Word: tiring
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Dates: during 1960-1969
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Under crusty old (74) William Francis O'Neil, Akron's General Tire & Rubber Co. is probably the fastest-growing, most diversified company in the rubber industry. Last year General Tire and its 46 subsidiaries and affiliates grossed more than $730 million (net: $26 million), turned out such diverse products as tires, rocket engines, tennis balls, plastics, steel, wrought iron, movies and girdles. The reason for so many far-flung enterprises, explains O'Neil blithely, is that "I wanted enough diversification so that my sons wouldn't have to scrap with each other." Last week Board Chairman...
...That Tom." Like their father, the O'Neil boys (Son Hugh was killed in World War II) all went to Holy Cross, afterward were encouraged to carve out their own satrapies in General Tire's vast corporate domain. In 1940 "W.O." decided to buy Akron radio station WJW to sound off against the activities of the United Rubber Workers in his plant. When he found he could not blast away without granting equal time to the union, he bought the money-losing station anyway and turned it over to his eldest son, William Michael. In a year...
...John, a Harvard Law School graduate, was General Tire's treasurer until 1950, when he left to study for the Roman Catholic priesthood. He abandoned his studies and returned in 1955 as chief financial adviser and overseer of the company's expansion and diversification. New President Jerry, nicknamed "Smooth" by his brothers for his personality and business savvy, has been his father's executive assistant since 1951, has pioneered the expansion into the chemical and plastics fields. Even more expansion is necessary if W.O. is to prevent his 25 grandchildren (16 boys, nine girls) from scrapping with...
...Akron department-store owner, O'Neil Sr. founded the tire company in 1915, aided by $50,000 put up by his father. Impatient to grow, he would prowl around General Tire's departments, demand of executives: "Why the hell aren't you fellows making more money?" By merger and acquisition, he built General Tire into the rubber industry's fifth largest company (after Goodyear, Firestone, U.S. Rubber, and Goodrich). In 1944 he made his best deal, bought a half interest in the fledgling Aerojet Engineering Corp. for $75,000, bought another 34% chunk of the company...
...TEST, first major one in U.S. to be broadcast instead of transmitted over a closed circuit, will be started in Hartford, Conn, on station WHCT, if FCC approves. Operators: Zenith Radio Corp. and the broadcasting subsidiary of General Tire & Rubber...