Word: maytag
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Dates: during 1960-1969
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Only 35 to Baker's 61, L.B. (for Lewis Bergman) Maytag Jr. is a lean, even-tempered member of the washing-machine clan. But except for sizable stock holdings, Colorado-raised Bud Maytag long ago spun off all interest in the family firm (now run by his cousin...
...flying enthusiast who has logged over 5,000 hours, Maytag four years ago bought control of Colorado's small Frontier Airlines. Shy and retiring, he hired topnotch airline experts to manage day-to-day operations, was seldom seen by his 1,081 employees. But under his direction, Frontier flourished. Maytag sent his "Sunliners" into 25 new communities, improved equipment, and increased profits 75%. Last month he sold his interest in Frontier to Nevada's Goldfield Consolidated Mines for $3,000,000. Reason: "I was frustrated...
There is a ceiling on these area service lines. They are completely regulated by the Government." Casting about for another aviation investment, Maytag learned that cigar-chewing George Baker wanted to ease up and was ready to sell out his controlling interest in National. Together with his father and Brother David, Bud Maytag agreed to pay $6,400,000 for 250,000 of Baker's National shares-roughly 14% of the airline's stock...
Passion for Quality. Now back on the job after his third hospitalization for cancer in 18 months. Fred Maytag staunchly says: '"I do not intend to diminish my activities in any respect." He is acutely aware that Grandfather Maytag's most valuable bequest was his craftsman's passion for high mechanical quality. Mass production has made this increasingly hard to achieve-especially in complicated automatic washers. So once again, Maytag is bucking the trend with a pilot program giving each worker a more complex role to perform on the assembly line. Says one woman employee, whose...
...Fred Maytag's aim is to make a machine that will require no major repairs for ten years. "I'm well aware," says he, "that we have not achieved this objective, but we are making strides...