Bangor Punta Website - Link to Homepage

Bangor Punta Corporation - In A Nutshell

The Prime Directives

Nicolas M Salgo, W. Gordon Robertson and David W. Wallace - 1968 Photographs

A highly diversified firm, Bangor Punta Corporation, explains that the role of its corporate headquarters is "to act as a central bank supplying operating units with working capital and capital funds" (1966 Annual Report)…

"We think Bangor Punta is distinctive -- and perhaps exceptional -- among multi-industry companies..." (1968 Annual Report)

Bangor Punta's overall aim is to progress at an annual growth rate of 25%, employing the Corporation's assets to the greatest possible shareholder advantage.

The CEO of a conglomerate called Bangor Punta predicted that one day America would have only 200 corporations, all of them conglomerates. 1

The Major Players

1 Brief excerpt from "A Concise History of Management Hooey For every Six Sigma quality initiative, there's an inkblot test. Why FORTUNE 500 companies fall prey to boneheaded fads and fashions. By Geoffrey Colvin June 28, 2004" This concept can be traced to Adolph Berle and Gardiner Means who compiled their classic study of the American marketplace in 1932. They discovered that one-half of all corporate wealth was in the hands of just 200 companies. If these companies continued to grow at their 1932 rate, they predicted that by 1950 these 200 companies would control three-quarters of the country's incorporated wealth. They also found that 90 percent of large firms were controlled by managers rather than by shareholder owners.
2 Forbes; 8/1/94, Vol. 154 Issue 3, p38-39, 2p, 2c
3 "Was he born on Friday the 13th? By: Norman, James R., Forbes, 00156914, August 1 1994, Vol. 154"

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Bangor Punta Corporation Collection

Bangor Punta Era

The Bangor Punta era, lasted approximately twenty years -- from 1964 to 1984.

History will likely remember the company for its tenacity in pursuing acquisitions; their high-profile corporate executives; and, two United States Supreme Court cases that the company was involved in during its short life span.

Bangor Punta Nostalgic History

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