Now that the U.S. economy is on the mend, Textron has come roaring back.
Smart weapons of the kind produced by Textron, for example, are programmed to hit vehicle targets.
Textron shares took off after Credit Suisse raised its rating on a bright future.
This has bolstered commercial prospects at General Dynamics and Textron, respectively Gulfstream and Cessna.
In this case, it was undisputed that the IRS has audited every Textron tax return since 1980.
In seven of its past eight audit cycles, Textron has appealed disputed tax matters to the IRS Appeals Board.
Clients include Budget, the supermarket chain Hannaford Brothers, Louisiana State University and Textron.
He built and sold two aerospace contractors to the Textron conglomerate in 1960.
Textron memos and calculations dealt with the extent to which its tax reporting would pass muster in an IRS audit.
He would employ at least three hundred workers rebuilding sixty vehicles a month, with Textron, a partner company in Louisiana, producing the rest.
But more than two dozen new companies joined Nascar as sponsors in 2012 and others, including Hertz and Textron, signed on this year.
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Textron petitioned the United States District Court for the District of Rhode Island to quash the summons on the ground of the work product privilege.
Corporate players include Altria Group , Textron and Wachovia .
Bankers are pressing other multi-industry companies with big defense holdings like Textron to make a similar move, although the Providence-based conglomerate shows little evidence of being interested.
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Textron was one of the high-flying conglomerates back when such enterprises were considered fashionable in the 1960s, and despite repeated makeovers it remains committed to its multi-industry character.
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The fact Textron is a conglomerate has a lot to do with why it has been around so long, because resources can be shifted among business lines as circumstances require.
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For example, one company widely mentioned as a potential target of activists is Textron, the Providence, Rhode Island-based industrial conglomerate that builds everything from the V-22 Osprey tilt-rotor to smart cluster bombs.
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Fact is, there are plenty of companies like Textron and United Technologies that have managed to successfully mix defense and commercial lines, and in many cases the requisite skills seem to be complimentary.
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Mass layoffs have been the theme of the season: The most recent companies to issue pink slips are industrial conglomerate Textron and IT services company Unisys -- together they dismissed 3, 500 people this week.
The continuing success of companies like Textron, United Technologies and General Electric in a region where thousands of factories have shut down over the years is a testament to the adaptability of well-run enterprises.
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Those commercial markets are likely to offer more favorable conditions in the years ahead than the military marketplace, and yet the products Textron sells to the Pentagon would be hard for the joint force to do without.
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The project has been in the works for years already, but Rafi recently managed to get a rudimentary prototype to fly a few feet off the ground, and has sparked some interest from Textron's Bell Helicopters for potential partnership.
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Raytheon has a sprawling campus near Newport that develops electronic systems for U.S. warships, and as you travel I-95 through the state capital of Providence you will see the high-rise headquarters of military supplier Textron looming above Westminster Street near the highway.
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Here, Textron clearly prepared the relevant materials with an eye towards a potential tax dispute with the IRS. Prudent companies such as Textron routinely anticipate such controversies and begin legal preparation well in advance of the time an appeal or litigation is formally commenced.
What makes Textron interesting in the current environment is that it has managed to maintain its role as a supplier of unique military equipment to all three military departments while having a major presence in commercial markets such as automotive, recreation and business jets.
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