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:
“As an example of just how useless these philosophers are for any practice in life there is Socrates himself, the one and only wise man, according to the Delphic Oracle. Whenever he tried to do anything in public he had to break off amid general laughter. While he was philosophizing about clouds and ideas, measuring a flea’s foot and marveling at a midge’s humming, he learned nothing about the affairs of ordinary life.”
—Desiderius Erasmus (c. 1466–1536)
“Now, honestly: if a large group of ... demonstrators blocked the entrances to St. Patrick’s Cathedral every Sunday for years, making it impossible for worshipers to get inside the church without someone escorting them through screaming crowds, wouldn’t some judge rule that those protesters could keep protesting, but behind police lines and out of the doorways?”
—Anna Quindlen (b. 1953)