Word: temco
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Cleaning Up. Republic has lent $1 billion to finance oil drilling, more than any Southwest bank. Florence was a chief mover in bringing Temco Aircraft to Dallas, which in turn helped persuade Chance-Vought to come. He also helped organize Lone Star Steel Co., biggest in Texas. Partly to persuade big Texas borrowers that it was no longer necessary to go to New York, Florence gave Republic the most impressive face in Dallas-a $25 million, 40-story building sheathed in aluminum. The skyscraper has acted as a magnet to bring Dallas such other structures as the new Hotel Statler...
MISSILE PRODUCTION will be started by Temco Aircraft Co., No. 1 U.S. airframe subcontractor. Dallas firm has just won $16 million Navy contract to develop secret new missile, will increase its 750-man engineering force...
...owns 60% of the American Security Insurance Co., has $250,000 invested in four auto finance companies. In 1945 Investor Moore was one of a half-dozen businessmen to take over North American's idle Dallas airplane plant, helped organize the Texas Engineering and Manufacturing Co. Temco now grosses $72 million a year as an Air Force subcontractor, with profits of $2,668,210. Says Millionaire Moore, who owns 85,534 shares of stock: "Getting in on the ground floor of anything is the surest way to make big gains. You put in $25,000 and suddenly...
FACING a slash in its budget, the Air Force is already pulling in its belt on noncombat planes. It canceled orders for 420 T36 trainers placed with Beech and Canadair, recalled 37 C-54 transports that it had leased to airlines. The Navy also canceled Temco Aircraft's "secondary source" contract for some 100 F3H-1 Demon jet fighters. McDonnell Aircraft, the primary supplier, was unaffected. Current backlog of all aircraft orders: $18 billion, enough to keep the industry busy for more than two years...