Corporations: The Colonel's Second Battle

Few episodes in his half-century as an industrialist and financier have made Chicago's Henry Crown prouder than the work he did a decade ago at General Dynamics Corp. As executive committee chairman he helped manage the company's recovery from a $435 million loss on its Convair jetliners; it was the largest financial setback on a single product line ever sustained by a U.S. corporation. Crown felt deeply wounded when the company's directors in 1965 and 1966 called in General Dynamics' preference stock, forcing him and his family to sell a $100 million...

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