Word: thorntons
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Dates: during 1960-1969
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...Charles Thornton, chairman, Litton Industries...
Most businessmen consider the last 10% or so of capacity in most industries almost inevitably inefficient, agree that producing at full capacity leaves no room for flexibility and frequently leads to costly breakdowns and power failures, crash expansion programs and industrial slovenliness. Chairman Charles ("Tex") Thornton, 49, of Litton Industries, which has done so well in keeping ahead of the competition with new electronics products and processes that its sales have increased an awesome 13,000% in the ten years of its history, believes that "to properly modernize U.S. industry, there should be expenditures of $100 billion to $300 billion...
...former Ford President McNamara. A top student at U.C.L.A. in banking and finance, he at first wanted to become a teacher, changed his mind during the war after teaming up with nine other brilliant young men at the Air Force's statistical school at Harvard. Led by Tex Thornton, now chairman of Litton Industries, and including McNamara, they offered themselves in a package deal to Henry Ford II in 1946, went on to become the famous "Whiz Kids" who revivified ailing Ford...
Died. Chauncey Brewster Tinker, 86, Yale's great teacher of English literature (among his students: Stephen Vincent Benet, Sinclair Lewis, Archibald MacLeish. Thornton Wilder) and the university's keeper of rare books, world-renowned for his 1925 discovery of a supposedly destroyed collection of Boswell papers; of a stroke; in Hartford, Conn. Tink's literary sleuthing uncovered the papers in Ireland's Malahide Castle, but he was unable to persuade Lord Talbot de Malahide, Boswell's great-great-grandson, to part with the vast trove. It remained for Lieut...
...allow workers to have their salaries credited directly to bank accounts. But they feared the prospect of everybody in Britain stampeding to the banks on Friday afternoon to cash their checks. "The banks would be overwhelmed if there were such a mad rush," says Barclays Bank Vice Chairman Ronald Thornton. Small trades men also disliked the idea of having to cash a flurry of checks, fear that they will become stickup targets if forced to keep larger sums of cash on hand. Employers, too, were lukewarm to the whole idea, since writing out checks means more work making up payrolls...