Mack Trucks Inc.
1/22/24 (in): $84
5/26/32 (out): $12.25
Performance: -71%
DJIA Performance: -49%
Mack was incorporated in 1916 under the name International Motor Truck Corp., and adopted its more familiar sobriquet in 1922. The company merged with Signal Oil & Gas Co. in 1967; it was spun off in 1983, with French car maker Renault SA increasing its stake in the company to 40%. In 1990, Mack became a wholly owned subsidiary of Renault.
Sears, Roebuck & Co.
1/22/24 (in): $91.50
5/24/96: $49.75
Performance: 434,552%
DJIA Performance: 5,827%
Founded in 1886 as R.W. Sears Watch Co. by Richard W. Sears&Alvah Roebuck was made a partner several years later, but left due to ill health in 1895. Sears, Roebuck & Co. was strictly a catalog merchant until 1925, when it opened its first retail store. The new strategy worked: During one 12-month stretch in the late '20s, Sears opened a store every other business day. In 1931, Sears formed Allstate Insurance Co.; the company made further strides in the financial world in 1981, buying Coldwell, Banker & Co., a real-estate firm, and Dean Witter Reynolds Inc., a brokerage firm. In 1993, when Sears closed its catalog operations, it began to divest its nonretail operations, offering chunks of Dean Witter--renamed Dean Witter, Discover & Co. and Allstate Corp. in public offerings. (The sale of the 20% stake in Allstate was the largest IPO in U.S. history at that time.) Today, the Hoffman Estates, Ill., company operates department, furniture, hardware and automotive stores, plus franchised stores that sell a variety of Sears lines.
Standard Oil Co. Of California
2/6/24 (in): $67.625
8/31/25 (out): $53.25
Performance: -21%
DJIA Performance: -4%
7/18/30 (in): $59.75
5/24/96: $61.125
Performance: 5,200%
DJIA Performance: 2,098%
This was the Western arm of the Standard Oil "octopus," founded by John D. Rockefeller in 1870. As of 1899, Standard Oil's many operations were controlled under the umbrella of Standard Oil of New Jersey, which the federal government broke up into 33 companies in a 1911 antitrust action. The California operation, now based in San Francisco, changed its name to Chevron Corp. in 1984.
F.W. Woolworth Co.
5/12/24 (in): $332
5/24/96: $21.75
Performance: 1,079%
DJIA Performance: 6,340%
The biggest nickel-and-dime operation of them all was incorporated in 1911 to consolidate the assets of several retailers. In 1963, the company took a major step, buying shoemaker and retailer G.R. Kinney Corp. from Brown Shoe Co. The company, based in New York, dropped its initials and became simply Woolworth Corp. in 1989.
International Harvester Co.
8/31/25 (in): $123.25
5/6/91 (out): $3.50
Performance: 101%
DJIA Performance: 1,984%
This maker of farm equipment was incorporated in 1902, as J.P. Morgan & Co. arranged the merger of McCormick Harvesting Machine Co., Deering Harvester Co. and several smaller manufacturers. The new company controlled 85% of the U.S. farm-equipment market. In 1911, the federal government filed an antitrust suit against the company; the company agreed, years later, to sell several of its subsidiaries. By the mid-1950s, the company had moved into areas as diverse as refrigeration equipment and twine. In 1985, International Harvester sold its agricultural-equipment business to the Case unit of Tenneco Inc., and the following year changed its name to Navistar International Corp. Navistar's principal business is making medium- and heavy-duty trucks and diesel engines. The company is based in Chicago.
Kennecott
Copper Corp.8/31/25 (in): $54.50
12/31/25 (out): $55
Performance: 0.9%
DJIA Performance: 11%
This mining and copper-products company was incorporated in 1915, acquiring the property of Kennecott Mines Co. and Beatson Copper Co., among others. In 1936, the company merged with Utah Copper Co.; in 1981, the company was bought by Standard Oil (Ohio) for $1.77 billion. British Petroleum took control of Standard Oil of Ohio in 1986; in 1989, BP sold its minerals unit--primarily Kennecott--to RTZ Corp., a British mining company.
U.S. Realty & Improvement Co.
