Word: vought
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Dates: during 1960-1969
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...legal basis for the suit in the first place." For the Justice Department, Miner's decision was a bitter blow, coming as it did two weeks after a Dallas judge had similarly refused the department's attempt to bar the merger of aircraft-making Chance Vought Corp. into Ling-Tem-co Electronics Inc. But at week's end, as the two Chicago banks became one, a Justice Department spokesman coldly warned: "We still plan to go to trial...
...Navy is delighted by its new allotment of $709 million for procurement-the biggest package given any armed service. Most of the money will be spent for strengthening the carrier aircraft squadrons of nuclear-armed Douglas A4D-2N attack bombers and 1,400-m.p.h. McDonnell F4H-1 and Chance Vought F8U-2N jet fighters, plus Bullpup air-to-surface missiles, Tartar and Terrier surface-to-air missiles and torpedoes...
...James Joseph Ling, 38, president of Dallas' Ling-Temco Electronics, Inc., describes his business operations; if he lets go, he may be eaten. Last week, giving the tiger's tail another yank, Jim Ling used his recently acquired majority interest in Dallas' Chance Vought Corp. to merge the 44-year-old aircraft company with Ling-Temco over the protests of Chance Vought officers and other stockholders. The merger creates a Texas-based aircraft, missile and electronics complex with a backlog of $300 million in orders. Ling, who once planned to become a Catholic priest, will rule over...
...attractive merger prospect for Temco Aircraft Corp., an airframe maker that had branched into electronics. Ling was made president of the new Ling-Temco. Earnings last year equaled or slightly bettered 1959's $1.22 per share. This was 1.9% of sales, about the same ratio as Chance Vought...
Unless the courts stop Ling, his bid for control of Chance Vought might well succeed. At week's end tenders to sell him stock were still coming...