Word: board
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Dates: during 1950-1959
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...beyond making products for a profit." Businessmen are also obliged, says Percy, to serve society. While running Bell & Howell, the world's biggest producer of motion-picture equipment (1958 sales: $59 million), cleft-chinned Chuck Percy has found plenty of time to serve society. He sits on the board of the University of Chicago ("I am a better businessman for getting my head up in the clouds with the academic people") and is the chairman of the Ford Foundation's Fund for Adult Education ("If all of us in industry learned better the world in which we live...
...jobs upon graduation, and Percy chose to take charge of B. & H.'s tiny defense production. Within months the U.S. went to war, and Percy at 21 was bossing B. & H.'s biggest endeavor. McNabb, who made all the company's decisions, placed Percy on the board at 23. After 35 months in the Navy (up from apprentice seaman to lieutenant), Percy became corporate secretary. When McNabb died in 1949, Percy was elected president...
...heirlooms are old, family-owned business enterprises that have fallen on hard times, and his specialty is modernizing them. Last week Tom Evans, chairman of Pittsburgh's H. K. Porter Co., Inc., an industrial combine with assets of $57 million, added another heirloom. He took over as board chairman and chief executive officer of Chicago's Crane Co., the nation's largest manufacturer of valves, fittings and pipes, in a shake-up of 104-year-old Crane's management...
Evans cast his collector's eye on Crane in the fall of 1957, when the company's sales were slipping from a record $394 million in 1956 to $378 million. He began buying up stock, asked to get on the Crane board, but was turned down. As Crane sales dropped to $336 million in 1958, Evans decided that the time was ripe to move, called in Proxy-Battler Alfons Landa, boss of Penn-Texas Corp., to help...
...first-quarter earnings (23? per share v. 21? last year), which did not show the strong comeback from the recession of Crane's chief competitors. Mrs. Chadbourne decided to back Evans and Landa with her 120,759 shares, and they agreed to put Grandnephew Robert Crane on the board...