8/31/25 (in): $141.75
12/7/25 (out): $165.50
Performance: 17%
DJIA Performance: 9.2%
Incorporated in 1904 as a successor to U.S. Realty & Construction Co., the real-estate firm became Realty-Sheraton Corp. through a 1941 merger. In 1947, under the name Sheraton Corp. of America, the company became the first hotel stock listed on the Big Board. Sheraton in 1968 became a subsidiary of International Telephone & Telegraph Co., now ITT Corp., and currently operates under the name ITT Sheraton Corp.
Allied Chemical & Dye Corp.
12/7/25 (in): $113.50
5/24/96: $57.625
Performance: 1,945%
DJIA Performance: 3,982%
Formed in 1920 as a consolidation of five other companies, the maker of chemicals and other products trimmed its name to Allied Chemical in 1958. The company moved in 1972 from New York to its current headquarters, Morristown, N.J. Allied changed its name again in 1981, to Allied Corp., to reflect its diverse businesses. Two years later, the company acquired Bendix Corp., giving it a significant footing in the aerospace industry. In 1985, Allied merged with Signal Cos., and began divesting businesses, such as Union Texas Petroleum. AlliedSignal Inc. dropped the hyphen in 1993.
Famous Players-Lasky Corp.
12/7/25 (in): $109.875
5/26/32 (out): $1.625
Performance: -95%
DJIA Performance: -65%
Incorporated in 1916, Famous Players-Lasky Corp. was a successor to Famous Players Film Co. and Jesse L. Lasky Feature Play Co. Its business: producing movies and operating theaters in which to show them. Beginning in 1927, the company went through a succession of name changes: first, Paramount Famous Lasky Corp.; then, in 1930, Paramount Publix Corp.; and, in 1935, Paramount Pictures Inc. In 1948, the Supreme Court ordered motion-picture companies to give up control of their theater chains, with which they had maintained tight control over film distribution and ticket pricing. Paramount did so, swapping its "Inc." for "Corp." in 1949. The theater operation became United Paramount Theaters, which in 1953 bought the fledgling ABC television network. The Paramount movie studio, meanwhile, was bought in 1966 by Gulf & Western Industries Inc., the quintessential diverse conglomerate. In the 1980s, new management whittled down G&W's sprawling collection of companies. The restructuring culminated in G&W's changing its name to Paramount Communications Inc. in 1989. But Paramount's re-emergence as an independent company was short-lived. After a grueling bidding war with media mogul Barry Diller, Viacom Inc. acquired Paramount for $10 billion in 1994.
Remington Typewriter Co.
12/31/25 (in): $113
3/16/27 (out): $164.25
Performance: 118%
DJIA Performance: 14%
E. Remington & Sons, founded in 1816, was a firearms maker that would make occasional forays into sewing machines and agricultural equipment. Probably its most famous side venture came in 1873, when Milwaukee inventor Christopher Shoales persuaded the owners to help him develop his version of the typewriter; the resulting keyboard remains the standard today, but E. Remington sold the typewriter operation in 1886. The gunmakers became Remington Arms Co., which plans to move its headquarters to Madison, N.C., this year; the typewriter business became Remington Typewriter Co. After a 1927 merger with Rand Kardex Corp., Remington Typewriter became Remington Rand Inc., and branched into adding machines and other business systems. One of the most famous devices produced by Remington Rand: the Univacs, among the first electronic computers. In 1955, the company merged with Sperry Corp.--which had invented such devices as the automatic pilot--to become Sperry Rand Corp. Sperry dropped the "Rand" in 1979; also that year, Victor Kiam acquired the company's electric-shaver division in one of the first leveraged buyouts. Also around that time, the company sold its typewriter business. In 1986, Sperry was bought by Burroughs Corp. The combined entity, renamed Unisys Corp., is based in Blue Bell, Pa.
United Drug Co.
