Word: temco
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Dates: during 1960-1969
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...Having a tiger by the tail" is the way James Joseph Ling, 38, president of Dallas' Ling-Temco Electronics, Inc., describes his business operations; if he lets go, he may be eaten. Last week, giving the tiger's tail another yank, Jim Ling used his recently acquired majority interest in Dallas' Chance Vought Corp. to merge the 44-year-old aircraft company with Ling-Temco over the protests of Chance Vought officers and other stockholders. The merger creates a Texas-based aircraft, missile and electronics complex with a backlog of $300 million in orders. Ling, who once...
...Flexible dishwasher, produced by Ling-Temco Electronics, designed to fit into many areas hitherto inaccessible to conventional dishwashers. It can be recessed in a wall, mounted on a wall, placed on top of a counter, below a built-in range or hung as a room divider. Price...
...indulge his golfing hobby by bringing big-time professional golf matches to hometown Dallas. They failed miserably, lost $100,000. But he could well afford it. Since 1947 he has run an investment of $3,000 in an electrical contracting business into the $150-million-a-year Ling-Temco Electronics, Inc. and made himself a millionaire...
Neat Fit. Chance Vought fits neatly into Ling's plans to build Ling-Temco into a power in the electronic communication field. Besides its missile and electronics skills, it has a large plant next door to Ling-Temco's outside Dallas. Plant facilities are among Ling's most urgent needs for the expansion he sees ahead...
...Ling grew, he bought ten electronics companies, making equipment ranging from vibration testing devices to transmitters for tracking satellites. Last year he was big enough to be an attractive merger prospect for Temco Aircraft Corp., an airframe maker that had branched into electronics. Ling was made president of the new Ling-Temco. Earnings last year equaled or slightly bettered 1959's $1.22 per share. This was 1.9% of sales, about the same ratio as Chance Vought...