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:
“In our own presence, we all pretend to be simpler than we are: thus we take a break from our fellow human beings.”
—Friedrich Nietzsche (1844–1900)
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—Sarvepalli, Sir Radhakrishnan (1888–1975)