3/16/27 (in): $165.50
10/2/28 (out): $111.375
Performance: -33%
DJIA Performance: 47%
Incorporated in 1902, this drug maker and distributor was taken over by Drug Inc., a holding company, in 1928. When the holding company was split up in 1933, United Drug Inc. emerged as one of five surviving companies. The company changed its name to Rexall Drug Inc. in 1946, taking the name of its widely known Rexall brand. Rexall became Dart Industries Inc. in 1969, and in 1980 merged with Kraft Inc. to form Dart & Kraft Inc. Dart & Kraft spun off to shareholders most of the company's nonfood businesses and changed its name to Kraft Inc. in 1986. Two years later, Kraft was bought by Philip Morris Cos., which later combined the company with its General Foods division, known as Kraft Foods Inc. today.
Atlantic Refining Co.
10/1/28 (in): $185.25
7/18/30 (out): $37.25
Performance: -20%
DJIA Performance: 0.2%
Incorporated in 1870, Atlantic Refining became one of the world's largest makers of lubricating oils, gasoline and other petroleum products. The company merged with Richfield Oil in 1966 and changed its name to Atlantic Richfield Co. Today's Arco is a product of yet a third merger--with Sinclair Oil Corp. in 1969. In 1977, the company merged Anaconda Copper Mining Co. into one of its subsidiaries. Besides oil and gas, Los Angeles-based Arco currently has interests in Arco Chemical Co. of Newtown Square, Pa.; Denver-based Arco Coal Co.; and Lyondell Petrochemical Co., based in Houston.
Bethlehem Steel Corp.
10/1/28 (in): $64.625
5/24/96: $13
Performance: 141%
DJIA Performance: 2,301%
Formed in 1857 as Saucona Iron Co., the company changed its name to Bethlehem Steel Co. in 1899, and then, upon its 1919 incorporation, to Bethlehem Steel Corp. Over the years, the company has made steel for some of the nation's most notable structures, including the Empire State Building and the Golden Gate Bridge. Today, it's the No. 2 steelmaker in the U.S., but just last year it shut down its basic steelmaking operations in its hometown of Bethlehem, Pa., citing poor market conditions.
Chrysler Corp.
10/1/28 (in): $124.50
6/29/79 (out): $9.125
Performance: -39%
DJIA Performance: 251%
The Big Third was formed in 1920 when Walter P. Chrysler, an executive late of General Motors, took over Maxwell Motor Corp. He changed the company name five years later, and three years after that made an acquisition that vaulted the company into the rarefied ranks of GM and Ford, buying Dodge Brothers Inc. In 1980, Lee Iacocca, whom Chrysler had recruited to become chairman and chief executive officer after he had been fired as president of Ford, took a key step toward rescuing Chrysler from the brink of bankruptcy by persuading the federal government to guarantee more than $1 billion in loans. Mr. Iacocca made himself an American business hero by turning Chrysler around. In 1987, Chrysler acquired American Motors Corp. and its Jeep line, which helped lay the groundwork for Chrysler to become one of the most profitable vehicle makers of the 1990s.
General Railway Signal Corp.
10/1/28 (in): $105.50
7/18/30 (out): $80.25
Performance: -24%
DJIA Performance: 0.2%
General Railway Signal, incorporated in 1904, started out as a maker of railway safety devices. The Stamford, Conn., company, which dropped "Railway" from its name in 1962, has since become more diverse in its product line: It makes a wide range of equipment, from valves and pumps to telecommunications gear. In 1991, General Signal completed a sale of its General Railway Signal operation to Sasib SpA, an Italian maker of railway equipment and industrial machinery.
International Nickel Co.
10/1/28 (in): $125.375
3/12/87 (out): $14.625
Performance: -42%
DJIA Performance: 845%
Incorporated in 1902, this nickel and copper company was acquired by an unrelated corporation, International Nickel of Canada, in 1928. In 1974, the company, according to some historians, became the first "establishment" company to complete a hostile takeover of another, ESB Inc., which was then one of the world's largest battery makers. International Nickel changed its name to Inco Ltd. in 1976 and today produces more than 25% of the world's nickel, as well as copper, precious metals and cobalt.
Nash Motors Co.
