Word: textron
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...again? No one can yet say for sure, not even Felix G. Rohatyn, the 46-year-old Austrian-born partner in the New York investment-banking firm of Lazard Frères & Co. But Rohatyn has at least got the machinery started for a complicated and inventive deal between Textron Inc. and Lockheed Aircraft Corp. that will add new luster to Lazard Frères' reputation as masters of the art of rescuing faltering corporate giants by arranging mergers, reorganizations or financial aid. Says one Rohatyn admirer in the treasurer's office of a large corporation...
...reserves of $100 million and no debt. So AMK bought 733,-200 United Fruit shares-10% of the total-in a single block on the open market, in one of the largest transactions ever to appear on a stock-exchange tape. Black then outbid two other conglomerates, Zapata and Textron, for a controlling interest, and AMK became United Brands...
Simultaneously, the Price Commission continued to toughen its regulation of the companies with annual sales of $50 million or more that must report price and profit data. The commission ordered more rollbacks involving major companies, though relatively minor products. Textron Inc., for example, must rescind a price increase on snowmobiles, and Armco Steel will have to cancel hikes on such merchandise as soap and hammers sold in its oilfield supply stores, which account for less than 1% of Armco's sales. Both companies were also ordered to refund money to customers who were charged the higher prices. Associated Wholesale...
Died. Rupert C. Thompson Jr., 64, retired chairman of Textron Inc. and philosopher of conglomerate organization; of cancer; in Providence. In 1956, Thompson left a successful banking career, joined his friend Royal Little at Textron, then a troubled textile manufacturer, and helped turn it into a widely diversified empire. Thompson instituted independent divisions modeled on the General Motors system, became chairman in 1960 and raised Textron's sales from $383,188,000 to $1.7 billion before he retired in 1969. Today Textron has 33 divisions that make products as varied as Bell helicopters, Talon zippers, Sheaffer pens and Gorham...
...EISENHAUER Vice President Textron Providence