Royal Little
Encyclopedia
Royal Little was the founder and chair of Textron
, and is considered to be the Father of Conglomerates
.
Little graduated from Noble & Greenough School in 1915 and from Harvard University
in 1919, despite having been on academic probation. He soon began working for various textile firms, before founding Special Yarns Corporation in 1923 on $10,000 in borrowed money, whose name he changed to Textron in 1944. Little spent much of his time acquiring other textile firms, and was successful in his efforts. By 1947, the company reported sales of $125 million.
By the 1950s, realizing that the textile industry was not consistently viable, Little began to acquire firms in other industries, beginning the modern conglomerate. Throughout the decade, Textron acquired assets in pneumatic tools, antennas, plastics, plywood
, aluminum, helicopters, chain saw
s, and leather, among others.
Little retired in 1960, at which time Textron was one of the top 100 companies in the country. Other corporations, in following Textron's model, attempted to diversify their holdings in industry. In his retirement, he wrote How to Lose $100,000,000 and Other Valuable Advice in 1979.
Little died at his home in the Bahamas in 1989. At his request, there was no funeral.
Textron
Textron is a conglomerate that includes Bell Helicopter, E-Z-GO, Cessna Aircraft Company, and Greenlee, among others. It was founded by Royal Little in 1923 as the Special Yarns Company, and is headquartered at the Textron Tower in Providence, Rhode Island, United States.With total revenues of...
, and is considered to be the Father of Conglomerates
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
.
Little graduated from Noble & Greenough School in 1915 and from Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
in 1919, despite having been on academic probation. He soon began working for various textile firms, before founding Special Yarns Corporation in 1923 on $10,000 in borrowed money, whose name he changed to Textron in 1944. Little spent much of his time acquiring other textile firms, and was successful in his efforts. By 1947, the company reported sales of $125 million.
By the 1950s, realizing that the textile industry was not consistently viable, Little began to acquire firms in other industries, beginning the modern conglomerate. Throughout the decade, Textron acquired assets in pneumatic tools, antennas, plastics, plywood
Plywood
Plywood is a type of manufactured timber made from thin sheets of wood veneer. It is one of the most widely used wood products. It is flexible, inexpensive, workable, re-usable, and can usually be locally manufactured...
, aluminum, helicopters, chain saw
Chainsaw
A chainsaw is a portable mechanical saw, powered by electricity, compressed air, hydraulic power, or most commonly a two-stroke engine...
s, and leather, among others.
Little retired in 1960, at which time Textron was one of the top 100 companies in the country. Other corporations, in following Textron's model, attempted to diversify their holdings in industry. In his retirement, he wrote How to Lose $100,000,000 and Other Valuable Advice in 1979.
Little died at his home in the Bahamas in 1989. At his request, there was no funeral.