Word: stewart
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Dates: during 1970-1979
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...certainly the most daring of the conglomerate builders took the terrible blow again−from much the same source. At a four-hour emergency board meeting, called at the insistence of LTV's nervous bankers, Ling stepped down as chairman and chief executive in favor of Robert Stewart III, a corporate rescue expert who is chairman of the First National Bank in Dallas. Ling replaced Clyde Skeen as president of cash-strapped LTV, which had sales last year of $3.75 billion, and the company announced that Ling and Stewart will "share policymaking responsibilities." They are going to need...
...share at the time of the acquisition to a low of $8.37 last week. Post put himself on the LTV board in February. When the first quarter ended with a $6.5 million loss and there was no turnaround in sight, Post's patience became shorter. Banker Stewart, 44, who was elected to the board just last month, joined with Post to force Ling's ouster...
...this simple," says one of the directors. "The first thing at the meeting, Bob Stewart got up and said he was speaking for all of the banks and lenders. They were so concerned over the situation and the outlook for the company that they insisted a change be made−that Stewart go in as chairman. Bob said that the banks had reached a point where they were ready to pull out−ready to recall their notes−if some big change weren't made immediately. Jim took it like a man and went up a few notches...
...only been up there for an hour an a half," Stewart said...
...Yeah, but he's been up there for an hour an a half." In a matter of minutes, Stewart and Robbie were quieted, Karen learned what Chaos meant, and the boy in the vest resumed his baroque sketches in the margins of his notebook...