Word: lings
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...overextended himself, as he did in 1961 when he almost lost control of his company. Last year Ling borrowed $900 million to snare Jones & Laughlin, National Car Rental, and Braniff Airways whose latest advertising campaign shows odd couples flying high. He tried to refinance part of that debt last fall, but investors spurned his efforts. Ling scoffs at the doubters. "This is just the year to kick conglomerates," he says. He planned to sell off a small slice of Braniff, most of National Car Rental and perhaps a few other securities to raise all the funds that he said...
Many other makers of conglomerates have joined Miller, Bluhdorn and Ling in that elite group of American businessmen who have boosted their sales to more than $1 billion a year. Henry E. Singleton, a Ph.D. from M.I.T., has built Los Angeles' Teledyne Co. into a $1 billion conglomerate in eight years by moving into metals, electronics and defense systems...
...investigate these acquisitive companies with a view toward eliminating the tax advantages that help them to make mergers (TIME, Feb. 21). A growing number of Wall Street analysts are beginning to suspect that many conglomerates have been overpriced. One of the most controversial conglomerates of all is debt-ridden Ling-Temco-Vought, which plans to reduce its controlling interest in Braniff Airlines from 67% to 55% and sell off some other assets, including all of its holdings in National Car Rental. L.T.V.'s stock declined last week by 81 points...
...Grady Green, vice president of the $351 million Channing Growth Fund. Channing ranked high in 1967, when it grew 47%; last year, with a growth of 2.6%, it was 296th. Like the Manhattan Fund and many other big funds, Channing was heavily invested in the more seasoned glamour stocks-Ling-Temco-Vought, Fairchild Camera, Polaroid-that declined during the stock slump before Lyndon Johnson's March 31 renunciation, and have been slow to recover. Big funds cannot move out of such stocks quickly without upsetting the market; but smaller funds can-and they did. In a highly selective market...
...disparate spirits as Arjuna, Chemosh, Mailer, Nixon, Tristan, Bruckner, and the confluence of latent universal souls thrashing about in the torpid light of Art. Let us ublimate the manifold contradictions of life in an decipherable moment of ineffable unity. And so, rowing Endgame on top of Presidential Power, and ling the ineluctable pull of some Taoist-Maoist dooms against my Captain Shotover-Thomist faith, I ded for Sanders to hear the Stravinsky Mass, and oral works by Britten and Dello Joio in honor of the atron saint of music...