Word: litton
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...later turned out to be silver. On Jan. 22, 1973, Heavyweight Champion Joe Frazier will go up against what was the human equivalent of "troublesome stuff": George Foreman. He was a juvenile delinquent when he heard a public-service "spot" suggesting Job Corps as a solution. He came to Litton Industries' Parks Job Corps Center, and began working toward a high school diploma, which he earned. But he was still an alley fighter who got into trouble. One day the director, Dr. S. Stephen Uslan. said that if Foreman liked to fight, he should get in the ring...
...Frontier and Great Society programs, many of which are not working the way they were supposed to. His philosophy: "Money isn't the essential element in improving social conditions throughout the country." A man of similar outlook succeeds Weinberger as budget chief. Roy Ash, president of embattled Litton Industries, is charged with applying the latest management methods to Government spending-which means, essentially, spending less. Says a White House staffer: "Ash is going to take a look at the legislation, what its intent was and how it's working. This is going to be a detailed review...
...energy and inventiveness helped make Litton the pioneer in the conglomerate field. Thornton and Ash founded the company in 1953 with a $1.5 million loan. Today, though shaky, Litton is the 35th largest industrial company in the U.S. and the nation's eleventh largest defense contractor. But since the stock had dropped to 13¾ (it once was 120⅜), Ash's holdings in Litton are worth only $3,000,000; his total personal assets come to about $9,000,000. He announced last week that his Litton stock would be sold and the proceeds placed...
Died. Charles Litton, 68, electronics engineer who in 1932 founded-in his California garage-a microwave-tube company that later formed the nucleus of the Litton Industries conglomerate; of heart disease; in Carson City, Nev. After his original company grew to annual sales of $3,000,000 and became a rival to established electronic firms in the East, Litton sold his interests for $1,000,000 in 1953 to Entrepreneur Charles B. ("Tex") Thornton. While keeping the Litton name, Thornton transformed the company into a versatile giant which in 1971 had sales of over $2 billion...
...such big suppliers, Texas Instruments and North American Rockwell, recently introduced their own mini-calculator models. Other giants already in the field include Litton Industries and Hewlett-Packard. As a result of such gathering competition, the stock prices of some of the smaller pioneers, notably Bowmar Instrument and Eldorado Electrodata Corp., have dropped, even though their current profits are actually climbing...