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 New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE) , also nicknamed the Big Board, is the largest stock exchange in the world in dollar volume and second largest by number of companies listed. ... Categories: Aircraft stubs | Corporation stubs | U.S. aircraft manufacturers ... 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
  • Bell Helicopter Textron
  • Textron Systems
  • Lycoming Engines
• Cessna
  • Cessna Aircraft Company
• 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 ... 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. ... Jacobsen may refer to: Arne Jacobsen Jens Peter Jacobsen the Jacobsen syndrom This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ...

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. ... Combatants Allied Powers: France Italy Russia Serbia United Kingdom United States Central Powers: Austria-Hungary Bulgaria Germany Ottoman Empire Commanders Ferdinand Foch Georges Clemenceau Victor Emmanuel III Luigi Cadorna Nicholas II Aleksei Brusilov Herbert Henry Asquith Douglas Haig John Jellicoe Woodrow Wilson John Pershing Wilhelm II Paul von Hindenburg Reinhard...

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. Official language(s) None Capital Providence Largest city Providence Area  Ranked 50th  - Total 1,214* sq mi (3,144* km²)  - Width 37 miles (60 km)  - Length 48 miles (77 km)  - % water 32. ... 1928 (MCMXXVIII) was a leap year starting on Sunday (link will take you to 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. 1930 (MCMXXX) was a common year starting on Wednesday (link is to a full 1930 calendar). ... Rayon is a manufactured regenerated cellulosic fiber. ... 1939 (MCMXXXIX) was a common year starting on Sunday (link will take you to 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. ...

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 weaver Silk is a natural protein fibre that 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. ... 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. 1947 (MCMXLVII) was a common year starting on Wednesday (the link is to a full 1947 calendar). ... New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE) , also nicknamed the Big Board, is the largest stock exchange in the world in dollar volume and second largest by number of companies listed. ... A stock symbol or ticker symbol is a shorthand code 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). ... 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. ... In economics, a monopoly (from the Latin word monopolium - 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. ...

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. ... 1955 (MCMLV) was a common year starting on Saturday of the 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 A machine is any mechanical or organic device that transmits or modifies energy to perform or assist in the performance of tasks. ... In engineering, electromechanics combines electromagnetism and mechanics. ... 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. 1956 (MCMLVI) was a leap year starting on Sunday of the Gregorian calendar. ... Pacific Sky sails under Sydney Harbour Bridge A cruise ship 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. ... The plumber wrench for screwing various pipes Plumbing, from the Latin for lead (plumbum), is the skilled trade of working with pipes and tubing for potable water systems and for drainage of waste. ... Foodborne illness or food poisoning is caused by consuming food contaminated with pathogenic bacteria, toxins, viruses, prions or parasites. ... 1958 (MCMLVIII) was a common year starting on Wednesday 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. 1956 (MCMLVI) was a leap year starting on Sunday 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: Cowtown Motto: Where the West Begins Location in the state of Texas Coordinates: Country United States State Texas Counties Tarrant and Denton Mayor Michael J. Moncrief Area    - City 774. ... The Bell 206 of Canadian Helicopters Robinson Helicopter Company (USA) R44, a four seat development of the R22 A helicopter is an aircraft which is lifted and propelled by one or more horizontal rotors. ... 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 Iroquois, or UH-1. Known as the “Huey,” people came to recognize the helicopter from films like M*A*S*H. 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. The Bell UH-1 Iroquois, commonly known as the Huey, was a multipurpose military helicopter, famous for its use in the Vietnam war. ... M*A*S*H may refer to: Mobile army surgical hospital M*A*S*H (novels), the original novel that inspired the movie, plus two sequels, written by Richard Hooker M*A*S*H (film), 1970, directed by Robert Altman (starring Donald Sutherland, Elliott Gould, Sally Kellerman and Robert Duvall... 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... 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 missile after a test launch. ...

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 1960 to 1969, inclusive. ... The 1970s decade refers to the years from 1970 to 1979, inclusive. ... Pharmacology (in Greek: pharmacon is drug, and logos is science) is the study of how chemical substances interfere with living systems. ... Quartz crystal In chemistry and mineralogy, a crystal is a solid in which the constituent atoms, molecules, or ions are packed in a regularly ordered, repeating pattern extending in all three spatial dimensions. ...

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. 1961 (MCMLXI) was a common year starting on Sunday (the link is to a full 1961 calendar). ... Fortune or fortune can refer to: Luck Wealth Fortune magazine The fortune Unix/Linux command, which prints a random quote Fortune (Metal Gear), a character from Metal Gear Solid 2: Sons of Liberty. ... 1989 (MCMLXXXIX) was a common year starting on Sunday of the 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. 1960 (MCMLX) was a leap year starting on Friday (the link is to a full 1960 calendar). ... An annual report is a document which a company presents to its Annual General Meeting for approval by its shareholders. ... 1963 (MCMLXIII) was a common year starting on Tuesday (the link is to a full 1963 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) 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. For the album by Ash, see 1977 (album). ... 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 1960 to 1969, inclusive. ... The examples and perspective in this article or section may not represent a worldwide view. ... This page refers to the year 1979. ... This page refers to the year 1979. ...

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. This article or section does not cite its references or sources. ... Conglomerate is: A large, diversified company with a wide array of businesses; see Conglomerate (company), Holding company. ... An airline is an organization providing aviation services to passengers and/or cargo. ... American Airlines and American Eagle aircraft at San Juan American Airlines is the largest airline in the world in terms of total passengers transported and fleet size, and the second-largest airline in the world (behind Air France-KLM) in terms of total operating revenues. ...

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 automaker. ... 1992 (MCMXCII) was a leap year starting on Wednesday. ... 1994 (MCMXCIV) was a common year starting on Saturday of the Gregorian calendar, and was designated as the International Year of the Family and the International Year of the Sport and the Olympic Ideal by United Nations. ...

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. 1989 (MCMLXXXIX) was a common year starting on Sunday of the Gregorian calendar. ... 1997 (MCMXCVII) was a common year starting on Wednesday of the Gregorian calendar. ... The examples and perspective in this article or section may not represent a worldwide view. ...

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. 1998 (MCMXCVIII) was a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean. ...

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. // Finance Main article portfolio (finance) In finance, a portfolio is a collection of investments held by an institution or a private individual. ...

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. This article or section is not written in the formal tone expected of an encyclopedia article. ...

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. 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... 2006 (MMVI) is a common year starting on Sunday 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 Technology (IT)[1] is a broad subject concerned with the use of technology in managing and processing information, especially in large organizations. ... 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 using a (likely argon) laser. ... Jacobsen may refer to: Arne Jacobsen Jens Peter Jacobsen the Jacobsen syndrom This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... Turf may refer to Sod, the surface layer of ground consisting of a matt of grass and grass roots, sometimes used as a construction material AstroTurf, or any variety of artificial turf made to resemble grass A colloquialism for the world of horse-racing Slang for territory claimed by a... A world cup is a global sporting competition in which the participant entities - usually National Teams or individuals representing their nation - compete for the title of world champion. ... The V-22 Osprey is a joint service, multi-mission military aircraft with vertical take-off and landing (VTOL) capability. ... The Bell-Boeing V-22, an example of a tiltrotor aircraft A tiltrotor aircraft combines the vertical lift capability of a helicopter with the speed of a turboprop aeroplane. ... 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. ... 2005 (MMV) was a common year starting on Saturday 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

1. Textron Inc. (2005) Annual Report 2005 Retrieved July 20, 2006

1. Robert S. Eisenhauer Textron...From the Beginning