Word: leos
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Dates: during 1950-1959
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...Little Town ... In Newark, police and firemen set up ladders and nets in front of a department store when Leo Kotomski crawled out on its third-story ledge, disbanded when they learned that Kotomski was only looking over Christmas decorations...
...since the first public sale of 10.2 million Ford Motor Co. shares in 1956 has a stock issue attracted such broad public demand. Transitron quickly jumped to $49 per share in over-the-counter trading, closed the week at $43 per share. To Transitron's owners, David and Leo Bakalar. went $34.4 million for part of their interest in the third largest U.S. semiconductor producer (first: Texas Instruments Inc.; second: General Electric Co.). The Bakalar brothers still personally hold 6.4 million shares, almost evenly distributed between them. Their total worth, based on last week's market price...
First With the Best. The Bakalars have built their electronics fortunes in only seven years. In 1952, Leo had a highly successful plastics business and good bank credit. David had a Massachusetts Institute of Technology Ph.D. in physical metallurgy and some practical semiconductor experience from a job at Bell
Laboratories. In a corner of Leo's plastics factory in Boston, Mass., David developed a commercially produceable gold-bonded diode can electronic switching device for converting alternating current into direct current) that was better than anything on the market. But even after it had a product, Transitron had to wait a year before it could sell any. During that year, Leo poured nearly $400,000 into the new firm, which lost...
...Bakalar brothers run their three plants, which employ 4,300 workers, with an informal touch. In their rambling Wakefield, Mass, headquarters, which was once an underwear mill, the Bakalars share a secretary, avoid written memos, and do most of their business in corridor conferences with staff members. Decisions by Leo, 46, who serves as treasurer and chairman, and David, 34, who is president, have equal power. To justify the price of Transitron's stock (now selling at a steep 45 times projected 1960 earnings) the company is expected to diversify, use the 2.1 million shares of Transitron...