James Joseph "Jimmy" Ling (December 31, 1922 – December 17, 2004) was an American businessman and former head of

Ling-Temco-Vought Ling-Temco-Vought (LTV) was a large American conglomerate which existed from 1961 to 2001. At its peak, it was involved in aerospace, airlines, electronics, steel manufacturing, sporting goods, meat packing, car rentals, and pharmaceuticals, ...

corporation. While at its helm, Ling used LTV funds to purchase a large number of corporations, and was one of the more famous of the 1960s conglomerate managers.

Biography

Ling was the son of a

Catholic The Catholic Church (), also known as the Roman Catholic Church, is the List of Christian denominations by number of members, largest Christian church, with 1.27 to 1.41 billion baptized Catholics Catholic Church by country, worldwid ...

convert who later entered a

Carmelite The Order of the Brothers of the Blessed Virgin Mary of Mount Carmel (; abbreviated OCarm), known as the Carmelites or sometimes by synecdoche known simply as Carmel, is a mendicant order in the Catholic Church for both men and women. Histo ...

monastery. Ling's mother died when he was young, and he lived for a time with an aunt in

Shreveport, Louisiana Shreveport ( ) is a city in the U.S. state of Louisiana. It is the List of municipalities in Louisiana, third-most populous city in Louisiana after New Orleans and Baton Rouge, Louisiana, Baton Rouge. The bulk of Shreveport is in Caddo Parish, Lo ...

. He failed to graduate from a

Jesuit The Society of Jesus (; abbreviation: S.J. or SJ), also known as the Jesuit Order or the Jesuits ( ; ), is a religious order (Catholic), religious order of clerics regular of pontifical right for men in the Catholic Church headquartered in Rom ...

high school but became a master electrician after training at a

US Navy The United States Navy (USN) is the naval warfare, maritime military branch, service branch of the United States Department of Defense. It is the world's most powerful navy with the largest Displacement (ship), displacement, at 4.5 millio ...

school in

Mississippi Mississippi ( ) is a U.S. state, state in the Southeastern United States, Southeastern and Deep South regions of the United States. It borders Tennessee to the north, Alabama to the east, the Gulf of Mexico to the south, Louisiana to the s ...

. In 1947 he founded his own Dallas electrical contracting business, Ling Electric Company, where he lived in the rear of the shop. After incorporating and taking his company public in 1955, Ling found innovative ways to market his stock, including door-to-door soliciting and selling from a booth at the State Fair of Texas. In 1956 Ling bought L.M. Electronics, followed by Altec Electronics in 1959 and Temco Aircraft in 1960. In 1961, he bought Chance Vought Aircraft, merging his interests into

. His empire fell apart after he acquired the money-losing Jones & Laughlin Steel Company in 1970. He had to sell subsidiaries to try to stanch the ensuing financial hemorrhage. After

antitrust Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust l ...

issues arose, bankers forced Ling's resignation later in 1970. Ling formed several companies after his time at LTV, but none were as successful. His first comeback try, Omega-Alpha, went bankrupt in 1975. Ling died of

esophageal cancer Esophageal cancer (American English) or oesophageal cancer (British English) is cancer arising from the esophagus—the food pipe that runs between the throat and the stomach. Symptoms often include dysphagia, difficulty in swallowing and weigh ...

at his Dallas, Texas home in 2004.

References

External links

* {{DEFAULTSORT:Ling, James 1922 births 2004 deaths Businesspeople from Dallas People from Hugo, Oklahoma Military personnel from Oklahoma 20th-century American businesspeople Deaths from cancer in Texas

Biography

References

Further reading

External links