If you ever worked in Dallas you'll remember this man ... ... ... ...
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Dallas tycoon Ling dies
Posted on Sat., Dec. 18, 2004
Associated Press
DALLAS - James J. Ling, a Dallas tycoon who was a pioneer of the modern-day conglomerate, has died. He was 81.
Ling, who died Friday of esophageal cancer, was the L in LTV Corp., a now-defunct business that became Fortune magazine's 14th-largest industrial company with $3.8 billion in revenues.
"He invented the idea of buying a company, restructuring the finances, selling off certain assets and having leftovers that were more valuable than what you started with," said Dallas billionaire Harold Simmons, both a Ling ally and antagonist over the years.
Ling's conglomerate-building career at LTV ended in the 1970s after his foray into the steel industry proved catastrophic. When financial problems mounted he was booted out of the corporation.
But he stayed active until recently in business, running a Dallas energy company and other enterprises.
"This guy had the biggest heart of anyone I've ever known, and he took no credit for it. He was a soft touch," his son, James T. Ling, told The Dallas Morning News for its Saturday editions.
E-Systems Inc., Braniff Airlines, Wilson Sporting Goods, resorts in Acapulco and Steamboat Springs, Colo., and National Car Rental were all once part of LTV - America's first billion-dollar conglomerate.
A rosary will be said Tuesday with visitation following at Restland Memorial Chapel. Funeral Mass will be held Wednesday at Christ the King Catholic Church.
Ling was preceded in death by his wife in 1991. He is survived by daughter Tess Fry of Hillsboro and sons James T. Ling of Parker, Robert Ling of Houston and Richard Ling of Lake Dallas. |
