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  • Air Associates, Inc. - Lehman Brothers Collection
    distributor franchises of Lockheed Aircraft Company and Whittelsey Avian Company The company started in early 1927 with nothing more than an empty hangar and did 600 in business during the first month By the end of the first year it was grossing 15 000 per month Air Associates completed an agreement with United Aircraft Exports Inc in 1927 giving United Aircraft exclusive foreign rights to the sale of Air Associate

    Original URL path: http://www.library.hbs.edu/hc/lehman/company.html?company=air_associates_inc (2016-02-18)
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  • Air Products and Chemicals, Inc. - Lehman Brothers Collection
    a second order for a gaseous oxygen generator was received from the Norfolk Navy Yard During World War II Air Products thrived as it manufactured mobile oxygen generators for the armed services and heavy industry At the end of the war many of the military contracts were cancelled and the company refocused its sights on commercial markets by setting up operations near Allentown Pennsylvania close to the industrial markets of the Northeast where they could secure more contracts with steel companies The Cold War and the launching of the Sputnik satellite in 1957 propelled the company s growth when the U S Defense Department contracted with the company to supply it with liquid hydrogen The company entered the overseas market in 1957 through a joint venture with Butterley a British firm to which it licensed its cryogenic processes and equipment Air Products went public in 1959 and reincorporated in 1961 as Air Products Chemicals Through the remaining 1960s Air Products thrived and sales rose 400 percent while earnings grew 500 percent The company acquired Southern Oxygen in 1961 and expanded into the chemical business by merging with Houdry Process Corporation a producer of organic chemicals and catalysts In 1964 Air Products formed a subsidiary in Belgium and shortly thereafter established a subsidiary in West Germany and a joint venture in South Africa The company s position in chemicals further expanded in 1969 with the purchase of Escambia Chemical Corporation in Florida Air Products continued to diversify through the 1970s and 1980s as it built large scale plants particularly in the chemical business in polymer emulsion and polyvinyl alcohol product lines The company embarked on a ten year strategic plan in 1986 adding a third core business in addition to air products and chemicals The company branched into the environmental and

    Original URL path: http://www.library.hbs.edu/hc/lehman/company.html?company=air_products_and_chemicals_inc (2016-02-18)
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  • Aktiebolaget Gotaverken - Lehman Brothers Collection
    early 1960s Gotaverken like many other European shipyards began suffering significant losses after completing the profitable orders booked following the closure of the Suez Canal in 1956 This difficult situation was compounded by an increasingly competitive Japanese shipbuilding industry Gotaverken responded to these changes in the industry by building a new shipyard at Arundel in the mid 1960s with an advanced production system However it had little success In 1966 in a government approved deal Gotaverken was acquired by Brostrom a Swedish shipbuilding group that already owned Eriksberg one of the other four large shipyards located in Sweden In the late 1960s Gotaverken began construction of VLCCs very large container ships and large sums of money were in invested in new production facilities Much money was also invested in labor saving equipment as the Gotaverken and other Swedish shipyards were increasingly confronted by labor shortages These strategies however did not help Gotaverken and in 1971 the company had to be saved from bankruptcy by the Swedish government Shortly afterwards ownership in Gotaverken was transferred by Brostrom to Salen another Swedish shipping group By 1975 Gotaverken and another large Swedish shipyard Eriksberg were embroiled in problems caused by a lack of

    Original URL path: http://www.library.hbs.edu/hc/lehman/company.html?company=aktiebolaget_gotaverken (2016-02-18)
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  • Alco Standard Corp. - Lehman Brothers Collection
    the merger Alco Standard began an ambitious acquisition program that would make it quite diversified in areas of manufacturing mining and distribution Six companies were acquired in 1966 followed by five in 1967 and thirteen more in 1968 By 1969 Alco owned fifty two companies in four different industries chemical electrical metallurgical and distribution This last industry became Alco s largest and most profitable division through acquisitions in 1968 of the Garrett Buchanan Company a large Philadelphia paper merchant Binghamton Paper Company and the Monarch Paper Company This acquisition program increased the reported net income significantly so that Alco could report in 1969 that profits for that year equaled the combined profits for the three prior years and that sales grew to more than 300 million from 35 million in 1965 The company also began trading on the New York Stock Exchange in 1965 Alco continued adding companies in the 1970s and entered the resources field through the creation of a major group with coal mining operations in Pennsylvania In 1970 Alco s distribution business became so large and successful that a separate operating company Unisource was created to coordinate the activities of all its distribution companies The success of Unisource prompted Alco to move into other distribution areas in the 1970s and early 1980s including specialty steel products auto parts liquor and glass containers health supplies and office products By 1981 sales were 422 million and Alco comprised 134 companies By 1983 Alco found that while earnings continued to rise at a rate of at least 10 percent annually profit margins and return on equity were falling These problems were attributed to Alco s significant manufacturing subsidiaries that were not able to expand at the same rate as the other mainly distribution subsidiaries As a result Alco began a

