The Lockheed Corporation (originally Loughead Aircraft Manufacturing Company) was an American aerospace company founded in 1912 which merged with Martin Marietta in 1995 to form Lockheed Martin.
The Alco Hydro-Aeroplane Company was established in 1912 by the brothers Allan and Malcolm Loughead. This company was renamed the Loughead Aircraft Manufacturing Company and located in Santa Barbara, California.
In 1926, following the failure of Loughead,...
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The Lockheed Corporation (originally Loughead Aircraft Manufacturing Company) was an American aerospace company founded in 1912 which merged with Martin Marietta in 1995 to form Lockheed Martin.
The Alco Hydro-Aeroplane Company was established in 1912 by the brothers Allan and Malcolm Loughead. This company was renamed the Loughead Aircraft Manufacturing Company and located in Santa Barbara, California.
In 1926, following the failure of Loughead, Allan Loughead formed the Lockheed Aircraft Company (the spelling was changed to match its phonetic pronunciation) in Hollywood, California. In 1929 Lockheed sold out to Detroit Aircraft Corporation.
The Great Depression ruined the aircraft market, and Detroit Aircraft went bankrupt. A group of investors headed by brothers Robert and Courtland Gross, and including Walter Varney bought the company out of receivership in 1932. The syndicate bought the company for a mere $40,000. Ironically, Allan Loughead himself had planned to bid for his own...
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