10/1/28 (in): $92.875
7/18/30 (out): $39
Performance: -58%
DJIA Performance: 0.2%
5/26/32 (in): $9.25
3/14/39 (out): $8.375
Performance: -9.5%
DJIA Performance: 202%
Incorporated in 1916, the car maker merged with Kelvinator Corp., a maker of household and refrigeration equipment, in 1937, becoming Nash-Kelvinator Corp. The new entity changed its name to American Motors Corp. in 1954 after a merger with Hudson Motor Car Co. In 1968, AMC sold its Kelvinator division to White Consolidated Industries Inc., a maker of industrial machinery. AMC was acquired by Chrysler in 1987.
Postum Inc.
10/1/28 (in): $70.25
10/30/85 (out): $120
Performance: 1,267%
DJIA Performance: 473%
Incorporated in 1922 as Postum Cereal Co., this packaged-foods maker changed its name to Postum Inc. in 1927, and to General Foods Corp. in 1929 after buying the Clarence Birdseye firm of the same name. Its divisions came to include such widely known brands as Jell-O gelatin, Maxwell House coffee and Oscar Mayer hot dogs. The company became a subsidiary of Philip Morris Cos. in 1985, and was combined with Kraft Inc. in 1989 to form Kraft General Foods Inc., now called Kraft Foods Inc.
Radio Corp. of America
10/1/28 (in): $210
5/26/32 (out): $2.75
Performance: -93%
DJIA Performance: -79%
RCA was formed in 1919 as a partnership that came to include such industrial giants as GE, Westinghouse, AT&T and United Fruit (which relied on radio to contact its far-flung field operations). The partners took over Guglielmo Marconi's U.S. radio operations and agreed to share important patents for the new wireless technology. Under pressure from the Justice Department, the corporate sponsors withdrew from RCA in 1933, leaving it an independent company. Over the years, RCA would play a key role in the development of broadcast media: It held the controlling interest in the first true radio network, National Broadcasting Co., and was a pioneer in the development of television technology. In 1986, RCA was bought by one of its old parents: GE.
Standard Oil Co. (New Jersey)
10/1/28 (in): $45.875
5/24/96: $87
Performance: 64,854%
DJIA Performance: 2,301%
As of 1899, the New Jersey arm of Standard Oil was an umbrella for John D. Rockefeller's numerous oil operations. The federal government closed the umbrella in 1911, breaking Standard Oil into 33 different companies. The one that kept the name of Standard Oil of New Jersey was renamed Exxon Corp. in 1972. Today, Exxon is the nation's biggest oil company, and also has interests in refining and marketing chemicals and in the coal, mineral and power-generating businesses. The company is based in Irving, Texas.
Texas Gulf Sulphur
10/1/28 (in): $71.25
5/26/32 (out): $14.875
Performance: -79%
DJIA Performance: -79%
The producer of sulfur was incorporated in 1909. The company was involved in a landmark decision on insider trading in the late '60s: Texas Gulf discovered a rich lode in Canada, and several company officials bought shares before the news was released. After a lawsuit filed by the Securities and Exchange Commission, the stockholders surrendered their profit from the trading. In 1981, the company--which had pared its name to Texasgulf Inc.--was purchased by Societe Nationale Elf Aquitaine of France. Texasgulf was acquired by Potash Corp. of Saskatchewan last year.
Union Carbide & Carbon Corp.
10/1/28 (in): $188.75
5/24/96: $43
Performance: 2,975%
DJIA Performance: 2,301%
Chemical maker Union Carbide & Carbon Corp. was founded in 1917, and trimmed its name to Union Carbide Corp. in 1957. Through the 1970s Carbide grew, registering peak sales of $10.17 billion in 1981 with a range of products--many with esoteric technical labels, but others bearing such common household names as Prestone antifreeze, Glad bags and Eveready batteries. Then, in 1984, disaster struck. A gas leak at Union Carbide's plant in Bhopal, India, killed more than 2,000 people in what quickly was branded the worst industrial accident in history. On the financial front, the tragedy left Union Carbide weakened and vulnerable to a takeover. In 1986, the company fended off a $4 billion hostile bid from GAF Corp.; it was a landmark battle in which Carbide became the first company ever to turn back an all-cash bid for its shares. But, to repay debt it had taken on in the GAF fight, Carbide began selling a number of its businesses, leaving it considerably smaller. Today, Carbide, based in Danbury, Conn., is a world-wide chemical and polymer company with 1995 sales exceeding $5.8 billion.
