Word: mcbee
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Dates: during 1960-1969
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...based Stouffer Foods Corp. approved Litton Industries' buy-out offer of about $100 million. For Litton, which annually sells over a billion dollars' worth of products ranging from ships to space components, the Stouffer acquisition marks a second venture into consumer goods. The first was The Royal McBee typewriter company, which the sprawling West Coast company picked...
...shareholders and the Federal Trade Commission approve, as seems likely, the merger should be suitably synergistic. Diebold* will substantially lift Litton's most rapidly rising group-business equipment-which has been built by Litton's acquisition of such companies as Monroe Calculating, Cole Steel Equipment and Royal McBee...
...business has been growing by 20% a year, is expected to hit $480 million this year. A dozen major manufacturers as diverse as Royal McBee and Eastman Kodak are in it, and many other giants, including IBM, are looking. All of them are trying to copy the sales drive and scientific ingenuity of the far-ahead leader, Xerox Corp., whose earnings for the first nine months of 1964 have risen 59%. Having pioneered an electrostatic process that requires neither special paper nor chemicals, Xerox makes machines that can turn out seven to eight copies a minute at about 31? each...
Some Went Running. Rather than face further losses, Royal McBee, Underwood and General Mills quit making computers. Former RCA President John Burns lost his job largely because of RCA's huge computer-development costs. Pioneer Remington-Rand, which was merged in 1955 into Sperry-Rand, failed to capitalize on its headstart, and its Univac division is still deeply in the red. In fact, besides IBM, the only company making money on computers is the smallest one-Minneapolis' Control Data (TIME. Nov. 24, 1961). Its formula: concentrating on only a few computers and aiming specifically for the scientific market...
Calm & Confident. Godfrey, now that he has his money, has no particular plans for spending it. But. apparently, other citizens of Wink do; of the first eleven property owners who sold to McBee, three are making plans to move away. For that reason the project that was supposed to have saved Wink may sound its eventual death knell. Says one merchant: "A lot of people would have moved out a long time ago. only they didn't have any way to get the money to go." Says Wink Bulletin Editor Melvin Dow: "I'm just afraid...