Corporations: Under the Umbrella

When financially grounded Douglas Aircraft Co. chose St. Louis' soaring McDonnell Co. over half a dozen other would-be saviors (TIME, Jan. 20), one big question remained in the guessing game that had fascinated the industry for weeks: What would happen to Founder-Chairman Donald W. Douglas Sr., 74, and his son, President Donald Jr., 49, who had been widely blamed for the company's perils in the midst of prosperity? An answer of sorts came last week, when McDonnell brass flew to Santa Monica, Calif., to agree on terms for the merger.

Meeting in Douglas...

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