Business & Finance: Money in the Air

In 1926 a young Harvard Business School graduate named Charles Walton ("Chuck") Deeds who was fiddling around with marine engines in Hamilton, Ohio, found himself with $40 to invest. Long interested in aviation, he decided to buy 200 shares of Pratt & Whitney Aircraft Co. Year before that company had been launched by his father, Col. Edward Andrew Deeds of National Cash Register, and two dissatisfied Wright Aeronautical Corp. executives— Frederick Brant Rentschler and George Jackson Mead. Pratt & Whitney Aircraft had one small shop at Hartford, Conn, and $1,000,000 worth of debts....

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