful. Sources disagree on
8023-401: The late 1980s, leveraged buyout specialist Harold Simmons conducted a widely publicized but unsuccessful takeover attempt on the Lockheed Corporation, having gradually acquired almost 20 percent of its stock. Lockheed was attractive to Simmons because one of its primary investors was the California Public Employees' Retirement System (CalPERS), the pension fund of the state of California. At
8136-611: The layoffs, the company did not comply with the notification requirements of Texas law. In a statement Mooney said: These unexpected and unforeseeable conditions are beyond Mooney Airplane Company's control. It was impossible for Mooney Airplane Company to predict this sudden collapse in demand at the time when notice would have been required. In a third round of layoffs in December 2008, the company let go an additional 40 workers, leaving only about 50 employees at work. The company had 25 unsold aircraft at its factory in December 2008. In April 2010, after 18 months with no aircraft production,
8249-643: The leadership of J. Nelson Happy as CEO, the company was acquired by Advanced Aerodynamics and Structures Inc. (AASI) in 2002. AASI resurrected Mooney under the name Mooney Aircraft Company, Inc., a division of Mooney Aerospace Group, Ltd. Two years later in 2004, MASG ( AASI ) sold off the Mooney assets to Allen Holding Finance in May, and filed for bankruptcy on June 10. In December, MASG restructured and reacquired Mooney Aircraft Company from Allen Holding Finance. Gretchen L. Jahn joined Mooney in November 2004, becoming
8362-475: The lineup with a larger 180 hp (130 kW) Lycoming O-360-A1A engine, and by 1959 this was the only model offered, with a total sales that year of 231 units. This was the first year the company made a profit. The M20A continued production into 1960 when 166 were delivered. These were the last of the Mooneys to have wooden structures in the wings and tail. Since Al Mooney's departure, John W. Taylor had been
8475-407: The loan. (Later, historian Stephen J. Whitfield viewed the passage of the loan guarantee as a support for the argument that America was shifting away from Lockean liberalism. ) Following a fierce debate, Vice President Spiro T. Agnew cast a tie-breaking vote in favor of the measure on August 2, 1971. President Nixon signed the bill into law on August 9, 1971 - which became colloquially known as
8588-543: The market after World War I . Allan went into the real estate market while Malcolm had meanwhile formed a successful company marketing brake systems for automobiles. On December 13, 1926, Allan Loughead, John Northrop , Kenneth Kay and Fred Keeler secured funding to form the Lockheed Aircraft Company ( spelled phonetically to prevent mispronunciation) in Hollywood. This new company used some of
8701-728: The name "Mustang". The letter was ignored and Cavalier filed suit, but by that time the M22 line was nearing its end and the Mustang name had been dropped. During several years in the early 1960s, Mooney had discussions with Mitsubishi Motors regarding their MU-2 . An agreement between the companies was reached in mid-1964: the MU2 would be fabricated in Japan but assembled by Mooney in the United States. The existing Kerrville facility and workforce
8814-625: The other with high efficiency. The competition for the Enhanced Flight Screener program was finally held in 1992, and the Slingsby T67 Firefly was chosen instead of the Mooney EFS. Sales continued to drop, only reaching 64 units in 1993. The San Antonio location was sold and all operations returned to Kerrville. Development of the M20 continued and the M20R Ovation was released in 1994. It was designed to fill
8927-518: The program has since been designated as one of six West Point approved Associate of Graduates Scholarship Programs. Lockheed Corporation The Lockheed Corporation was an American aerospace manufacturer . Lockheed was founded in 1926 and merged in 1995 with Martin Marietta to form Lockheed Martin . Its founder, Allan Lockheed , had earlier founded the similarly named but otherwise-unrelated Loughead Aircraft Manufacturing Company , which
9040-410: The ramifications of the Lockheed loan guarantee soon resurfaced in late 1975 with discussions on possible aid to New York City during its fiscal crisis . Lockheed finished paying off the $ 1.4 billion loan in 1977, along with about $ 112.22 million in loan guarantee fees. The Lockheed bribery scandals were a series of illegal bribes and contributions made by Lockheed officials from the late 1950s to
9153-471: The resources to develop radical new composite construction aircraft as did other manufacturers, and would focus on evolutionary development of conventional aircraft. The 201 was a big seller, and a turbocharged version was developed later that year. The next year, 1977, three models were offered: the M20C Ranger, the M20F Executive, and the M20J 201. By 1979 the M20C had been dropped, ending production of
