Word: sharing
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Dates: during 1960-1969
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According to the SEC staff, Merrill Lynch learned of Douglas' financial troubles while underwriting a $75 million offering of the company's convertible debentures. On June 7, 1966, the planemaker reported profits of 85? a share for the five months that ended the previous April 30. But by then Douglas, now a part of the McDonnell Douglas Corp., was running into production snags and unexpected cost increases. In its underwriter's role, said the SEC, Merrill Lynch discovered that the aircraft company's earnings outlook had worsened, and passed that fact on to some...
Luring Away. "We are not worried," says Intelsat Chairman John A. Johnson, with good reason. The U.S. alone accounts for more than half of the world's communications business. That leaves a relatively puny share for the U.S.S.R. The Russians' hope seems to be pinned on luring away some of Intelsat's present members with promises of greater authority in Intersputnik's affairs. Whoever joins, the Russians promise, will have equal voting rights in Intersputnik's council, whatever the country's size or share. Several smaller members of Intelsat resent the fact that management...
...qualify for a seat on Intelsat's 18-member governing committee, a country must have at least a 1.5% share in world telecommunications. The U.S., which owns 53.4% of Intelsat, has more say than the other 61 members combined on how to operate the system. What prices should be charged, even what firms should get supply or service contracts, are decisions made at the top. Four U.S. companies, ITT, A.T. & T., Western Union International and RCA buy up Intelsat's time and circuits and sell or lease them in turn to clients in all 62 countries...
...back, Townsend says: "Chrysler had it all. It had the plants, the engineering, the money, the dealers, everything. But it all had to be put together." Chrysler's constantly improving slice of the U.S. auto market shows how well Townsend has put it together. The company's share of the market went up from 10.3% in 1962 to 18.4% during the first seven months of 1968. Profits soared from a meager $11 million on $2.1 billion sales in 1961 to last year's $200 million on $6.2 billion sales. That trend continued during the first half...
...accounted for some 55% of company sales in the early 1960s. In 1967 Scovill bought NuTone Inc., maker of built-in home products. This year it added Caradco, the second largest window-frame producer in the U.S. For an even better balance, Scovill firmly intends to bring down the share of brass to 20% of total sales through future acquisitions...