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Founded in 1923 as the Special Yarns Company by Royal Little, Textron NYSE: TXT, today is a multi-industry company with a portfolio of familiar brands such as Bell Helicopter, E-Z-GO, Cessna Aircraft, and Greenlee, among others. With total revenues of $10 billion, and more than 37,000 employees in nearly 33 countries, Textron is headquartered at the Textron Tower in downtown Providence, RI, USA, and currently ranked 190th on the Fortune 500 list of largest companies Image File history File links No higher resolution available. ...
This article does not cite any references or sources. ...
New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE) is one of the largest stock exchanges in the world. ...
Year 1923 (MCMXXIII) was a common year starting on Monday (link will display the full calendar) of the Gregorian calendar. ...
“Providence†redirects here. ...
Conglomerate is the term used to describe a large company which consists of divisions of often seemingly unrelated businesses. ...
For the tax agency in the United Kingdom of the same name, see HM Revenue and Customs. ...
Image File history File links No higher resolution available. ...
The United States dollar is the official currency of the United States. ...
Year 2006 (MMVI) was a common year starting on Sunday (link displays full 2006 calendar) of the Gregorian calendar. ...
For the album by the Kaiser Chiefs see Employment (album) Employment is a contract between two parties, one being the employer and the other being the employee. ...
A website (alternatively, Web site or web site) is a collection of Web pages, images, videos and other digital assets that is hosted on one or several Web server(s), usually accessible via the Internet, cell phone or a LAN. A Web page is a document, typically written in HTML...
The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ...
Categories: Aircraft stubs | Corporation stubs | U.S. aircraft manufacturers ...
E-Z-GO is a golf car and utility vehicle company based in Augusta, Georgia. ...
Cessna Aircraft Company, located in Wichita, Kansas, is a manufacturer of general aviation aircraft, from small two-seat, single-engine airplanes to business jets. ...
The Textron World Headquarters building (formerly known as the Old Stone Tower) is an International-style skyscraper in downtown Providence, RI. At 311 feet (95m), it stands as the 4th tallest building in the city and the state. ...
Providence is the capital and largest city in Rhode Island, a state of the United States of America. ...
The Fortune 500 is a ranking of the top 500 United States corporations as measured by gross revenue. ...
Organization
- Bell
- Cessna
- Textron Financial Corporation
- Industrial
- E-Z-GO (golf cars and utility vehicles)
- Greenlee (wire and cable installation tools)
- Jacobsen (lawn care products)
- Kautex (plastic fuel systems)
- Fluid & Power Group
Categories: Aircraft stubs | Corporation stubs | U.S. aircraft manufacturers ...
Founded in 1923 as the Special Yarns Company by Royal Little, Textron NYSE: TXT, today is a multi-industry company with a portfolio of familiar brands such as Bell Helicopter, E-Z-GO, Cessna Aircraft, and Greenlee, among others. ...
For other meanings of Lycoming, please see Lycoming (disambiguation). ...
Cessna Aircraft Company, located in Wichita, Kansas, is a manufacturer of general aviation aircraft, from small two-seat, single-engine airplanes to business jets. ...
E-Z-GO is a golf car and utility vehicle company based in Augusta, Georgia. ...
Early History Royal Little, a Harvard graduate and veteran of World War I, founded the Special Yarns Company in 1923 with $10,000. With over 19 million spindles, Special Yarns Company saw early success in the niche market of synthetic yarns. Harvard University is a private university in Cambridge, Massachusetts, USA, and a member of the Ivy League. ...
“The Great War †redirects here. ...
Special Yarns Company acquired Franklin Process Company, a cotton yarn processing company in Rhode Island in 1928. This was the first merger of what would ultimately become Textron, the first multi-industry company. “RI†redirects here. ...
Year 1928 (MCMXXVIII) was a leap year starting on Sunday (link will display full calendar) of the Gregorian calendar. ...
The phrase mergers and acquisitions or M&A refers to the aspect of corporate finance strategy and management dealing with the merging and acquiring of different companies as well as assets. ...
