Word: temco
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WHEN the Navy in 1960 canceled a $450 million contract for Corvus Air-to-Ground missiles, Prime Contractor James J. Ling pondered his loss for a few minutes, then said, "Well, let's get back to work." Last week Ling's Dallas-based Ling-Temco-Vought was picked to design and build a Navy light attack plane under a contract that may total $2 billion. "Well," said Chairman Ling again, "let's get back to work." Single-mindedness, along with a seasoned chess player's ability to plot moves and perceive alternatives, has brought Ling...
Post has also begun to dabble outside insurance with great success. With James Ling, boss of Ling-Temco-Vought, he is building a 31-story skyscraper in Dallas. A Post mutual fund called Life Insurance Stock Fund, with a portfolio of life insurance shares, last year increased its value per share from $5.99 to $13.01, for the best gain of any U.S. mutual fund. (Current value per share...
...nation's biggest industrial companies actually operated at a loss. General Dynamics, which lost a massive $143 million on its jet-transport debacle (TIME, Sept. 15 et seq.), led the red-ink list. It was followed by J.I. Case (loss: $32 million), Yuba Consolidated ($14 million), Ling-Temco-Vought ($13 million), Underwood ($9 million) and Hearst ($9 million). Of these seven heavy losers, all but Ling-Temco-Vought had also...
...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...