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A View from the Tower - A Management View of Ling-Temco-Vought

Don Stokes

Sound | c. 1965

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TAMI Tags
  •  James J. Ling, Chairman of the Board and CEO 
  •  Clyde Skeen, President of LTV 
  •  Braniff Airlines freight handling facility in Dallas 
  •  Paul Dashine, President and CEO of the Okonite Company 
  •  Charles M. Beeghly, Chairman of the Board and CEO Jones and Laughlin Steel Corporation 
  •  Williams J. Stephens, President and Chief Operating Officer Jones and Laughlin Steel Corporation 
  •  William P. Holmes, President and Chief Executive Officer Wilson Sporting Goods Co. 
  •  George J. Binder, Chairman of the Board Wilson Pharmaceutical and Chemical Corporation 
  •  Blake H. Hooper, President and CEO Wilson Pharmaceutical and Chemical Corporation 
  •  Roy V. Edwards, President and CEO Wilson and Co. Inc. 
  •  A. A. Ward, Chairman of the Board LTV Ling Altec Inc. 
  •  Lee D. Webster, President and CEO LTV Ling Altec, Inc. 
  •  K. C. Glaser, Chairman of the Board National Car Rental System, Inc. 
  •  W.B. McKinstry, President National Car Rental System, Inc. 
  •  Harding L. Lawrence, Chairman of the Board, President and CEO, Braniff Airways, Incorporated 
  •  W. Paul Thayer, President LTV Aerospace Corporation 
  •  James O. Weldon, Chairman of the Board LTV Electrosystems, Inc. 
  •  E. F. Buehring, President LTV Electrosystems, Inc. 
  •  Roscoe Haynie, Chairman of the LTV Executive Committee 
  •  George E. Griffin, Vice President – Financial Plans 
  •  Joseph G. Bacsik, Vice President and Controller 
  •  H.M. Eitel, Vice President 
  •  John L. Cockrill, Vice President – Administration 
  •  Bill Axness, Assistant to the Chairman of the Board and CEO 
  •  M. E. Roth, Vice President – Executive Assistant to the President 
  •  John W. Johnson, Vice President – Public Relations and Advertising 
  •  Forbes Mann, Vice President – Government and Foreign Relations 
  •  Dan Burney, Vice President Secretary and General Counsel 
  •  J. W. Dixon, Vice President – Plans 
  •  Bernard L. Brown, Vice President and Treasurer 
  •  R. C. Blaylock, Vice President – Technical Director 
 
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With a history rooted in a group of Dallas area firms, Ling-Temco-Vought (LTV) became one of the worlds largest conglomerate corporations. Produced for Ling-Temco-Vought by Dallas-based Bill Stokes Associates, this film provides an overview of the rapid growth of the corporation. Through interviews with executives at LTV and its subsidary corporations and images of products, the film outlines the company's history of mergers and acquistions that made it into one of the world's corporate giants.
Ling-Temco-Vought became a large conglomerate, though it began with just one man.  James Ling started with Ling Electric Company in 1947, a small Dallas contractor business.  He marketed his stock door-to-door and at the State Fair of Texas until 1956, when enough money was raised to buy L.M. Electronics, his first acquisition. Altec Electronics was added three years later.  Ling merged with Temco Aircraft in 1960 and bought Chance Vought's aerospace firm later that year.  The trio was renamed Ling-Temco-Vought. The company built itself up as a conglomerate that decade, adding a wire and cable company, golf equipment, medicine, resorts, electronics, and steel manufacturing, among other businesses.  In total, the conglomerate consisted of 33 companies, 29,000 employees, and 15,000 products or services.
 
The death of this giant came when it was discovered that individual companies had grown at a higher rate before acquisitions, creating much down in the conglomeration.  Ling was demoted and eventually left the company.  Several divisions were slowly sold off.  Ling-Temco-Vought became the LTV Corporation in 1971. The Vought portion was eventually sold, yet retained its name as a new company.  LTV sold off more portions until its focus remained on steel manufacturing.  It survived as LTV Steel for some years until going bankrupt in 2000, breaking up railroad divisions and selling all remaining inventory by 2002.