Word: fairchilds
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...Fairchild Camera...
Lucky Break. Ward and Fairchild had a falling out in 1946 over Fairchild's steady barrage of ideas, and Fairchild resigned from the company. Three years later he returned to wage a zestful proxy fight, plotted the battle so carefully (he even put real stamps on proxy letters because he felt that people ignored prestamped envelopes) that he won the battle five to one. He promoted Vice President Boutelle to president. In 1958, after Fairchild Engine lost its huge missile contract and went into a tailspin, Fairchild replaced him with J. M. Carmichael, former chairman of Capital Airlines. Boutelle...
...Fairchild got what he admits was a "lucky break." Eight young scientists working for Beckman Instruments decided to leave en masse with their idea for producing an extremely advanced transistor. After several companies turned down their request for financial backing, they came to Fairchild. He set them up in Fairchild Semiconductor Corp., as a division of Fairchild Camera, gave them stock in Fairchild Camera. Their success in developing the transistor (division sales may hit $30 million this year) is partly responsible for the spurt in Fairchild stock...
...Fairchild takes no salary from any of his companies, believes that he should be on the same basis as other stockholders. "My sole objective is not to make money but to do something that is a substantial improvement over what has been done before, because if you do that you will make money in the long...
...Millionaires. Like Fairchild, most of the men responsible for the success of the nation's new growth companies are intensely curious and dedicated men who started out to do something new rather than simply make money (although they hoped to do that too). Among the new millionaires : ¶Edwin H. Land, chairman, president and research director of Polaroid Corp., was worth $95.4 million personally (plus $99.8 million in stock held by his family) when Polaroid stock touched $256.50 a share earlier this year. Every time Polaroid's stock moves two points, the Lands' wealth rises or falls...