Word: ethyle
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Charles R. Robinson, the state medical examiner who performed Largey's autopsy, concluded Monday that physical injuries were not the cause of death. He listed the cause of death on Largey's death certificate Thursday as ingestion of rapid acting barbiturate and ethyl alcohol (overdose...
Together with his sons, Floyd Jr., 49, and Bruce, 38, Floyd Gottwald is trying to convince the Government and the automakers that his company's new "lead trap," a disposable filter attached to an auto muffler, will stop lead from being emitted into the air. Trouble is, Ethyl's device does not trap all the lead. Besides, automakers claim that lead must be kept out of the gasoline itself because it clogs catalytic mufflers. These are metal containers for the chemicals that will remove enough air pollutants from auto exhausts to meet federal standards set for 1975.* Says...
...climbed the management ladder. Ultimately he became president-and the biggest shareholder. Gottwald's dollar-tight reputation endeared him to bankers, who deemed him a sound credit risk. Indeed Gottwald and his sons were able to borrow $200 million ten years ago to buy Ethyl Corp. from General Motors and Jersey Standard. Later they sold off Albemarle at a good profit. Now the family owns 14% of Ethyl's stock, worth $35 million...
Gottwald continues to spend money sparingly and has built a comfortable cash reserve of more than $140 million for Ethyl. But the company's net earnings declined 6% last year to $35 million on sales of $577 million. Since leaded antiknock compounds accounted for 36% of those sales and a hefty 60% of the profits, Ethyl may have more knocks ahead. But the company is not entirely pessimistic. It has high hopes for its mix of other products, including paper and polyethylene film for coating paper diapers...
Despite the Gottwalds' recent misfortunes, they live and work in pastoral Southern comfort. Ethyl is headquartered in two new Williamsburg-style buildings, with a painting of Robert E. Lee in the board room. Now the Gottwalds must decide how to defend their empire against the anti-lead threats. And diversifying into new fields seems to carry the promise of incurring the family jinx. When phosphates in detergents came under fire from environmentalists, Ethyl spent $2 million to study and design a plant for a substitute product called NTA. Before the Gottwalds could get it into production, the Government ordered...