9266-535: The same technology originally developed for the Model S-1 to design the Vega Model . In March 1928, the company relocated to Burbank, California , and by year's end reported sales exceeding one million dollars. From 1926 to 1928 the company produced over 80 aircraft and employed more than 300 workers who by April 1929 were building five aircraft per week. In July 1929, majority shareholder Fred Keeler sold 87% of
9379-405: The short-body M20. The same year, the company's first turbocharged M20 was released: the M20K 231, so designated because its top speed was 231 miles per hour (372 km/h). It was based on the earlier 201 with further improvements. This year a total of 439 airplanes were delivered — fewer than the top years of the 1960s, but these deliveries resulted in healthy profits. From this point through 1986,
9492-540: The small single-seat Mooney Mite M-18 . It was designed to appeal to the thousands of fighter pilots leaving military service. Some thought the Mooney Mite looked so much like the Messerschmitt Bf 109 that they called it the "Texas Messerschmitt". The Mite was produced into the early 1950s and established some of the design concepts still used by Mooney today. Al Mooney had been developing the designs for
9605-462: The spring of 1982. That year deliveries fell to 218 units, and in 1983 only 154 aircraft were produced; but enthusiasm for the new 301 kept expectations high, and another opportunity arose. The United States Air Force announced a competition to develop a replacement for the Cessna T-41 trainer, and Mooney immediately began to develop a military trainer based on the 231. In 1984, Republic Steel
9718-607: The sun. Six months later, on Monday, April 8, 2024, the Kerrville Eclipse Festival celebrated the moon's rare total eclipse of the sun. Kerrville is served by the Kerrville Independent School District , which maintains four elementary schools (Tally, Nimitz, Starkey, and Daniels), two middle schools (BT Wilson 6th Grade and Peterson), and two high schools (Hill Country High School and Kerrville (TX) Tivy ). Our Lady of
9831-521: The takeover since he was also at the time pursuing control of Georgia Gulf . Merger talks between Lockheed and Martin Marietta began in March 1994, with the companies announcing their $ 10 billion planned merger on August 30, 1994. The headquarters for the combined companies would be at Martin Marietta headquarters in North Bethesda, Maryland . The deal was finalized on March 15, 1995, when
9944-465: The time, the New York Times said, "Much of Mr. Simmons's interest in Lockheed is believed to stem from its pension plan, which is over funded by more than $ 1.4 billion. Analysts said he might want to liquidate the plan and pay out the excess funds to shareholders, including himself." Citing the mismanagement by its chairman, Daniel M. Tellep , Simmons stated a wish to replace its board with
10057-439: The total production, some saying 36 units, others 32, 29 or 27. What is certain is that each plane was a financial loss for the company. It was reported as having a heavy control response and poor visibility, although it did fly high and fast. The name also could have caused problems, since Cavalier Aircraft had been modifying surplus North American P-51 Mustangs for civilian use and wrote a letter to Mooney asking them not to use
10170-500: The two companies' shareholders approved the merger. The segments of the two companies not retained by the new company formed the basis for L-3 Communications , a mid-size defense contractor in its own right. Lockheed Martin also later spun off the materials company Martin Marietta Materials . The company's executives received large bonuses directly from the government as a result of the merger. Norman R. Augustine who
10283-501: The wood in the M20 with aluminum, and the all-metal M20B was completed by the end of 1960, less than a year after his arrival. In 1961 the company sold 222 M20Bs. The following year the M20C, a refined version of the M20B, was introduced; 336 were sold that year. Rachal, Hoffman, and Harmon were not experienced at running an aircraft factory, but saw the need to expand the product line and add dealers, and pushed ahead. In 1963 they introduced
10396-526: The workforce forecast to expand to 140 by the end of 2014. Chief Executive Officer Chen stated the company would deliver 6 aircraft in 2014 and 30 in 2015. In January 2015 the first aircraft, a Mooney M20TN, was delivered to a customer in China. The aircraft was shipped disassembled and then assembled and test flown in Zhengzhou , China. Two new Mooney models were announced on 11 November 2014. The Mooney M10T
