Break Up of Boeing Group
In 1934, the United States government accused William Boeing of monopolistic practices. The same year, the Air Mail Act forced airplane companies to separate flight operations from development and manufacturing. William Boeing divested himself of ownership as his holding company, United Aircraft and Transport Corporation, broke into three separate entities:
- United Aircraft Corporation, holding the former eastern US manufacturing (now United Technologies Corporation)
- Boeing Airplane Company, with western US manufacturing, which later became The Boeing Company
- United Air Lines for flight operations
He began investing most of his time into his horses in 1937. Boeing Airplane Company, though a major manufacturer in a fragmented industry, did not really take off until the beginning of World War II.
Read more about this topic: William Boeing
Famous quotes containing the words break and/or group:
“Ye banks and braes o’ bonnie Doon,
How can ye bloom sae fresh and fair?
How can ye chant, ye little birds,
And I sae weary fu’ o’ care?
Thou’lt break my heart, thou warbling bird,
That wantons thro’ the flowering thorn:
Thou minds me o’ departed joys,
Departed never to return.”
—Robert Burns (1759–1796)
“It is not God that is worshipped but the group or authority that claims to speak in His name. Sin becomes disobedience to authority not violation of integrity.”
—Sarvepalli, Sir Radhakrishnan (1888–1975)