Victor Talking Machine Co.
10/1/28 (in): $110.875
1/8/29 (out): $150
Performance: 35%
DJIA Performance: 24%
Victor Talking Machine Co. was incorporated in 1901 to make and sell sound-reproduction machines. The company was bought by RCA in 1929.
Wright Aeronautical Corp.
10/1/28 (in): $165
9/14/29 (out): $127
Performance: 208%
DJIA Performance: 53%
This maker of aircraft motors was incorporated in 1919 to acquire a portion of the assets of Wright-Martin Aircraft Corp. In 1929, it merged with Curtiss Aeroplane & Motor Co. and Wright Aeronautical Corp. to form Curtiss-Wright Corp., now based in Lyndhurst, N.J.
National Cash Register Co.
1/8/29 (in): $97.50
5/26/32 (out): $7.625
Performance: -92%
DJIA Performance: -83%
National Cash Register was founded by John H. Patterson in 1884 as a maker of simple machines that helped merchants mechanically record transactions and payments. The company quickly seized on the applicability of its cash registers around the world, opening offices in Germany, France, Spain, Italy, Japan and elsewhere by the turn of the century. It went public in 1925 with an offering of $55 million of shares, at that time the largest public offering in U.S. business history. The company trimmed its name to NCR Corp. in 1974. By this time, NCR had vastly expanded, branching into such businesses as electronic data processing and, later, banking systems, computer equipment and services. NCR was acquired by AT&T in 1991, a financially disastrous combination. It will be spun off from AT&T later this year.
Curtiss-Wright Corp.
9/14/29 (in): $24.50
7/18/30 (out): $7.50
Performance: -69%
DJIA Performance: -34%
Curtiss-Wright was incorporated in 1929 as a consolidation of several aviation-related businesses. By 1941, Curtiss-Wright had $1 billion in orders, making it, according to some sources, the largest aircraft maker in the U.S. World War II was the company's production zenith: By 1945, Curtiss-Wright was second only to General Motors in producing goods for the nation's war effort. But peace humbled Curtiss-Wright. It had no new products to introduce to the postwar world, and its enormous plant capacity sat idle. The company's share of total U.S. aviation sales plunged to 10% in 1947 from 50% in 1934. Today, the company, based in Lyndhurst, N.J., makes flight systems and other aerospace components, as well as electronic control valves for a variety of uses.
Johns-Manville Corp.
1/29/30 (in): $136.125
8/30/82 (out): $4.625
Performance: -59%
DJIA Performance: 241%
This maker of asbestos, building materials and assorted insulation products was incorporated in 1926 as a reorganization of another company of the same name. In 1981, Johns-Manville became simply Manville Corp. The company struggled through bankruptcy-law proceedings for much of the decade, trying to resolve thousands of claims from victims of asbestos-related illnesses. The solution was a trust for handling victims' claims, which today owns 80% of the company's shares. After emerging from bankruptcy in the late 1980s, Manville became a holding company in 1990, with mineral, mining, forest-product and building-product operations. Last year, Manville completed the spinoff of its mining unit, and in March it sold its forest-product unit. Now simply a building-product maker with about $1.4 billion in annual revenue, Manville recently changed its name to Schuller Corp.
Borden Co.
7/18/30 (in): $80.375
11/20/35 (out): $26.25
Performance: -66%
DJIA Performance: -39%
Gail Borden Jr. & Co. was founded in 1857 by the inventor of the same name, who had patented a method for condensing milk the year before. Without refrigeration or speedy, reliable distribution, condensing was the only way to deliver milk to far-flung locations. In 1858, the company name was changed to New York Condensed Milk Co., but moved beyond its name in 1875, when it began selling milk in liquid form. New York Condensed Milk was also the first company to sell milk in bottles, beginning in 1885. The company reorganized in the late 1890s as Borden Condensed Milk Co., and the name was changed again in 1919, shortened simply to Borden Co. In 1928, the company diversified into a wide range of dairy products, with adhesives following soon after; over the decades, the company moved into a broad range of consumer products. Kohlberg Kravis Roberts & Co. completed an acquisition of Borden last year and took the Columbus, Ohio, company private.
