Word: litton
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...sold at about 20. A June 1954 story on Ampex pointed out that the boom in prerecorded tape was made possible by the company. Five dollars invested in a single share of Ampex in 1954 would now be worth $186. Similar stories have examined such rapid risers as Litton Industries (September 1958), Brunswick Corp. (September 1959), and a host of other growth companies...
...Charles Bates ("Tex") Thornton, president of Beverly Hills Litton Industries, was an Army Air Corps colonel at 28, the planning director of Ford Motor Co. at 32, the operating boss of Hughes Air craft at 35. At 47, he is a hard-working executive worth $37 million in 443,024 shares of Litton stock. It all started when he quit Hughes in the exodus of brains (TIME, Oct. 5, 1953), started his own company, which is one of the fastest-grow ing electronics firms (1959 sales: $125 million), claims to be the biggest U.S. manufacturer of desk calculating machines...
...Exchange. So great was the confusion when trading in Fairchild Camera was suspended temporarily that Exchange President Edward T. McCormick went onto the floor to discuss the break at Fairchild's trading post. Other electronics stocks followed; Texas Instruments fell 3⅞, IBM 2½. Zenith 4⅛, Litton...
That Mace is dedicated to the ideals of American Business is all but undeniable, if only from his description of Litton president "Tex" Thornton: "One of the greatest leaders of modern industry...imaginative, insists on sound planning, aggressive, dynamic, inspirational, very high sense of integrity...
...Mace has exchanged Sunday coast-to-coast flights and weekday airborne personnel conferences for commuting between the Business School and his home in Dover. And after helping to raise Litton's sales from $8.7 million in 1955 to $83 million, he has returned to Cambridge to teach and work as caretaker for a foreign business education program...