10509-664: The world in 1937. Subsequent designs, the Lockheed Model 12 Electra Junior and the Lockheed Model 14 Super Electra expanded their market. The Lockheed Model 14 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. The Model 14 Super Electra were sold abroad, and more than 100 were license-built in Japan for use by
10622-603: Was 24,278 at the 2020 census . Kerrville is named after James Kerr , a major in the Texas Revolution , and friend of settler-founder Joshua Brown , who settled in the area to start a shingle-making camp. Being nestled in the hills of Texas Hill Country , Kerrville is best known for its beautiful parks that line the Guadalupe River , which runs directly through the city; other features include its nearby youth summer camps, hunting ranches, and RV parks. It
10735-446: Was 65 years of age or older. The average household size was 2.21 and the average family size was 2.79. In the city, the population was distributed as 21.0% under the age of 18, 8.0% from 18 to 24, 21.3% from 25 to 44, 20.4% from 45 to 64, and 29.3% who were 65 years of age or older. The median age was 45 years. For every 100 females, there were 87 males. For every 100 females age 18 and over, there were 83.0 males. The median income for
10848-591: Was acquired by the Ling-Temco-Vought corporation, and Mooney was dropped. There were several bids to purchase the company and it was quickly purchased by a group of investors known as the Morrison Group from Minneapolis, Minnesota . Less than two months later it was acquired by the team of Armand Rivard of Lake Aircraft and Alexandre Couvelair, a Mooney dealer from Paris . They had placed a bid when Republic dropped Mooney and were determined to own
10961-695: Was at the time CEO of Martin Marietta received an $ 8.2 million bonus. Both companies contributed important products to the new portfolio. Lockheed products included the Trident missile , P-3 Orion maritime patrol aircraft , U-2 and SR-71 reconnaissance airplanes , F-117 Nighthawk , F-16 Fighting Falcon , F-22 Raptor , C-130 Hercules , A-4AR Fightinghawk and the DSCS-3 satellite. Martin Marietta products included Titan rockets , Sandia National Laboratories (management contract acquired in 1993), Space Shuttle External Tank , Viking 1 and Viking 2 landers,
11074-593: Was built in any number (141 aircraft) was the Vega first built in 1927, best known for its several first- and record-setting flights by, among others, Amelia Earhart , Wiley Post , and George Hubert Wilkins . In the 1930s, Lockheed spent $ 139,400 ($ 2.29 million) to develop the Model 10 Electra , a small twin-engined transport. The company sold 40 in the first year of production. Amelia Earhart and her navigator, Fred Noonan , flew it in their failed attempt to circumnavigate
11187-718: Was built to vague initial requirements and suffered from structural weaknesses, which Lockheed was forced to correct at its own expense. The TriStar competed for the same market as the McDonnell Douglas DC-10 ; delays in Rolls-Royce engine development caused the TriStar to fall behind the DC-10. The C-5 and L-1011 projects, the canceled U.S. Army AH-56 Cheyenne helicopter program, and embroiled shipbuilding contracts caused Lockheed to lose large sums of money during
11300-472: Was contemplated, depending on new investment being found. On 8 October 2013, it was announced that the company had been purchased by Soaring America Corporation , a new California-based company headed by President Cheng Yuan (Jerry Chen) of Taiwan , for an undisclosed amount. Chen heads a group of Chinese investors that some reports indicate include the Meijing Group , a Chinese real-estate developer. Chen indicated his priorities included resuming production of
11413-433: Was denied by Comptroller General Elmer B. Staats , and efforts were made by Senator William Proxmire to get Treasury Secretary John Connally to testify due to the suspicion that the loan guarantee was in jeopardy. The editorial board of The New York Times blasted the situation, citing it as another argument against the propriety of the loan guarantee and the precedent it set for other failing companies. The debate around
11526-506: Was different than selling a small four-seater. The company's management was also over-stretched. In 1967, Mooney acquired production rights to the Aircoupe from Alon Aircraft Company. Owners John Allen and Lee Higdon, who had left Beech Aircraft to start their own company, took managerial positions at Mooney. Production began in 1968 with a total of 38 units. That year Allen and Higdon both left Mooney, Allen returning to Beech to assist with
11639-400: Was easily foreseen as the post-war modernization of civilian air travel. The Constellation's performance set new standards which transformed the civilian transportation market. Its signature tri-tail was the result of many initial customers not having hangars tall enough for a conventional tail. Lockheed produced a larger transport, the double-decked R6V Constitution , which was intended to make