Eastman Kodak Co.
7/18/30 (in): $215
5/24/96 : $75.875
Performance: 6,565%
DJIA Performance: 2,296%
This photography and imaging company was incorporated in 1901, several years after its founder, George Eastman, had popularized the camera. (Reportedly, he chose the name Kodak because it wasn't easily mispronounced and "K" was the first letter of his mother's maiden name.) Today, Kodak, based in Rochester, N.Y., is led by another George--George Fisher--who is pushing the company beyond photography into the world of digital electronics, which includes products such as "filmless" cameras.
Goodyear Tire & Rubber Co.
7/18/30 (in): $68
5/24/96 : $51.50
Performance: 4,353%
DJIA Performance: 2,296%
The maker of rubber products was formed in 1898. In 1925, Goodyear made the Pilgrim, its first blimp with helium, and in 1961, Goodyear blimps moved to their most recognizable role: providing a bird's-eye view of sporting events for television broadcasts. Today, the Akron, Ohio, company's three blimps fly above about 100 events a year. The largest U.S. tire maker, Goodyear also makes and sells vehicle parts, as well as industrial rubber products and rubber-related chemicals.
Liggett & Myers Tobacco Co.
7/18/30 (in): $94.75
5/26/32 (out): $36
Performance: -62%
DJIA Performance: -79%
Formed in 1873, as a partnership between John Edmond Liggett and George S. Myers, Liggett & Myers Tobacco was snapped up by American Tobacco Co. in 1899. When the U.S. government broke up American Tobacco in 1911, Liggett & Myers was reborn. Among the brands that gave the company prominence were Chesterfield and Lark cigarettes. In the late 1960s, the company also moved into dog food, and the importing and selling of alcoholic beverages. In 1968, the company changed its "Co." to "Inc."; in 1976, it restructured, and the parent company was renamed Liggett Group Inc. Britain's Grand Metropolitan PLC bought Liggett in 1980, and changed the company's name to GrandMet USA. Soon after, the tobacco operations were renamed Liggett Group Inc. These operations were bought in 1986 by Bennett S. LeBow, who consolidated them under his Brooke Group Ltd. umbrella.
Hudson Motor Car Co.
7/18/30 (in): $36
5/26/32 (out): $3
Performance: -92%
DJIA Performance: -79%
Incorporated in 1909, Hudson Motor Car Co. built mechanical equipment in addition to automobiles. In 1954, Hudson merged with Nash-Kelvinator Corp., and the resulting company became American Motors Corp. AMC was acquired by Chrysler in 1987.
United Aircraft & Transport
United Air Transport:
7/18/30 (in): $59.25
5/26/32 (out): $7.625
Performance: -87%
DJIA Performance: -79%
United Aircraft:
8/15/33 (in): $35.25
8/13/34 (out): $16.625
Performance: -53%
DJIA Performance: 70%
3/14/39 (in): $37.75
5/26/96 : $110.375
Performance: 4,379%
DJIA Performance: 3,714%
Some early denizens of the Dow have given birth to modern corporate powerhouses; United Aircraft & Transport has the unique distinction of being the proud parent of three. UAT, founded in 1929, became a partnership between several aviation companies, including Boeing Airplane & Transport Corp. and Pratt & Whitney. The partnership was an umbrella for two publicly traded companies: United Aircraft Corp., which made planes, and United Air Transport Corp., which flew them. In 1934, Congress decided that builders and airlines should be separate entities. UAT was broken up, with the survivors continuing on as United Air Lines Transport Corp., Boeing Airplane Co. and United Aircraft Corp. United Air Lines, of course, went on to become a major carrier; Boeing let "Airplane" fly away from its name in 1961, and was added to the Dow 26 years later. And the third? United Aircraft is in the Dow today under the name it adopted in 1975: United Technologies Corp. Today, the company makes everything from helicopters to elevators.
Drug Inc.
