Word: raytheon
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Dates: during 1950-1959
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...these electronic wonders are the product of Boston's Raytheon Manufacturing Co., a kind of Buck Rogers, Inc. A prewar pygmy whose sales never topped $5,000,000, Raytheon grew into a giant during World War II, when it made more than half of all the search radar used by the Allies, and its sales hit a peak of $178 million. (Its stock had an even more fantastic rise, shot from 50? in 1940 to a high of $90 in 1945.) But at war's end, Raytheon ran into the red as its sales tumbled to around...
...head of a rescue committee. Says Adams: "None of the other directors wanted the job because they'd lose their reputations if we went under. I, having no reputation to lose, said sure, this is a challenging situation." Adams, a Harvardman ('32) and investment banker, got Raytheon into fighting trim, soon stepped on to the bridge as executive vice president. Four years ago Laurence K. Marshall, who had founded the company in 1922 with the help of M.I.T.'s famed Scientist Vannevar Bush, retired as president, and Adams took over. Through Belmont Radio Corp., a Chicago subsidiary...
Test Ahead. Now Raytheon has a rearmament backlog of $180 million, much of it for the continental radar defense screen against Soviet A-bombers, and anti-submarine sonar for the Navy. Among its other products...
...Transistors, the tiny devices which can do the work of electronic tubes, use far less energy, and last indefinitely. Raytheon thinks transistors may eventually replace TV and radio tubes...
Despite its rearmament backlog, Raytheon is not neglecting its civilian market, including commercial radar. It recently built the world's biggest antenna for the harbor of Le Havre, France. Last week, with long-sluggish TV sales picking up once more, President Adams flew out to Chicago to show off Belmont's newest "Vu-Matic" television models. The "Vu" stands for very high frequency and ultra-high frequency. Raytheon claims its new tuners will be able to cover the whole radio spectrum...