Word: litton
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Dates: during 1960-1969
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...looking to Europe for the next big boom in American stocks. Brokerage houses are rapidly expanding their networks on the Continent and providing new and faster quotation services. More and more American companies are seeking listings on foreign exchanges as a way of attracting European investors. Last week Litton Industries, California's fast-growing electronics complex, began trading on the Zurich Exchange, bringing to more than 250 the number of New York Stock Exchange securities now officially quoted on Europe's bourses...
...better President than Johnson, who is making the first decisive moves toward economy that I have seen in 30 years. Other Presidents have talked about economy, but Johnson has the leadership qualities that can make it fact." And Republican Charles B. ("Tex") Thornton, chairman of California's Litton Industries, adds: "I talk with lots of Republican businessmen every day, and I am deeply impressed by two things: a feeling of confidence in Lyndon Johnson, and a general acceptance of the probability that he will be re-elected this year...
...scientific glamour stocks, few soared farther or faster than Itek Corp., a secretive Massachusetts maker of aerial photo gear. Its shares came out at $2 in 1957, shot up to $255 in 15 months, then split 5 for 1. The company attempted to pyramid itself with acquisitions, as Litton Industries has successfully done (TIME cover, Oct. 4). But it turned into what General Dynamics once was-a gangling collection of independent divisions sadly lacking central control. Itek lost $2,500,000 in 1961, and its stock began to drop, scraped a low of 9½ after Blue Monday...
...convenience count more than cuisine. Many restaurants, hotels, motels, hospitals, factory cafeterias, railroad dining cars, snack bars and hamburger stands are now turning to high-speed electronic ovens -and the ovens are even being installed in vending machines that serve hot sandwiches. Such electronic giants as General Electric, Raytheon, Litton Industries and Tappan are in the field, competing with at least three smaller firms. Sales of the $6 million microwave-oven industry are still small, but will double this year and are expected by industry optimists to increase "several hundred percent" in the next ten years...
...chart used in the [Oct. 4] issue shows that Litton Industries acquired Elliott Automation in 1961. This is completely wrong. I am sure you are aware that Elliott Automation is a large and important company with worldwide interests. Elliott Automation has a subsidiary company, Elliott-Litton Ltd., which is jointly owned with Litton Industries. This was formed in 1961. There is no other connection between the two companies...