Word: laughlins
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...business than in airlines and cable manufacturing. At the same time that he reported a 90% plunge in last year's operating profits of Ling-Temco-Vought, his once high-flying conglomerate, Jim Ling moved to settle a federal antitrust suit arising from his corporate acquisition of Jones & Laughlin Steel Corp. In order to hold onto the nation's seventh largest steelmaker, LTV will have to sell its controlling interests in Braniff Airways and Okonite Co. LTV also agreed in principle to refrain from "certain activities" for ten years -which probably means no more major acquisitions for that...
Finding a Buyer. Acquisitive LTV has expanded since 1957 from an obscure electrical contractor into a $3.75 billion-a-year corporation. Its takeover of Jones & Laughlin in 1968 was the largest conglomerate merger in history. After paying a very rich $85 a share -or a total $425 million for control of the company-Ling has seen his investment tumble by 59%. That Ling would now choose to get out of growth businesses and stay with a troubled company in a stagnant industry seems surprising. But LTV stands to collect some $17.5 million in dividends from J. & L. for last year...
...David W. Laughlin, cafeteria manager for Marriott-Hot Shoppes Corporation, said yesterday that he will meet next week with William L. Bruce, vice dean of the Law School, Richard G. Leahy, assistant dean of the Faculty for Resources and Planning, and representatives of the Law Student Council and Graduate Student Association to discuss changes in the Harkness facilities...
...basic problem is volume," Laughlin said yesterday. "Fewer people are eating here, and food and labor costs are up. Volume has been going down here for years. Last year the dining hall served about 2400 meals a day, so losses were less...
SLOP yesterday issued a pamphlet asking for a meeting with Bruce, Leahy, and Laughlin. Members will meet Sunday to consider further action. "The situation at Harkness needs to be erased completely so we can start again," Wayne M. White, a first-year grad student and a member of SLOP, said yesterday...