Word: fairchilds
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When Motorola's executive vice president, C. Lester Hogan, quit last month to become president of rival Fairchild Camera & Instrument, he took seven colleagues along with him. Besides suffering a prompt drop in the price of its stock, Motorola began worrying that the mass exodus would mean a loss of trade secrets. Last week it acted. Filing suit in U.S. District Court in Phoenix, Motorola Inc. asked damages against Hogan, his associates and Fairchild, also sought to enjoin Fairchild from hiring away any more...
...Stature. G.M. could hardly be happy about losing a top man like Knudsen, just as Motorola was understandably distressed about losing Hogan. Yet, whatever the merits of Motorola's suit against Fairchild, the danger of executives carrying corporate secrets to a rival is generally not as great as it seems. Despite the secrecy fetish that Detroit makes about new models, almost everyone admits that automakers usually know all about one another's most guarded projects. It is often the same way in other industries. Says Michigan State's Jennings: "A secret is only a secret...
United Aircraft Corp., whose East Hartford, Conn., executive suite has been as stable as Fairchild's has been shaky, announced the Oct. 1 retirement at 65 of Chairman Horace Mansfield Horner, only the second boss that the huge aerospace company has had since it was founded 34 years ago. "Jack" Horner is the son of an early backer of Pratt & Whitney, United's creator. An engineer (Yale '26), he joined the engine maker right after graduation, when it had 80 employees and heady plans to build an aircraft engine called the Wasp. A high-performance engine...
...Fairchild Hiller Corp...
...thorn in North Korea's side-is the continued strength of its economy. Despite the disruptions of war, the South Korean economy continues to grow at a rate of 12% a year. Foreign investors are flocking into Seoul and the countryside, including Motorola (electronic circuits), IBM (computers), and Fairchild Camera (transistors). Though U.S. aid still braces the Korean budget, the aid figure has dropped from $110 million in 1966 to $70 million last year. Within the next two or three years, South Korea expects to be economically...