Word: chris
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Dates: during 1960-1969
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...Order. The turning point for Chris-Craft came in early 1960 when Harsen Smith, beset by family disagreements, sold out for $40 million to NAFI Corp., a Wall Street-run venture company controlled by famed Yachtsman Cornelius Shields. 66. and his investment banker brother Paul. To replace Smith as chief executive officer, the Shieldses installed bluff, chunky President Harry Coll, 52. who had been with Chris-Craft since 1939. Even before the Shields brothers took over. Coll had sent his close friend. Sales Vice President Charles R. Burgess, 51. off to survey the company's dealer organization. "Time...
...year existence. Chris-Craft has consistently outdistanced its competitors by combining innovation with craftsmanship (TIME cover, May 18, 1959). As one of the chief instigators, and as the prime beneficiary of the U.S. boating boom, Chris-Craft has averaged 14% growth every year since 1946. But by the late 19505. Chris-Craft, though still on top was not in tiptop shape. Run almost singlehanded by Chairman Harsen Smith with occasional advice from 53 other Smiths, the family-owned corporation was in visible -danger of losing its position as the company that made the right moves first. Says one top Chris...
Pile & Picture Windows. Given a free hand by the Shields brothers. Coll himself took a pencil to Chris-Craft's blueprints. A mechanical engineer with a flair for design, he slimmed the bulging bow line, streamlined the superstructure to give the boats a racier silhouette. To please lady sailors, he installed molded fiber-glass vanities and washbowls in the heads, put pile carpets in the cabins, and picture windows in the galleys. As a result of the new look, Chris-Craft is once again, according to Coll, "at least two years in front of its competitors-and I intend...
With a new emphasis on research, Chris-Craft is building at its Pompano Beach (Fla.) headquarters a $250,000 laboratory to evaluate the data it gathers in ocean-testing its new models. Chris-Craft engineers are experimenting with jet engines for boats. They are also testing a new "outmount" drive unit that combines the best features of an inboard engine (lower center of gravity, less fuel consumption) with the good points of an outboard (the drive shaft kicks up if it strikes an obstruction, can be raised for beaching and loading aboard a trailer...
Sails on the Horizon. Though the U.S. boating industry is currently in the throes of a major shakeout-sales this year are 25% below the 1960 level-Chris-Craft is faring relatively well. Coll expects that sales for the fiscal year ending Aug. 31 will reach $43 million, a decline of 8% from the previous year. Chris-Craft has opened a sales subsidiary in Lausanne. Switzerland. With its exports to Europe running 56% ahead of last year's, the company plans to set up its own European factory, possibly in Italy...