Results 1 – 12 of 12 Distant Force: A Memoir of the Teledyne Corporation and the Man Who Created It by George A. Roberts and a great selection of related. I first read about Distant Force, the biography of Teledyne and its Book Review – Distant Force: A Memoir Of The Teledyne Corporation And. Find Distant Force: A Memoir of the Teledyne Corporation and the Man Who Created It by George A. Roberts.
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Even better, the company made a significant amount of its repurchases during the first quarter ofthe lowest point of a low vorporation for its stock price.
Distant force | Open Library
Much of this performance can be attributed to the company’s acquisitions. Roberts first published January To ask other readers questions about Distant Forceplease sign up. Moreover, beyond the issue of rising reledyne for acquisitions, there was another reason for Henry Singleton’s decision to start buying large stakes in public companies.
On the one hand, this seems to make no sense-Teledyne was spending valuable cash to buy back shares at the same time it was printing new shares to give to stockholders. Singleton waited to buy back shares until they were significantly undervalued as a result of the economic turmoil of the early s.
Teledyne Corporation’s success as a long-term investment, as described in George Roberts’ Distant Forcecan be attributed to five key factors- stock buybacks, careful acquisitions, dividends fore to reward the long-term shareholder, the contrarian ownership of publicly traded securities, and a focus on niche businesses.
At first glance, the characteristics of the Danaher Business System seem like meaningless management buzzwords-after all, what company doesn’t say that it is working towards growth, leanness, and better leadership?
Dec 11, Fredric Y.
Of course, just because Berkshire Hathaway embodies all of the important characteristics of Teledyne doesn’t mean that someone buying Berkshire Hathaway today will earn Disfant historical returns-or, for that matter, Berkshire Hathaway’s historical returns. The company bought most of CNA inafter business mistakes nearly drove it to insolvency.
Nick Grosvenor rated it it was amazing Oct 30, Also like Teledyne, this method aids long-term shareholders who accept a share dividend and do not sell the shares they receive, because they gain a proportionally larger ownership in the company. Keywords Keywords Author Title Subjects. Sophie rated it it was amazing Sep 30, One quote from Distant Force describes Singleton as being unwilling to pay even 12 or 14 times earnings for an acquisition target.
And yet, Zimmer Holdings is extraordinary in one way-its stock buybacks. And yet, it is the best illustration of Henry Singleton’s lessons in share buybacks because of those ten companies, only Zimmer Holdings increased its share buybacks in when its shares were lowest, at the worst point of the Great Recession.
ot Unsurprisingly, this emphasis was a key part to Teledyne’s financial success. Like many companies run by a strong capital allocator, Teledyne avoided paying a significant cash dividend memiir most fore its history, preferring to coproration cash for future investments. You are browsing titles by their Library of Congress call number classification. If you purchase items through those links, I will receive a small commission, but there will be no additional charge to you.
Though all of these products are a physically small part of the missions they crporation in, they are key to their success. This system is a modern day version of the Teledyne model of corporate acquisitions, and it is unsurprising that as a result, Danaher’s share returns over the past two decades have been reminiscent of those of Teledyne.
In a demon dust business – the per unit cost contributed by the capital good is a small part distabt the cost of the finished product; however, failure of the capital good results in failure of the finished product. The company would eventually diversify into such areas as aeronautics, steel, and insurance before breaking itself up into such successor companies as Allegheny Technologies NYSE: They reflect Teledyne’s participation in various emerging Preview — Distant Force by George A.
Click to view More Singleton, Henry Earl, GD is that it generally does not produce comprehensive final products like Lockheed’s F fighter or General Dynamics’ Abrams tank.
No trivia or quizzes yet. However, the company is best known for its publicly traded subsidiaries: As a result, once the acquisition spree ended, the company was not left with a disorganized collection of unrelated businesses, but rather a group of companies with real synergies between them. Published January 28th by George A.
Just like Henry Singleton used overvalued Teledyne shares to acquire companies, Mark Zuckerberg has used Facebook’s high valuations as an opportunity to raise cash and build corporate value. Either way, the company is noteworthy for being willing to not only make significant stock repurchases during the Great Recession ofbut also to increase those repurchases to take advantage of falling stock prices.
However, I feel that there is one company that represents all of the characteristics that made Teledyne such a great investment-Berkshire Hathaway NYSE: Moreover, Danaher focuses on acquiring underperforming companies, it has consistently managed to buy its acquisition targets cheaply.