Word: vought
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Dates: during 1960-1969
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...Association President Howard Laeri, "may turn out to have more ambition than talent." Such fears were quickly reflected on the stock market. Last week Litton's common stock, which sold for over $120 a share last October, closed at $73.37. Other conglomerate stocks, including Teledyne and Ling-Temco-Vought, also dropped sharply...
First conceived by the Navy in 1962, the plane went into development in 1964 because of its unique serviceability in Viet Nam. Ling-Temco-Vought, maker of the gull-winged propeller-driven Corsair fighter of World War II, produced the first craft in 18 months, has since delivered more than 125 Corsair IIs to the Navy, which has ordered 1,500 (estimated cost per craft: $1.4 million, v. $9.75 million for the F-111B). The Air Force has ordered approximately 500. The Corsair II will replace the Navy's A-4E Skyhawk and the Air Force...
...such nonfood items as chemicals and insurance, plans further diversification. Admittedly curious about rumors of Simon's interest in his company, Reneker claims that he does not plan to let Swift go the way of other meat packers such as Wilson & Co., which was acquired by Ling-Temco-Vought, and John Morrell, which is expected to become the property of AMK Corp. by year's end. Says Reneker: "If you think I'd like that idea for Swift, you are hearing me wrong...
...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 in seven publicly owned (but L-T-V-controlled) companies. In that way, explains L-T-V President James J. Ling, each company is "visible to the public and must be viable and capable of standing...
...sharpest corporate skirmishes in memory swirled around Milwaukee last week, as Allis-Chalmers Manufacturing Co. found itself under heavy assault. The battle was joined by James Joseph Ling, 44, chairman of Dallas-based Ling-Temco-Vought, who during a nine-day fight for control of the company had eventually made a tender offer valued at $560 million-one of the biggest ever. But by week's end, staid Allis-Chalmers, which is the area's biggest employer, had delivered L-T-V its first defeat-however temporary-in Ling's long takeover history...