    Original URL path: http://www.library.hbs.edu/hc/lehman/company.html?company=alco_standard_corp (2016-02-18)
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  • Aldens, Inc. - Lehman Brothers Collection
    of the business changed to Chicago Mail Order Company In the mid 1930s Aldens expanded its operations through acquisitions It acquired the goodwill and mailing lists of M W Savage Company of Minneapolis in April 1935 Hamilton Garment of New York in May 1936 and D T Bohon of Kentucky in June 1936 In 1936 Aldens began selling goods to its mail order customers on a monthly payment plan Besides its principal activity as a mail order business Aldens established offices for placing orders and began operating retail stores on an experimental basis In 1938 sales totaled 24 million The company initially specialized in the sale of apparel and accessories for women and men especially fashion merchandise Soon the company added curtains sheets pillowcases tablecloths fabrics and book and toys In 1938 these lines of goods were expanded to include home furnishings and house wares By 1943 Aldens had a main plant with 690 000 square feet of floor space in Chicago The company extended its operations into the retail department store field in 1944 and over the next fifteen years opened sixteen stores primarily in the Midwest After World War II apparel merchandise grew to represent a substantial portion

    Original URL path: http://www.library.hbs.edu/hc/lehman/company.html?company=aldens_inc (2016-02-18)
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  • Alison Mortgage Investment Trust - Lehman Brothers Collection
    It also invested in development and land loans By 1973 the real estate investment portfolio of Alison had grown to 157 million with a large portion of that funded by bonds and bank loans The real estate holdings of the trust were nationwide with Florida and Texas representing nearly half with 78 million in investments Alison was one of many real estate investment trusts REITs that were created in the late 1960s and early 1970s grew quickly and appeared to be quite successful Alison like most other REITs began to experience difficulties in the mid 1970s as interest rates rose and loan defaults and foreclosures began to impact earnings These problems were compounded by an economic recession and by overbuilding in areas of the country where Alison had invested heavily The first public report that Alison was experiencing problems was in January 1975 when Alison posted a fourth quarter loss and deferred its dividend attributing its problems to significant cash flow problems Further bad news followed over the next couple of years as the company continued to report poor earnings Alison like other real estate trusts in the troubled REIT industry attempted to restructure its debt but met strong resistance

    Original URL path: http://www.library.hbs.edu/hc/lehman/company.html?company=alison_mortgage_investment_trust (2016-02-18)
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  • Allen-Babcock Computing, Inc. - Lehman Brothers Collection
    for computer time sharing services Time sharing is the simultaneous use of a single computer system by a number of people at various locations The computer linked by public telephone lines to a teletypewriter terminal operates so fast that it appears to be servicing all users in the same split second Between 1964 and 1970 the company never earned a profit even though sales grew rapidly In 1967 revenues were 570 000 growing to 1 5 million the following year and 3 6 million in 1970 In 1969 Allen Babcock held a 3 percent share of the time sharing services market along with other companies such as Call A Computer Com Share Tym Share and Adams Associates About 60 percent of the market was held by General Electric and IBM Allen Babcock began to experience financial difficulties in 1960 While revenues were rising expenses rose even faster as the company leased more IBM computer systems to support the increased demand and as the company spent money developing new software internally such as their products RUSH to run time sharing operations and SQUARE stock quotations under a RUSH environment To make matters worse the company s principal source of funding City

    Original URL path: http://www.library.hbs.edu/hc/lehman/company.html?company=allen_babcock_computing_inc (2016-02-18)
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  • Allentown Portland Cement Co. - Lehman Brothers Collection
    in 1906 and reincorporated in Pennsylvania on April 23 1919 The company completed its first plant in Evansville Pennsylvania in 1910 In 1956 it had an annual capacity of 2 340 000 barrels of cement In 1953 Allentown Portland acquired Valley Forge Cement Company and a second plant in West Conshohocken was added with an annual capacity in 1956 of 2 160 000 barrels These plants made Portland and mortar

    Original URL path: http://www.library.hbs.edu/hc/lehman/company.html?company=allentown_portland_cement_co (2016-02-18)
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