By 1930, Special Yarns sold about 4% of all rayon used in the United States, and the company changed its name to Atlantic Rayon. In 1939, the Lawrence Manufacturing Company was added. Year 1930 (MCMXXX) was a common year starting on Wednesday (link will display 1930 calendar) of the Gregorian calendar. ...
Rayon is a manufactured regenerated cellulosic fiber. ...
Year 1939 (MCMXXXIX) was a common year starting on Sunday (link will display the full calendar) of the Gregorian calendar. ...
The Board of Directors authorized the investment of $100,000 to form the Atlantic Parachute Corp in 1942, which manufactured parachutes for the United States Government. This marked a significant change for the company – from a small yarn dyeing and throwing business, to a major manufacturer of finished, sewn products. Sales tripled in the first two years, and employees increased from 900 to 3,000. Invest redirects here. ...
1942 (MCMXLII) was a common year starting on Thursday (the link is to a full 1942 calendar). ...
Parachutes is the debut album by English rock band Coldplay, released on July 10, 2000 in the UK and on November 7 in the U.S., making it the only Coldplay album to have a delayed release in America. ...
By this time, silk was no longer available in enough supply to keep women in hosiery. Now markets turned to the same synthetics used to produce parachutes for the warfighting men abroad. Unfortunately, rayon made for a baggy stocking, and a bare-legged fashion began. Little remained undaunted, however, and used these machines to produce blouses, men's underwear, bedspreads, and draperies. But with these new products came the need for a new name. After considering "Senorita Creations," "Textron" (“Tex" for "textiles," and "tron" for "synthetics") became the official name. To support the growing business, Little purchased several additional textile mills during the same period. Silk dresses Silk is a natural protein fiber, some forms of which can be woven into textiles. ...
Hosiery describes undergarments worn directly on the feet and legs. ...
A pair of mens briefs Undergarments, also called underwear or sometimes intimate clothing, are clothes worn next to the skin, usually under other clothes. ...
A comforter is a type of blanket. ...
This does not adequately cite its references or sources. ...
The cotton mill is a type of factory that was created to house spinning and weaving machinery. ...
In 1947, Textron was listed on the New York Stock Exchange for the first time, under the ticker symbol TXT. Year 1947 (MCMXLVII) was a common year starting on Wednesday (link will display full 1947 calendar) of the Gregorian calendar. ...
The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ...
A stock symbol or ticker symbol is a mnemonic used to uniquely identify shares of a publicly-traded corporation on a particular stock market. ...
Diversification Creates the World’s First Multi-Industry Company Little was realizing in 1952 the inevitable highs and lows of a company focused on one market. He realized that by diversifying the product offerings of Textron, he could balance the fluctuation of any single market. By purchasing relatively small companies in a variety of industries, he reasoned, he could also avoid any concerns by the Federal Trade Commission that he was forming a monopoly. 1952 (MCMLII) was a Leap year starting on Tuesday (link will take you to calendar). ...
Diversification is a measure of the commonality of a population. ...
FTC headquarters, Washington, D.C. The Federal Trade Commission (or FTC) is an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act. ...
A monopoly (from the Greek language monos, one + polein, to sell) is defined as a persistent market situation where there is only one provider of a product or service, in other words a firm that has no competitors in its industry. ...
Textron’s first purchase outside the textile industry was Burkhart Manufacturing, which produced cushion materials for the automotive industry. Next came Dalmo Victor Company, which produced radar antennas. Today this group is part of the Bell business segment, and produces electromagnetic defense systems for aircraft. Automakers are companies that produce automobiles. ...
From these early days, acquired companies were taken on as divisions, not subsidiaries. This eliminated the boards of directors for these companies, and allowed revenue generated by the divisions to flow directly to Textron. In 1955, Textron acquired American Woolen, significantly increasing its net worth and stock price. In just a few months, Ryan Industries (maker of mechanical and electromechanical devices such as a pistol that fired triangular bullets), Homelite (chain saws, power generators, blowers, and pumps), Camcar Screw and Manufacturing Company, Coquille Plywood, and Kordite Company (plastic clotheslines, garment bags, and shower curtains). A subsidiary is a corporation controlled by another. ...
Year 1955 (MCMLV) was a common year starting on Saturday (link displays the 1955 Gregorian calendar). ...
