Word: litton
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Dates: during 1970-1979
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...Congress armed with an M.I.T. doctorate in economics and two years in the Office of Systems Analysis in Robert McNamara's Defense Department. The second-term Democrat from Wisconsin has waged an all-out war on military waste and cost overruns. He helped expose ballooning costs at Litton Industries' naval shipbuilding yards and mechanical troubles with Lockheed's C-5A cargo plane. Aspin also led the move that cut $1 billion from last year's Defense authorization and shot down flight pay for admirals and generals whose active flying days are behind them...
Like characters in a novel by Allen (Advise and Consent) Drury, two of the Nixon Administration's most powerful figures are grabbing for the sweeping economic policymaking authority once wielded by departing Treasury Secretary George Shultz. The contenders are Roy Ash, 55, once president of Litton Industries, now director of the Office of Management and Budget, and William E. Simon, 46, a former Wall Street bond trader, now federal energy czar. Simon is on the verge of winning an early round: President Nixon this week is expected to name him to succeed Shultz at Treasury, a job that apparently...
...Bronze Star as an infantry captain in World War II, and then, as advertising manager for a Chicago car dealer, pioneered the gimmick of having the dealer do his own radio commercials. One cold and icy night a decade ago, when Gray was a senior vice president of Litton Industries, he cracked up his motorcycle, fracturing a hip and a leg. Though laid up for eight months, Gray did not miss a day's work. Into a hospital room next to his own he moved a secretary, files and phones, and he continued to run the company...
...Gray has not slackened his pace a bit since he left Litton in 1971, when it appeared that he would have to wait too long for Chairman Tex Thornton and then President Roy Ash to step down. Gray moved to the presidency of Connecticut's United Aircraft Corp., world's largest maker of jet engines (Pratt & Whitney). Today he is launching a major diversification for the $2 billion-a-year company. Last week United made a deal to swap $750 million of its stock for the Signal Companies, headquartered in Beverly Hills. Signal had $1.5 billion in sales...
...Richard Nixon who assembled proud organizational experts to build a super executive machine. The leader of that machine, Roy Ash, is under assault for some of his actions as president of Litton Industries in his pre-White House days...