Word: exchangees
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Dates: during 1950-1959
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In exchange for 3,500 shares of preferred stock (87½%) and 24,500 shares (49%) of Ramo-Wooldridge's common stock, the remainder of which the two scientists kept for themselves and future staffers, Thompson put an initial $400,000 into the baby corporation. Within a week R...
¶ Litton Industries was started in 1953 by Charles B. ("Tex") Thornton, a onetime Hughes Aircraft Co. executive who left with Ramo and Wooldridge. Backed by Lehman Bros, and other investment bankers, he bought going companies for their products and talent. Today, with 16 small firms in its fold, Litton...
Last week Lukens issued its first-quarter report. To almost everyone's astonishment, it revealed that first-quarter earnings were $3.53, more than double last year's first quarter. A rush to buy Lukens stock forced another suspension of trading, later pushed the stock up 8 points to...
Sudden Prosperity. President Huston refused to give any explanation for his low estimate-made two days after first-quarter books had been closed-except to say that it had been "necessarily conservative." The Stock Exchange announced that it had been assured by Lukens Steel that none of the firm'...
SPAIN'S SHAKY PESETA, which sank on foreign markets to 56 for $1 v. official rate of 38.95 to $1 as result of Spanish economic crisis (TIME, April 1), is being devalued to 42 to $1, will probably slide to 45 later. To spur lagging exports, Franco is also...