Net worth (sometimes net assets) is the total assets minus total liabilities of an individual or company. ...
See stock (disambiguation) for other meanings of the term stock In financial terminology, stock is the capital raised by a corporation, through the issuance and sale of shares. ...
Wind turbines The scientific definition of a machine is any device that transmits or modifies energy. ...
In engineering, electromechanics combines electromagnetism and mechanics. ...
Image:Blowers. ...
A pump is a mechanical device used to move liquids or gases. ...
A shower curtain with a penguin pattern Shower curtains are curtains used in bathtubs with a shower or shower enclosures and are usually made out of vinyl, cloth or plastic. ...
A rather unusual acquisition for Textron came in 1956 when it purchased the 18,500 ton troop ship, the SS LaGuardia, refitted it as a cruise ship, and rechristened it the Leilani. The maiden voyage of the new ship was a disaster, however, because of inadequate plumbing and food poisoning. In 1958, Textron abandoned the ship to Maritime Commission. Year 1956 (MCMLVI) was a leap year starting on Sunday (link will display full calendar) of the Gregorian calendar. ...
Pacific Sky sails under Sydney Harbour Bridge A cruise ship or a cruise liner is a passenger ship used for pleasure voyages, where the voyage itself and the ships amenities are considered an essential part of the experience. ...
Leilani was a champion racemare from Australia. ...
A plumber wrench for working on pipes and fittings Plumbing, from the Latin for lead (plumbum), is the skilled trade of working with pipes, tubing and plumbing fixtures for potable water systems and the drainage of waste. ...
Foodborne illness or food poisoning is caused by consuming food contaminated with pathogenic bacteria, toxins, viruses, prions or parasites. ...
Year 1958 (MCMLVIII) was a common year starting on Wednesday (link will display full calendar) of the Gregorian calendar. ...
The US Maritime Commission was created as an independent agency by the Merchant Marine Act of 29 June 1936, to further develop and maintain a merchant marine for the promotion of United States commerce and defense. ...
In 1956, Rupert C. Thompson, Jr., who had been director and chairman of the executive committee and head of Textron’s non-textile operations, was named to succeed Royal Little as president. Little remained chairman of the board and CEO. Year 1956 (MCMLVI) was a leap year starting on Sunday (link will display full calendar) of the Gregorian calendar. ...
Textron continued its acquisition of several small companies in the next few years. In 1960, however, Little purchased Bell Aircraft Company for $32 million in cash. The purchase brought all of Bell’s real estate and three divisions: Bell Helicopter of Fort Worth, Texas (manufacturer of military and commercial helicopters), Bell Aerosystems of Buffalo, New York (designer and producer of rocket engines, inertial guidance systems, space components, automatic landing systems, and avionics devices), and Hydraulic Research and Manufacturing of Burbank, California (producer of electro-hydraulic valves and servo control systems). Combined, this division was known as Bell Aerospace. Categories: Aircraft stubs | Corporation stubs | U.S. aircraft manufacturers ...
Nickname: Motto: Where the West Begins Location in the state of Texas Coordinates: , Country United States State Texas Counties Tarrant and Denton Government - Mayor Michael J. Moncrief Area - City 298. ...
A helicopter is an aircraft which is lifted and propelled by one or more horizontal rotors, each rotor consisting of two or more rotor blades. ...
A remote camera captures a close-up view of a Space Shuttle Main Engine during a test firing at the John C. Stennis Space Center in Hancock County, Mississippi Spacecraft propulsion is used to change the velocity of spacecraft and artificial satellites, or in short, to provide delta-v. ...
Already a well-known name in the aviation industry, Bell became a household name with the success of the Bell 47, affectionately known as the "WHIRLY BIRD" and people came to recognize the helicopter from films like MASH. During the Vietnam War, Bell produced more than 10,000 Hueys. Meanwhile, Bell Aerospace helped power the Gemini spacecraft, and produced the post boost propulsion system for the Minuteman III intercontinental ballistic missile. MASH is a 1970 satirical American dark comedy film directed by Robert Altman and based on the novel M*A*S*H: A Novel About Three Army Doctors by Richard Hooker. ...
