Word: corp
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Dates: during 1960-1969
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Chauncey W. Cook, president, General Foods Corp...
Norman B. Obbard, executive vice president, U.S. Steel Corp...
...toss its heavier load 1,000 extra miles, the A-3 packs more thrust and less deadweight. First-stage fuel, made by Aerojet General Corp., is denser, so that more can be carried in the same space. It is also more powerful, producing a hotter flame (6,300 to 6,600° F.) and more thrust. The casing that restrains its pressure (800 to 900 lbs. per sq. in.) has been lightened by making it out of filament-wound glass fiber instead of metal...
During the high-flying days of the scientific glamour stocks, few soared farther or faster than Itek Corp., a secretive Massachusetts maker of aerial photo gear. Its shares came out at $2 in 1957, shot up to $255 in 15 months, then split 5 for 1. The company attempted to pyramid itself with acquisitions, as Litton Industries has successfully done (TIME cover, Oct. 4). But it turned into what General Dynamics once was-a gangling collection of independent divisions sadly lacking central control. Itek lost $2,500,000 in 1961, and its stock began to drop, scraped...
Itek prospered, so long as it held to its original purpose. But when it expansively acquired Hermes Electronics Co. and Photostat Corp., it suffered a bad case of technological indigestion. Concerned by the loose management and by the 1961 loss, Walkowicz, with the 20% Rockefeller interest to protect, called for reinforcements. He prevailed on Frank Lindsay, a member of the management consultant firm of McKinsey & Co., to become executive vice president and help Leghorn revamp the company. Lindsay was a longtime friend of both Walkowicz and Leghorn, and as a former member of the Central Intelligence Agency was closely familiar...