Word: co
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Dates: during 1950-1959
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MERGER TALKS are going on between Beverly Hills' Litton Industries, Inc., fast-growing maker of electronic equipment (TIME, April 29), and Underwood Corp. (1956 operating loss: $3,571,420), which recently talked merger with National Cash Register Co...
BIGGEST DEFENSE ORDER since World War II for General Electric Co. for developmental work was disclosed by Air Force. Contract is for $158 million worth of G.E. missile nose-cones to go on Atlas ICBM and Thor IRBM...
...Black. By 1929 Weirton Steel Co. was among the world's biggest independent tinplate producers, but Weir was "tired of sawing wood in West Virginia." He put through a merger with Detroit's Great Lakes Steel Corp. and subsidiaries of Cleveland's M. A. Hanna Co. to form the $120 million National Steel Corp...
...National Steel's boss. Weir set out to finance its lively ambitions. "I wanted $40 million at a time when that money looked like the national debt. I got it, not from Wall Street, but from Main Street." Instead of turning, like other steelmen, to J.P. Morgan & Co., Weir sold bonds to the public. With new equipment, Weir operated on a stubbornly independent policy of "no order too little, none too big." He supplied Detroit automakers on a booming scale that yielded National Steel a profit during every Depression year, made it the only U.S. steel company...
...Right. When Weirton Steel Co., which had a company union, was struck, Weir personally polled his men, decided that outside union organizers were responsible, refused to allow a National Labor Relations Board election. National Recovery Act Administrator General Hugh Johnson threatened him with "jail in 24 hours." but Weir stood firm even under desperate White House coaxing. His hot court battle against a key NRA clause forbidding company unions ended in victory. A federal judge held that NRA applied only to interstate commerce and did not cover Weirton, an event widely held as the beginning...