Word: landa
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...assembled eight years ago under the name Penn-Texas Corp. by German-born Financier Leopold Silberstein, who hoped to make it the nucleus of a vast industrial empire. But in 1958 it was wrested from Silberstein's control by a corporate raider from Palm Beach named Alfons Landa. Landa used the company to seize control of Chicago's Fairbanks Morse, an old-line machinery manufacturer, then changed its name to Fairbanks Whitney...
Board-Room Battlefield. By installing himself as chairman of the executive committee, and his protégé Karr as president, Landa thought he had assured himself of control of Fairbanks Whitney. But before long, the new board of directors began raising a hue and cry about mismanagement. Last May, after a 1961 loss of $83,600 on sales of $141 million, Landa resigned as an officer of the company. Subsequently, a score of lesser Fairbanks executives scurried off, and those who remained behind were so absorbed in boardroom battles that no one was left to mind the store...
...Revolving doors would come in handy at the Manhattan executive suites of Fairbanks Whitney Corp., the widely diversified and often troubled manufacturer of heavy machinery. Last spring Executive Committee Chairman Alfons Landa and two vice presidents quit amid reports of angry board room battles for control of the company. Last week they were joined by Thomas G. Lanphier Jr., 46, who resigned as president of the company's largest division, Fairbanks, Morse. Lanphier−the World War II ace who gunned down Japan's Pacific Commander, Admiral Yamamoto, and later rose to become vice president of General Dynamics...
Even wily Proxy Fighter Alfons Landa, executive committee chairman of Fairbanks Whitney Corp., who helped Evans gain his place on the Crane board, was taken aback by Evans' maneuvers, questioned whether he was housecleaning too fast and hard. But Evans, who built Pittsburgh's H. K. Porter Co. from a money-losing locomotive manufacturer to a twelve-division, $137 million industrial combine, would hear none of it. Shuffling between his Greenwich, Conn, home and several cities, he worked harder and more ruthlessly to increase profits for Crane and solidify his power. Evans shifted about Crane's operations...
...Evans' aggressiveness has paid off. Crane's net income in the first half rose more than 60%, to $2,333,000. Just how much farther Evans will go toward reducing the size of Crane is a matter of wide speculation. His rift with Landa over how to run the company appears healed. If he can overcome the ill will he has generated through the drastic changes in Crane's organization, roughriding Tom Evans may well add Crane to the list of his successes...