Word: litton
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...eccentric, erratic Howard Hughes. Thornton quit Hughes Aircraft in the same big blowup of Hughesmen (TIME, Oct. 5, 1953) that sent Simon Ramo and Dean Wooldridge off to start their own famed Ramo-Wooldridge Corp. With Thornton went Roy L. Ash, Hughes Aircraft's assistant controller and now Litton...
...kids, Charles Bates Thornton stands out as a wonder. He was an Air Force colonel at 28, the planning director of Ford Motor Co. at 32, the operating boss of Hughes Aircraft at 35. Now-at 45-he heads one of the fastest-growing electronics makers: Beverly Hills' Litton Industries. In five years under Thornton, Litton's yearly sales have risen from $3,000,000 to $83 million, are expected to top $110 million in the twelve months ending next July. Last week "Tex" Thornton was ready to bite off another chunk of the market. He said that...
...Litton products have already gone far round the free world. In Turkey, a probing Litton radar antenna reportedly keeps tabs on Soviet missile firings. Across the far north of Canada and Alaska, Litton klystron tubes generate radar beams for the Distant Early Warning line. At almost every sizable U.S. airport, Litton antennas help control flights; in universities, Litton digital desk computers solve calculus jawbreakers. Litton claims to be the nation's biggest seller of desk calculating machines, the broadest supplier of TV replacement transformers (more than 900 different models), one of the two largest makers (along with American Bosch...
MERGER TALKS are going on between Beverly Hills' Litton Industries, Inc., fast-growing maker of electronic equipment (TIME, April 29), and Underwood Corp. (1956 operating loss: $3,571,420), which recently talked merger with National Cash Register...
...Litton Industries was started in 1953 by Charles B. ("Tex") Thornton, a onetime Hughes Aircraft Co. executive who left with Ramo and Wooldridge. Backed by Lehman Bros, and other investment bankers, he bought going companies for their products and talent. Today, with 16 small firms in its fold, Litton makes radar tubes, printed circuits, high-quality transformers (780 models), typewriter-sized computers selling for $12,000, dozens of other electronic gizmos. Sales in 1954: $3,000,000. In 1956: $15 million, with $25 million estimated for 1957. Litton's stock, which sold for $10.50 two years ago, now trades...