RARE \"Ling-Temco-Vought\" James Ling Hand Signed TLS Dated 1964 For Sale
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RARE \"Ling-Temco-Vought\" James Ling Hand Signed TLS Dated 1964:
$349.99
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for sale a RARE! "Ling-Temco-Vought" James Ling Hand Signed TLS Dated 1964.
corporations, and was one of the more famous of the 1960s conglomerate managers. As with other
conglomerates such and Textron,
higher interest rates and inflation destroyed LTV
in the 1970s. Ling was the son of a Catholic convert
who later entered a Carmelite monastery. Ling's mother died when he was
young, and he lived for a time with an aunt in Shreveport, Louisiana. He failed to
graduate from a Jesuit high school but became a master electrician after
training at a US Navy school in Mississippi. In
1947 he founded his own Dallas electrical contracting business, Ling Electric
Company, where he lived in the rear of the shop. After incorporating and taking
his company public in 1955, Ling found innovative ways to market his stock,
including door-to-door soliciting and selling from a booth at the State Fair of Texas. In
1956 Ling bought L.M. Electronics, followed by Altec Electronics in
1959 and Temco Aircraft in 1960. In 1961, he
bought Chance Vought
Aircraft, merging his interests into Ling-Temco-Vought.
His empire fell apart after he acquired the money-losing Jones & Laughlin
Steel Company in 1970, and he had to sell subsidiaries to try to stanch the
ensuing financial hemorrhage. After antitrust issues
arose, bankers forced Ling's resignation later in 1970. Ling formed several
companies after his time at LTV, but none were as successful. His first
comeback try, Omega-Alpha, went bankrupt in 1975. Ling died of esophageal
cancer at his Dallas, Texas home.
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