Word: textron
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...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 the "sharpest merger activity in modern industrial history...
...Textron...
...major defense contractors sound surprisingly cheerful. "Most people think we would suffer if hostilities ended," says Chairman Daniel J. Haughton of Lockheed Aircraft "Just the opposite is true. Only 5% of our business results directly from Viet Nam." Says President G. William Miller of Rhode Island-based Textron: "A 20% cut in our defense contracts could easily be made up with only a 10% increase in our civilian sales." One reason is that civilian sales yield higher profit margins...
...Textron Inc., the big conglomerate exceeded its record 1967 first quarter with sales of $380 million (up 124%) and earnings of $15.8 million (up 14.7%). Another conglomerate, Tenneco Inc., reported a 4% rise in earnings...
Such major-league conglomerates as ITT, Litton and Textron are veterans on the playing fields of corporate acquisition. But last week's biggest merger news came from a relative rookie...