Word: towle
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Grumman Chairman E. Clinton Towl insists that the rising costs are not the company's fault. He blames unexpectedly rapid inflation and the steady loss of other defense work, which made remaining projects more costly by forcing them to absorb more of the corporation's overhead. Grumman was hurt by termination of the moon-exploring Apollo program and the loss earlier this year of the prime contract for the $2.6 billion space-shuttle. Grumman sales in the first nine months of 1972 dropped 26% below the 1971 period, to $475 million, and profits dived 90%, to $1.4 million...
Since the death in 1960 of longtime President Leon ("Jake") Swirbul, Grumman has been piloted by E. (for Edwin) Clinton Towl, 57, one of the six air-struck men who founded the company in a Long Island garage 33 years ago (among the others: Swirbul and Chairman Leroy Grumman, now 67). Quiet and unassuming, Towl (pronounced Toll) runs less of a one-man show than colorful Jake Swirbul did. When asked to name the big moment in his career, Clint Towl grins. "Tomorrow." With that LEM contract in his pocket, he is undoubtedly right...
...major maker of guidance systems for missiles. As chief engineer at Douglas' giant El Segundo plant from 1936 to 1958, Heinemann won fame as the exponent of clean, uncluttered aircraft, designed such famous Navy aircraft as the Skyraider attack bombers and the Dauntless dive bombers. ¶E. Clinton Towl, 54, succeeded the late Leon A. Swirbul as president of Grumman Aircraft Engineering Corp. Towl was one of the founders of the company in 1929, along with Board Chairman Leroy Grumman and Swirbul. His specialty is administration and finance...
Again Felt reached for the crying towl. He had a good lead over Clements and seemed set to win, but just as he entered the River Street Bridge a pleasure boat sped past him, and he had to rest on his oars for several seconds to prevent tipping again...
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