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:
“The opening of large tracts by the ice-cutters commonly causes a pond to break up earlier; for the water, agitated by the wind, even in cold weather, wears away the surrounding ice.”
—Henry David Thoreau (1817–1862)
“Unless a group of workers know their work is under surveillance, that they are being rated as fairly as human beings, with the fallibility that goes with human judgment, can rate them, and that at least an attempt is made to measure their worth to an organization in relative terms, they are likely to sink back on length of service as the sole reason for retention and promotion.”
—Mary Barnett Gilson (1877–?)