Combatants Republic of Vietnam United States Republic of Korea Thailand Australia New Zealand The Philippines National Front for the Liberation of South Vietnam Democratic Republic of Vietnam People’s Republic of China Democratic Peoples Republic of Korea Strength US 1,000,000 South Korea 300,000 Australia 48,000...
Project Gemini was the second human spaceflight program of the United States of America. ...
The LGM-30 Minuteman is a United States nuclear missile, a land-based intercontinental ballistic missile (ICBM) (the other type is the LG-118A Peacekeeper, which is to be phased out by 2005). ...
A Minuteman III ICBM test launch from Vandenberg AFB, California, United States. ...
The End of Little's Tenure Throughout the 1960s and 1970s, Textron branched into a wide variety of industries: photocopy paper, pharmaceuticals, fiberglass boats, men’s dress shoes, crystal, and finally golf cars. Textron purchased E-Z-GO Car Corporation, the oldest golf car manufacturer in the business, in part because of Little’s devotion to the game. The 1960s decade refers to the years from January 1, 1960 to December 31, 1969, inclusive. ...
The 1970s decade refers to the years from 1970 to 1979, also called The Seventies. ...
Pharmacology (in Greek: pharmacon is drug, and logos is science) is the study of how chemical substances interfere with living systems. ...
Quartz crystal Synthetic bismuth hopper crystal Insulin crystals Gallium, a metal that easily forms large single crystals A huge monocrystal of potassium dihydrogen phosphate grown from solution by Saint-Gobain for the megajoule laser of CEA. In chemistry and mineralogy, a crystal is a solid in which the constituent atoms...
In 1961, Royal Little retired, severing his official ties to Textron. Little remained active in the business world, setting up a small investment company called Narragansett Capital, and writing articles for Fortune. Little died in 1989. Year 1961 (MCMLXI) was a common year starting on Sunday (link will display full calendar) of the Gregorian calendar. ...
Fortune magazine is Americas second longest-running business magazine after Forbes magazine. ...
Year 1989 (MCMLXXXIX) was a common year starting on Sunday (link displays 1989 Gregorian calendar). ...
Leadership Under Thompson Textron’s 1960 annual report described “new patterns for growth” for the company. To this end, Thompson divided all of Textron’s holdings into specific divisions: Automotive, Consumer, Defense, Industrial, and Textile. Over time, these divisions were rearranged as the Automotive Group took the name Industrial, and the Industrial Group became the Metal Product Group. The Textile Group soon disappeared entirely, and Defense became Aerospace. In the 1970s, the first non-manufacturing group was added: the Creative Capital Group. In 1963, Textron sold its last textile group. Year 1960 (MCMLX) was a leap year starting on Friday (link will display full calendar) of the Gregorian calendar. ...
An annual report is a document which a company presents at its Annual General Meeting for approval by its shareholders. ...
Year 1963 (MCMLXIII) was a common year starting on Tuesday (link will display full calendar) of the Gregorian calendar. ...
A further significant change came in the 1960s with the addition of the Employee Stock Savings Plan. Now employees could contribute up to 10% of their base salary to the Savings Plan, and Textron would contribute an amount equal to one-half of these payments. By 1978, employee-owned stock represented 17% of Textron’s Common stock.
Bill Miller Following Little’s example, Thompson retired at age 63 and turned leadership of the company over to company president Bill Miller. Acquisitions under Miller included snowmobile maker Polaris, Australian card maker Valentine Holdings, and the venture capital firm American Research & Development. Polaris (α UMi / α Ursae Minoris / Alpha Ursae Minoris), more commonly known as The North Star or simply North Star, is the brightest star in the constellation Ursa Minor. ...
Miller's tenure at Textron ended in 1977, when President Jimmy Carter nominated him to be Chairman of the Federal Reserve. He later served as Secretary of the Treasury for President Carter. Joseph Collinson succeeded Miller as Textron's chairman and CEO. Also: 1977 (album) by Ash. ...
James Earl Jimmy Carter, Jr. ...
The Federal Reserve System is headquartered in the Eccles Building on Constitution Avenue in Washington, DC. The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central banking system of the United States. ...
The United States Secretary of the Treasury is the finance minister of the Federal Government of the United States. ...
