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Creating COMSAT

In: The Rise and Fall of COMSAT

Author

Listed:
  • David J. Whalen

    (University of North Dakota)

Abstract

On October 4, 1962, President Kennedy appointed the 13 men (there were no women) charged with incorporating Comsat, raising money, issuing stock, dealing with foreign partners, and hiring staff. On October 22, 1963, the 13 incorporators met for the first time in the American Red Cross building in 17th Street across from the White House. They confirmed Philip L. Graham (publisher of the Washington Post) as chairman and elected Sam Harris (lawyer) as vice-chairman. The remaining incorporators included Edgar F. Kaiser (manufacturing executive), David M. Kennedy (banker), Sidney J. Weinberg (finance), Bruce G. Sundlun (lawyer), Byrne L. Litschgi (lawyer), Beardsley Graham (aerospace engineer), Leonard Woodcock (labor executive), George J. Feldman (lawyer), Leonard Marks (telecommunications lawyer), John T. Connor (pharmaceutical executive), George F. Killion (shipping executive): five lawyers, three company presidents, two financiers, one publisher, one labor representative, and one engineer. Only Leonard Marks had any connection to the telecommunications business and only Beardsley Graham had any engineering expertise—almost half were lawyers. Their first task was to incorporate; their second to issue stock—perhaps as much as $500 million worth.1

Suggested Citation

  • David J. Whalen, 2014. "Creating COMSAT," Palgrave Macmillan Books, in: The Rise and Fall of COMSAT, chapter 2, pages 37-66, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-39693-8_3
    DOI: 10.1057/9781137396938_3
    as

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