Word: temco
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...today's rush to diversify, nothing attracts corporations more than recreation. Recent takeovers have included those by Chicago's Victor Comptometer of the company that makes Daisy BB guns, by Cleveland's "Automatic" Sprinkler Corp. of Rawlings Sporting Goods, by Ling-Temco-Vought of Wilson Sporting Goods, and by General Mills of game-making Parker Bros. Last month Fuqua Industries, a fast-growing conglomerate whose sales are above $60 million, reached far beyond its landlocked Atlanta base to buy Pacemaker Corp., a New Jersey boatbuilder with estimated sales of $25 million a year...
...sooner had TWA announced its shift than Braniff announced that it was pulling out of Wells, Rich, Greene. Reportedly, Ling-Temco-Vought, the Dallas conglomerate that took Braniff under its corporate wing last January, had long been leary of the Braniff relationship with Wells, Rich, Greene, and was pressing for just such a change...
...rage-the conglomerate company-in disarmingly simple terms. "If you have all your eggs in one basket, you're stuck with those eggs," says Bluhdorn. "But if you've also got apples and bananas, that's something else." Following that formula, Bluhdorn, James Ling of Ling-Temco-Vought, Harold Geneen of ITT and several others have traced the tracks of such conglomerate pioneers as Litton and Textron across industry lines into movies and machinery, aircraft and auto parts, cigars, cybernetics and clothing. Along the way, the conglomerates have stirred up what the Federal Trade Commission calls...
...Ling-Temco-Vought...
There was also plenty of push and shove lower down on the list. Nine companies appeared for the first time among the industrial corporations with sales of more than a billion dollars: Ling-Temco-Vought, Signal Oil & Gas, Raytheon, Consolidated Foods, Honeywell, Coca-Cola, Getty Oil, TRW and Colgate-Palmolive. Five other corporations-Inland Steel, Grumman Aircraft Engineering, General Tire & Rubber, Jones & Laughlin Steel, and Olin Mathieson Chemical-fell out of that group. In sum, including also the merger of the billion-dollar member Douglas Aircraft into McDonnell Douglas last year, there was a net gain of three...