From the 1960s through the 1980s, Textron's management philosophy remained relatively constant. The corporate office, for the most part, maintained oversight of operational issues. During this time business units operated autonomously and corporate staff was small. Oversight by the corporate center was handled by a rotating group of corporate officers called Group Vice Presidents. In 1979, Collinson retired, and he was succeeded by Robert P. Straetz as chairman and CEO. Beverly F. Dolan, founder and former president of E-Z-GO, was president. By the end of 1979, revenues had risen to $3.3 billion. The 1960s decade refers to the years from January 1, 1960 to December 31, 1969, inclusive. ...
This article does not cite any references or sources. ...
Also: 1979 by Smashing Pumpkins. ...
Also: 1979 by Smashing Pumpkins. ...
The Avco Acquisition Textron acquired Avco Corporation of Connecticut, a conglomerate of almost equal size with pre-acquisition revenue of $2.9 billion in December 1985. Created by the Embry-Riddle Company as a holding company to acquire airlines, Avco held interests in more than 90 companies, including American Airways, predecessor of American Airlines. Avco Corporation is a subsidiary of Textron which operates Textron Systems Corporation and Lycoming. ...
Official language(s) English Capital Hartford Largest city Bridgeport Largest metro area Hartford Area Ranked 48th - Total 5,543[2] sq mi (14,356 km²) - Width 70 miles (113 km) - Length 110 miles (177 km) - % water 12. ...
Conglomerate is the term used to describe a large company which consists of divisions of often seemingly unrelated businesses. ...
Embry-Riddle Aeronautical University (ERAU) is a not-for-profit, non-sectarian, coeducational private university with a history dating back to the early days of aviation. ...
An airline is an organization providing aviation services to passengers and/or cargo. ...
American Airlines (AA) is the largest airline in the world in terms of total passengers-miles transported[1] and fleet size [2], and the second-largest airline in the world (behind Air France-KLM) in terms of total operating revenues[3]. A wholly owned subsidiary of the AMR Corporation, the...
Four years later, Dolan recruited James F. Hardymon as Textron's new president after a 28-year career at Emerson Electric, where he had most recently served as president and chief operating officer. One of Hardymon’s first moves was the acquisition of the Cessna Aircraft Company, a leader in light and medium-sized commercial business jets. Emerson Electric Company is a global company based in the United States which ranked 144 on the Fortune 500. ...
Cessna Aircraft Company, located in Wichita, Kansas, is a manufacturer of general aviation aircraft, from small two-seat, single-engine airplanes to business jets. ...
Business jet (slang, Bizjet) is a term for a jet aircraft, usually of modest size, designed for transporting small groups of business people for commercial reasons at a time convenient to their business needs. ...
Now Hardymon needed to increase corporate oversight of operations. He brought in Lewis B. Campbell, an executive from General Motors, as executive vice president and chief operating officer in 1992. In 1994, Campbell was elected president. General Motors Corporation, also known as GM, is the worlds largest auto company by annual production volume as of 2006, and the second largest by sales volume as of the first half of 2007, behind Toyota Motor Corporation. ...
Year 1992 (MCMXCII) was a leap year starting on Wednesday (link will display full 1992 Gregorian calendar). ...
Year 1994 (MCMXCIV) was a common year starting on Saturday (link will display full 1994 Gregorian calendar). ...
From 1989 through 1997, Hardymon continued his goal to maintain consistent growth for the company, decreasing military contracts, insurance, and consumer products, and divesting “non-core” businesses. Meanwhile, he strengthened the Aircraft, Automotive, Industrial, and Finance divisions. Year 1989 (MCMLXXXIX) was a common year starting on Sunday (link displays 1989 Gregorian calendar). ...
Year 1997 (MCMXCVII) was a common year starting on Wednesday (link will display full 1997 Gregorian calendar). ...
Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. ...
In finance and economics, divestment or divestiture is the reduction of some kind of asset for either financial goals. ...
Campbell’s Transformation of Textron In 1998, Campbell was appointed chief executive officer. Campbell shared Hardymon’s view of the “core business” model, and divested Avco Financial Services. With this complete, Campbell began development of a new strategic framework for Textron aimed at creating new operational efficiencies and sharing best practices across the whole organization. Year 1998 (MCMXCVIII) was a common year starting on Thursday (link will display full 1998 Gregorian calendar). ...