11752-689: Was founded in 1929 by Albert Mooney and his brother Arthur. Albert Mooney had his first job in aviation at the age of 19 in 1925 when he worked briefly for Alexander Aircraft Company in Denver, Colorado . He worked for the Marshall/Montague Monoplane Company in Marshall, Missouri , in 1926, but the company had financial difficulties, and Al soon returned to Alexander, where he designed the Alexander Bullet . He
11865-518: Was hotly debated in the US Senate. The chief antagonist was Senator William Proxmire (D-Wis), the nemesis of Lockheed and its chairman, Daniel J. Haughton. Some of the debate in Congress developed over what conditions should be attached to the bailout. Senator Alan Cranston demanded that the management be forced to step down, lest it set a precedent rewarding wasteful spending. Others argued that
11978-514: Was insufficient, so Mooney purchased 230 acres (93 ha) near the airport in San Angelo, Texas (125 miles (201 km) to the northeast of Kerrville), set up an assembly line in an existing hangar, and built new support facilities. The MU2 sold slowly. This was partly because the same sales force that was selling the M20 line was also trying to sell the much more expensive MU2. It cost about US$ 400,000, and marketing and selling such an airplane
12091-603: Was introduced in 1896, and the city began to pave streets in 1912. Kerrville adopted a "commission" form of city government in 1917, then changed to the "city-manager" form in 1928. In 1942, the town adopted a home-rule charter, while continuing with a city manager. Kerrville has displayed steady population growth throughout the 20th century, increasing from 1,423 residents in 1900 to 2,353 in 1920, 5,572 in 1940, 8,901 in 1960, and 15,276 in 1980. Its economic base has diversified and broadened through business, agriculture, light manufacturing, health care, transportation, services, education,
12204-544: Was joined by his brother Arthur, known as Art. Early in 1929 Al was invited to meet with some financial backers in Wichita, Kansas , and the Mooney Aircraft Corporation was established with financial backing from the Bridgeport Machine Company. The company owned an airfield and some buildings which could be used to design and build aircraft. Seven months later, Albert's M-5 airplane was test-flown. Due to
12317-538: Was located next to Burbank's Union Airport which it had purchased in 1940. During the war, the entire area was camouflaged in case of enemy reconnaissance. The factory was hidden beneath a huge burlap tarpaulin painted to depict a peaceful semi-rural neighborhood, replete with rubber automobiles. Hundreds of fake trees, shrubs, buildings, and even fire hydrants were positioned to give a three-dimensional appearance. The trees and shrubs were created from chicken wire treated with an adhesive and covered with feathers to provide
12430-635: Was on the point of declaring bankruptcy when two investors, Hal Rachal and Norm Hoffman of Midland, Texas , decided to step in and save the company. The M20 was certified in September 1955. Shortly thereafter, Albert Mooney left the company and went to work for the Lockheed Aircraft Corporation in Marietta, Georgia . His brother Art joined him there, and both remained with Lockheed until retirement. During 1955, Mooney sold 10 of
12543-490: Was operational from 1912 to 1920. Allan Loughead and his brother Malcolm Loughead had operated an earlier aircraft company, Loughead Aircraft Manufacturing Company , which was operational from 1912 to 1920. The company built and operated aircraft for paying passengers on sightseeing tours in California and had developed a prototype for the civil market, but folded in 1920 due to the flood of surplus aircraft deflating
12656-613: Was to be a fixed gear composite aircraft powered by Continental’s 133-horsepower (99 kW) CD-135 diesel engine; the M10J was a variant which was to have retractable gear and the 153-horsepower (114 kW) CD-155 diesel. These were developed largely with the Chinese aviation market in mind. In China, aviation fuel is scarce and expensive, whereas diesel fuel is less expensive and more readily available. The M10 series certification and deliveries were expected to begin in 2017, but in April 2017
12769-654: Was too small a sum for a serious bid. In 1934, Robert E. Gross was named chairman of the new company, the Lockheed Aircraft Corporation, which was headquartered at what is now 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 company was named the Lockheed Corporation in 1977. The first successful construction that
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