Word: textron
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...theory that such businessmen could be taught do-it-yourself merging, Colvin quit Olivetti and enrolled a part-time faculty for Corporate Seminars. His teachers are all experts. Royal Little, retired founder of Textron, Inc., counsels Colvin's students on the pitfalls of getting together. These include such dangers as whether the mergee's inventory is all he says it is and questions such as: How do you handle your own employee reaction if his pension plan is better than yours? Answer: Increase yours if the acquisition costs justify it. David Judelson, president of merger-minded Gulf & Western...
Such U.S. corporations as Litton In dustries and Textron, which began play ing the game in the early 1950s (long before the term conglomerate became popular), could argue with that, but Matchan may have a record of sorts...
...wield over their crazy-quilt acquisitions varies widely. Many of the leading ones keep their headquarters remarkably lean. Litton is proud of the fact that it runs its far-flung empire with a central staff-secretaries and all-of fewer than 250 people. Chairman Rupert C. Thompson Jr. of Textron Inc., a $1.1 billion-a-year complex that makes everything from Sheaffer fountain pens to Bell helicopters, houses his entire headquarters in 1½ floors of a small office building in downtown Providence. So decentralized is Dallas' fast-growing Ling-Temco-Vought that it sets up its subsidiaries...
...stir the Bluhdorns and Thorntons have caused in financial circles, the public at large, says Yale Historian John Morton Blum, is "conscious of a soup company, but not of a conglomerate." To remedy that, Textron, once a confederation of textile companies, is running ads making the point that the company now makes almost everything but textiles. "Think you've got Textron down pat?" the ads read. "What about electronic systems, golf carts, helicopters, chain saws?" Another company troubled by anonymity is Harold Geneen's ITT. "You can stop 15 people in the street and not one will know...
Howe was testing a new air-cushion landing gear (ACLG) developed by Textron's Bell Aerosystems Co. of Buffalo. Based on the British Hovercraft principle (TIME, June 2) and conceived by Bell's T. Desmond Earl and Wilfred J. Eggington, the system employs an elastic bag made of laminated nylon and rubber attached to the underside of the plane. For takeoffs and landings, the bag is inflated through louvers in the plane's underbelly by a fan on board. Air is forced through hundreds of openings on the underside of the bag, producing an air cushion that...