Beginning in 2000, Campbell engineered a transformation of the company that included a company-wide restructuring program to increase efficiency of operations; the consolidation of several manufacturing facilities; outsourcing of non-core production; and careful attention to product development across the company to determine whether each was appropriate for the portfolio; divestiture of non-core units. This set Textron down a new path, focusing on operational excellence and management of strong portfolio brands. Look up portfolio in Wiktionary, the free dictionary. ...
The application of Six Sigma principles, not only to Textron’s manufacturing operations, but also to the company’s transactional processes and other enterprise-wide functions, provided a consistent approach to operational efficiency. The often-used six sigma symbol. ...
In the midst of some of the company’s most difficult changes, shareholders watched Textron’s stock price fall to a disappointing $26 in March of 2003, then climb back to an all-time high in the first half of 2006 as the benefits of the transformation finally took hold. Year 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ...
Year 2006 (MMVI) was a common year starting on Sunday (link displays full 2006 calendar) of the Gregorian calendar. ...
Under the new model, Textron today functions as what it calls a “networked enterprise.” Departing from the old model of a holding company that simply acquires businesses and leaves their operations unchanged, the networked enterprise provides key points of contact to facilitate the operation of strong, unique brands. This means that while Bell Helicopter and E-Z-GO serve very different markets with distinct brands and customer bases, they share many of the same business infrastructure resources such as information technology infrastructure and employee benefits. Information and communication technology spending in 2005 Information technology (IT), as defined by the Information Technology Association of America (ITAA), is the study, design, development, implementation, support or management of computer-based information systems, particularly software applications and computer hardware. ...
Employee benefits (also called fringe benefits, perquisites, or perks) are various non-wage compensations provided to employees in addition to their normal wages or salaries. ...
Product Milestones Textron has seen the achievement of some major milestones in the last few years: the company is part of the team that will build the next generation of the US presidential helicopter, US101. Textron Systems has received a US government award to build the first 100 kW solid-state laser. Jacobsen turf maintenance equipment is maintaining many of the stadiums hosting the 2006 World Cup in Germany. The V-22 Osprey, a revolutionary tiltrotor aircraft, received approval for full-scale production from the U.S. Department of Defense in 2005. Cessna Aircraft Company in 2006 announced a feasibility study for a new low-cost, light sport aircraft, an emerging category in the aviation industry. A milestone A milestone is one of a series of numbered markers placed along a road at regular intervals, typically at the side of the road or in a median. ...
The AgustaWestland EH101 is a medium-lift helicopter originally developed as a joint venture between Westland Helicopters in the UK and Agusta in Italy for military applications but also marketed for civil use. ...
Experiment with a laser (US Military) In physics, a laser is a device that emits light through a specific mechanism for which the term laser is an acronym: Light Amplification by Stimulated Emission of Radiation. ...
Jacobsen may refer to: Arne Jacobsen (1902-1971), Danish Jewish architect and designer Gay Jacobsen DAsaro, American foil fencer Jens Peter Jacobsen (1847-1885), Danish novelist, poet, and scientist Lars Jacobsen, Danish footballer Jacobsen may also refer to: Jacobsen syndrome, first identified by Danish physician Petra Jacobsen Jacobsen, a...
A lawn is an area of recreational or amenity land planted with grass, and sometimes clover and other plants, which are maintained at a low, even height. ...
This article needs additional references or sources for verification. ...
The V-22 Osprey is a joint service, multimission, military tiltrotor aircraft with both a vertical takeoff and landing (VTOL) and short takeoff and landing capability (STOL). ...
This article or section does not cite its references or sources. ...
The United States Department of Defense, abbreviated DoD or DOD and sometimes called the Defense Department, is a civilian Cabinet organization of the United States government. ...
Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ...
External links - Golf Car Link to topic for similar vehicle types
Custom Golf Cars A golf cart, (per ANSI z130. ...
References - Textron Inc. (2005) Annual Report 2005 Retrieved July 20, 2006
- Robert S. Eisenhauer Textron...From the Beginning
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