Word: transitron
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Certainly tech stocks were no slam dunk in the '50s, when transistors replaced the vacuum tube, or in the '60s, when microchips supplanted simple transistors. Those developments gave rise to the upstart Intel, while the shares of companies like Transitron Electronics melted away...
...sprouted to produce such things as magnetic memory cores for Litton Industries and power transistors for Fairchild Camera. Factories in Mexicali make integrated circuits for Raytheon and motor parts for Western Gear. In Nuevo Laredo, southwest of Laredo, Texas, Mexican workers are doing everything from making electronics parts for Transitron Electronic Corp. to sorting supermarket "cents-off" coupons for the A.C. Nielsen Co., the big TV-rating and marketing-services firm...
...market break, but the 20 issues in Standard & Poor's index of low-priced stocks (less than $20) have jumped 39% above, their midyear lows. The most vigorously traded stocks lately have been highly speculative issues that have climbed spectacularly from their lows earlier this year. Among them, Transitron is up from 5 to 12⅛, Ampex from 13⅜ to 26⅜, Fairchild Hiller from 7 to 21, and SCM from...
...Transitron stockholders, including five mutual funds, filed federal suits against the Bakalars. who made a personal profit of $56 million by selling off 30% of their stock. The charge: Transitron registration statements had contained false or misleading information or significant omissions about sales, inventories, plant values and patent rights. Though they denied the charges, the Bakalars nevertheless agreed to an out-of-court settlement unique in financial history...
Under terms approved last week by Boston Federal District Judge Charles E. Wyzanski Jr., the brothers will put up $5,300,000. Of that the five mutuals, who claim $4.000,000 losses on Transitron. would be reimbursed for litigation costs up to $300,000. The remaining money would be split among them and individual stockholders who held Transitron between December 1959 and February 1962. Either the Bakalars or the plaintiffs may yet back out, but the settlement could actually be a saving for Transitron: in return, Judge Wyzanski granted the brothers an order barring similar suits against their now sagging...