Management: Slow-Motion Dream

During a 50-year career, Inventor-Industrialist Sherman Fairchild, 68, has tinkered successfully with everything from aerial cameras to semiconductors.

But Fairchild's great dream is to assemble an Eastern aerospace company that would rival the West Coast's Lock heed, Boeing or North American. Toward that end Fairchild and his Fairchild Stratos Corp. have been buying into Long Island's Republic Aviation Corp., have acquired a controlling 21% of Republic's stock. Last week Fairchild's interest caused an upheaval at Republic. Faced by Fairchild's plans for changes at Republic, Mundy I. Peale, 58, Republic's president for 17...

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