Word: tools
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Dates: during 1970-1979
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...Exchange Commission last week was illustrated with color pictures of dragon-teethed drilling bits -the applicant's main product. It might have been just one of dozens of similar documents submitted by firms before their stock can be sold to the public -except for the name. The Hughes Tool Co., crown jewel of the Howard Hughes financial empire, was up for sale. Hughes inherited Toolco in 1924 at the age of 18 from his father, who had invented a triple-headed conical drilling bit that revolutionized the oil-drilling business. The company became the cornerstone upon which the ambitious...
...Tool Division, along with the Hughes Tool Co. name, will be offered to the public in 5,000,000 shares of common stock for a maximum of $28 a share, or a possible total of some $140 million. The rest of Toolco's divisions will be massed under a new umbrella organization called the Summa Corp., presumably for the Latin word meaning highest. The billion-aire-in-hiding, who is reportedly living in Managua, Nicaragua, was expectably silent on his reasons for the sale. Hughes' ex-Financial Adviser Noah Dietrich speculated that "he needs cash" to shore...
...throughout their careers. Not Jürgen Krackow, he is a German who looks like British Actor Trevor Howard, acts like an American job-hopper and talks like the multinational executive that he hopes to become. Now 49, Krackow has rotated among high positions in banking, construction and machine-tool production. Now he has taken over as chairman of the executive board of the fabled and recently troubled Krupp steelmaking and heavy machinery concern. Krackow replaces Güinter Vogelsang, who rescued the Ruhr giant from the brink of bankruptcy, then bowed out in disagreement with the powerful former chief...
...From the Olduvai Gorge in what is now Tanzania, Leakey and his wife, Mary, unearthed the 1.75 million-year-old remains of the Zinjanthropus (East Africa Man) in 1959. One year later they uncovered the slightly older remains of the Homo habilis, which Leakey identified as the first primitive tool-user. These discoveries, Leakey asserted, demonstrated that different species of men existed simultaneously and proved that their origins were in Africa rather than Asia. Though some paleontologists disputed Leakey's claims, in 1961 he unearthed still older fossils which, he insisted, showed the existence of manlike creatures who lived...
...bureaucratic answer to almost any sticky situation is to form a committee. A committee is a useful tool to the beleaguered administrator: It diffuses criticism, it shoulders blame, and, in some lucky circumstances, it performs efficiently and well. This latter quality, in most perspectives, in the crucial ingredient which traverses the chasm between the ceremonial and the purposeful...