Word: corp
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Dates: during 1960-1969
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What makes the A11 even more amazing is the fact that in a world of production-line design, it is the brain child of one man: Vice President Clar ence ("Kelly") Johnson, the same Lockheed Aircraft Corp. engineer who designed the famed, high-altitude U-2 ten years ago. Under orders from the Eisenhower Administration in 1959, Kelly Johnson and his team got busy in the "Skunk Works"-a secret hangar area at Lockheed's Burbank, Calif., plant where U-2 plans also took shape. The first A11 took to the air last fall...
...color television, however, profits are high and prices firm. Color sales rose by 72% to 750,000 sets last year, and RCA, the industry's biggest producer, expects them almost to double this year. Though Zenith, Sylvania and National Video Corp. have lately joined RCA as manufacturers of color TV tubes, high demand has made for a shortage of tubes that is likely to continue through 1964. Next year RCA will bring out a rectangular tube that will do away with the cropped corners on the screen and make the TV cabinet shallower. Portable color...
What motivates a man most to become a director? "Prestige, pride, interest and a sense of participation," says Zenith Radio Corp. President Joseph Wright. Certainly it is not the lagniappe...
...reason that Xerox Corp. has a quarter of the $500 million office copying field to itself is the more than 300 U.S. patents it holds covering its unique method of duplicating documents. None of them had ever been challenged in court until last week, when SCM Corp. and Addressograph-Multigraph Corp. took on Xerox in what could become one of the biggest patent fights in modern business history...
Died. Abraham Malcolm Sonnabend, 67, Boston financier, one of the nation's best-known corporate marriage brokers, who merged his hotel chain (Manhattan's Plaza, Washington's Mayflower) into money-losing Child's Restaurants in 1956 to form Hotel Corp. of America, a move that enabled him to write off hotel profits against restaurant tax credits, used the same method to take Botany textiles into everything from suntan lotion to Mad magazine, sent profits soaring for both companies until the credits ran out, whereupon disenchanted stockholders last year cut his Hotel Corp. salary...