Martin Marietta Corporation - 1960's-70's dated Aviation Bond - Available in Purple, Red or Aqua
Inv# VB5002 Bond
Aviation Bond. Various Denominations. Attractive female figure with globe. Ornate borders. Scarce!!!
The Martin Marietta Corporation, founded in 1961 through the merger of the Glenn L. Martin Company and American-Marietta Corporation, emerged as a prominent player in the chemical, aerospace, and electronics industries. In 1995, it merged with Lockheed Corporation to form Lockheed Martin. Martin Marietta, headquartered in Baltimore, primarily focused on aerospace, with a recent emphasis on missiles, particularly its Titan program. On the other hand, American-Marietta, headquartered in Chicago, produced a diverse range of products, including paints, dyes, metallurgical products, construction materials, and more.
In 1982, Martin Marietta faced a hostile takeover bid from the Bendix Corporation, led by William Agee. Bendix acquired a significant portion of Martin Marietta’s shares, effectively gaining control of the company. However, Martin Marietta’s management seized the opportunity to sell non-core businesses and launch its own hostile takeover of Bendix, known as the Pac-Man defense strategy. Under the leadership of CEO Thomas G. Pownall, Martin Marietta emerged victorious in this intense battle. The company’s survival marked the end of this extraordinary and bitter conflict, while Bendix was acquired by Allied Corporation.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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