Word: litton
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Myles Mace, who returned to Harvard this fall as professor of Business Administration, has done just that for the past three years, as a director, vice-president, and chairman of the Management Committee of Litton Industries in Beverly Hills, California...
Battle for Brains. With Lehman-raised cash, Thornton and associates bought Litton, then a small microwave-tube outfit that had supplied Hughes with its best magnetrons, i.e., vacuum tubes that emit radar impulses. During the next 15 months, Litton used stock and cash to pick up half a dozen little-known firms making computers, printed circuits, servomechanisms, communications and navigation equipment. When Litton bought Digital Controls Systems Inc. in 1954, it also got brilliant Research Scientist George Steele; Steele heads Litton's work on lightweight computers that make up to 15,000 calculations per second for a plane...
Battle for Survival. So fast did Thornton collect companies that many a competitor called Litton a house of cards, figured it would collapse under the blow of the recession. Yet Litton kept right on expanding. Early this year Litton merged with New Jersey's Monroe Calculating Machine Co. (sales: $40 million) because
Thornton figures that Litton's talents fit in perfectly with the electronic changes that are revolutionizing the business-machine field...
...carrying out a master plan for a balanced company, Litton now has a healthy sales split of 45% military, 55% commercial. Yet Thornton, is the first to admit that "we have a long way to go"-and that the road ahead will be slippery. Though Litton's profits reached $3,700,000 in the last fiscal year, they have yet to live up to the price of his highly touted, fast-rising stock, now selling at 56^-or 26 times earnings. The competition in the industry is growing so rough that competitors still question whether Litton is strong enough...