Word: summa
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Dates: during 1970-1979
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Much of the uncovering of Hughes' past is going to take place in courts of law. At last count, 14 lawsuits were outstanding against Hughes and his wholly owned firm, the Summa Corp., which was founded in 1972 as an umbrella company for his many enterprises...
...Hughes' Summa Corp., his aides, and his doctors may issue denials and rebuttals (those whom TIME sought to interview for their version either refused to talk or failed to return phone calls). It is true that they were dealing with a capricious, iron-willed man. They may argue that they were only obeying orders: Hughes wanted to live in utter privacy, away from the bedevilments of process servers and litigious lawyers hoping to cash in on his billions. He wanted, they may contend, protection from the prying press, which Hughes loathed with a passion. He also wanted isolation from...
...Summa Corp. and Hughes' assorted relatives all contend that the Mormon will is a fake. Summa is run by a triumvirate: Frank William Gay, 55, who is president and chief executive officer; Nadine Henley, 70, one of Hughes' earliest assistants, who is senior vice president; and Chester Davis, 66, an abrasive Wall Street lawyer, who is Summa's legal strategist. Hughes' maternal nephew, William Lummis, 47, joined Summa as chairman to avoid a struggle for the spoils between the company and the relatives...
Currently, the Hughes empire is being run largely by three longtime Hughes associates: Bill Gay, Nadine Henley and Chester Davis. Emerging as a power is Will Lummis, Hughes' 47-year-old nephew, who is a Houston lawyer. He was named Summa's board chairman last August in a deal to avoid conflict between Hughes' Houston heirs and the ruling triumvirate at Summa. But the relationship is showing signs of strain. Recently, Lummis began and ended a board meeting before Davis arrived...
...Summa appears to be doing well in the absence of the boss. Traffic on Hughes Airwest's Los Angeles-to-Las Vegas route is up 11% from last year. Hughes engineers are building a prototype attack helicopter in competition with Bell for a $1 billion Pentagon contract. KLAS-TV in Las Vegas is bristling with $1 million in new equipment. In October, the new $4 million Hughes Aviation Terminal opened formally in Las Vegas. Among its features: banks of slot machines, a U.S. customs station, and a liquor store that sells Coors by the case...