Word: hughesmen
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...breakfast the day of last week's scheduled meeting and informed him that he no longer favored enlarging the board. But what could Hughes do, since Breech and Olds had stock control of TWA? When Breech and Olds got to the meeting, they found out. Tipped off by Hughesmen, most of Hughes's directors did not show up at the meeting. An embarrassed Breech and Olds could not even get a quorum, therefore could not get Breech elected to the board. Since the bylaws state that only the directors or a special stockholders' meeting can elect...
Battle for Funds. Stocky, handsome Tex Thornton, who was born in Knox County, Texas and graduated from Texas Technological College ('37), got a backhanded boost toward success from eccentric, erratic Howard Hughes. Thornton quit Hughes Aircraft in the same big blowup of Hughesmen (TIME, Oct. 5, 1953) that sent Simon Ramo and Dean Wooldridge off to start their own famed Ramo-Wooldridge Corp. With Thornton went Roy L. Ash, Hughes Aircraft's assistant controller and now Litton...
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