5/26/32 (in): $30.125
8/15/33 (out): $47.75
Performance: 59%
DJIA Performance: 93%
The drug holding company with about as straightforward a name as a drug company can have was incorporated in 1928. In 1933, it was split into five companies: Sterling Products Inc., whose North American operations are now part of Bayer AG of Germany; United Drug Inc., which changed its name to Rexall Drug Inc. and is now part of Philip Morris Cos.; Bristol-Myers Inc., which merged with Squibb Corp. in 1989 to become Bristol-Myers Squibb Co.; Vick Chemical Inc.,now a unit of Procter & Gamble Co. known as Richardon-Vicks; and Life Savers Corp., whose namesake product line is now owned by RJR Nabisco Holdings Corp.
International Business Machines Corp.
5/26/32 (in): $71.75
3/14/39 (out): $187.25
Performance: 204%
DJIA Performance: 202%
6/29/79 (in): $68.50
5/24/96: $108.625
Performance: 59%
DJIA Performance: 584%
Big Blue was incorporated in 1911 under the rather inelegant name Computing-Tabulating-Recording Co. In 1914, Thomas Watson was hired to manage the company, a purveyor of scales, adding machines and other business equipment. CTR became IBM in 1924, and Mr. Watson bestowed upon it its famous motto, "Think." IBM grew to dominate the market for mechanical tabulating machines, prompting a government antitrust decree in the 1950s. About the same time, IBM made a belated entry into electronic computers. It went on to dominate that market as well, leading to another antitrust investigation. But the government dropped its long-running attempt to break up IBM in 1982. Since then, IBM has seen its once-invincible position challenged by the rise of personal computers, a market it largely created before losing control of it. The Armonk, N.Y., company had a brush with financial disaster in the early 1990s when its lucrative mainframe computer franchise collapsed. Since then, under new management, IBM has laid off tens of thousands of workers, refocused its products and returned to profitability, though it hasn't regained its former dominance.
Loews Corp.
5/26/32 (in): $17.50
7/3/56 (out): $21.375
Performance: 22%
DJIA Performance: 892%
Loews began life in the early '20s as a string of movie houses. Starved for films, the company in 1924 acquired and consolidated three film studios: Metro Pictures, Goldwyn Pictures Corp. and Louis B. Mayer Productions. The two parts of Loews worked in conjunction for decades, Metro-Goldwyn-Mayer making the films, Loews theaters screening them. In the late 1940s, however, the federal government threatened Loews with antitrust action; that led to the separation of MGM. Brothers Preston and Laurence Tisch bought a controlling interest in Loews in 1959, and took the company into diverse fields. Loews acquired cigarette maker Lorillard in 1971, and afterward moved into insurance, watchmaking and offshore drilling. The company sold its theater operations in 1985 and moved into the small-screen business the following year, buying a stake in CBS. Westinghouse bought the network last year.
International Shoe Co.
5/26/32 (in): $36.50
8/15/33 (out): $47.25
Performance: 29%
DJIA Performance: 93%
International Shoe, incorporated in 1921, adopted the name Interco in 1966. In 1991, Interco filed for relief under the federal bankruptcy code; it emerged a year later. By last year, Interco had spun off several shoe subsidiaries and become a major maker of residential furniture. Earlier this year, the St. Louis company changed its name to Furniture Brands International Inc.
Coca-Cola Co.
5/26/32 (in): $92.25
11/20/35 (out): $296.50
Performance: 1,186%
DJIA Performance: 193%
3/12/87 (in): $12.03
5/24/96: $47.625
Performance: 3,067%
DJIA Performance: 154%
Atlanta pharmacist John Pemberton first brewed Coca-Cola in 1886, hawking it as a tonic for a plethora of illnesses. In 1891, pharmacist Asa Candler bought the company for $2,000 and promoted the flagship beverage as a soft drink. The company, based in Atlanta, was incorporated in 1891. Coke's huge take-home business was launched in 1894 when a retailer in Vicksburg, Miss., decided to start selling the beverage in bottles. In 1919, the company was acquired by Atlanta banker Ernest Woodruff, along with an investment group, for $25 million. His son, Robert Winship Woodruff, was soon appointed president, beginning more than six decades of successful leadership that built the company into a marketing giant. In 1985, Coca-Cola made a huge marketing blunder by changing its famous |
