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- Hughes_Tool_Company abstract "Hughes Tool Company was established in 1908 as Sharp-Hughes Tool Company when Howard R. Hughes, Sr. patented a roller cutter bit that dramatically improved the rotary drilling process for oil drilling rigs. He partnered with longtime business associate Walter Benona Sharp to manufacture and market the bit. Following her husband's death in 1912, Sharp's widow Estelle Sharp sold her 50% share in the company to Howard Hughes, Sr. in 1914. The company was renamed Hughes Tool Company on February 3, 1915.When Hughes Sr. died in 1924, 75% of the company was left to Howard Hughes Jr., who at the time was a student at Rice University. According to Howard Sr.'s will, his son was to initially receive a 25% share, his wife 50%, and the remaining 25% was to be divided between various family members. Since Howard Sr.'s wife had died some years earlier, and the will had not been updated to reflect that, Howard Jr. automatically inherited his mother's shares. Resentful of his relatives' attempts to run the business, Howard Hughes Jr. had himself declared a legal adult (21 being the age of majority at the time), and bought out his relatives' minority share in the business. Under Howard Jr.'s ownership, Hughes Tool ventured into the motion picture business via Hughes Productions during the 1920s, and into the airline business in 1939 with the acquisition of a controlling interest in Transcontinental and Western Air (later renamed Trans World Airlines).In 1932, Hughes formed Hughes Aircraft Company as a division of the Hughes Tool Company. Hughes Aircraft thrived on wartime contracts during World War II (though not on the only two contracts it received to actually build airplanes), and by the early 1950s was one of America's largest defense contractors and aerospace companies with revenues far outpacing the original oil tools business. In 1953, Hughes Aircraft became a separate company and was donated to the Howard Hughes Medical Institute as its endowment. Hughes Aircraft's helicopter manufacturing business was retained by Hughes Tool Co. as its Aircraft Division until 1972. For a period of time in the 1940s to late 1950s, Hughes Tool owned the RKO companies, including RKO Pictures, RKO Studios, RKO Theatres, and the RKO Radio Network. For a brief period in the early 1960s, Hughes Tool held a minority stake in Northeast Airlines. Hughes Tool's majority stake in TWA was sold off in 1966. Two years later, in 1968, Hughes Tool Company purchased the North Las Vegas Air Terminal.In the late 1960s, Hughes Tool ventured into the hotel and casino business with the acquisition of the Sands, Castaways, Landmark, Frontier, Silver Slipper, and Desert Inn, all in Las Vegas. Hughes Tool also purchased KLAS-TV, Las Vegas' CBS affiliate. In the early 70's, Hughes Tool ventured back into the airline industry with the takeover of the largest regional air carrier in the western United States: Air West, renamed Hughes Airwest following the purchase. Hughes Tool also briefly owned Los Angeles Airways, a small airline operating a commuter service with a fleet of helicopters.In 1968, Hughes Tool purchased Sports Network Incorporated and renamed it the Hughes Television Network, with Dick Bailey continuing as president.The huge main plant for Hughes Tool located in Houston, Texas, fronting Harrisburg Blvd., had grown to be one of the biggest oil tool manufacturers in the World. It had the latest, largest, and most automated equipment for foundries, forging, heat treating, and machining anywhere. At its peak during the Texas Oil Boom, it was a center for manufacturing, design, research, metallurgy, and engineering for oil field technologies. This included tool bits and tool joints critical for oil drilling, some of the first technologies for ram blast bits for drilling in mines, geothermal drilling, and a hydraulic jackhammer known as the Hughes Impactor. It even had a fully functioning oil drilling rig inside its main research lab where any kind of rock bit could be tested on any kind of rock, up to and including granite. In 1972, Howard Hughes sold the Hughes Tool Company; it had been the consistently profitable part of his empire, and produced the profits that built all the rest from the very beginning. This became the "new" Hughes Tool Company while the remaining divisions of the business were placed in a new holding company, the Summa Corporation.Hughes Tool merged with Baker International to form Baker Hughes Incorporated in 1987.".
- Hughes_Tool_Company thumbnail Sharp-Hughes_Tool_Company,_1915.jpg?width=300.
- Hughes_Tool_Company wikiPageID "629030".
- Hughes_Tool_Company wikiPageLength "6489".
- Hughes_Tool_Company wikiPageOutDegree "44".
- Hughes_Tool_Company wikiPageRevisionID "676272643".
- Hughes_Tool_Company wikiPageWikiLink Baker_Hughes.
- Hughes_Tool_Company wikiPageWikiLink Baker_International.
- Hughes_Tool_Company wikiPageWikiLink CBS.
- Hughes_Tool_Company wikiPageWikiLink Castaways_(casino).
- Hughes_Tool_Company wikiPageWikiLink Category:1908_establishments_in_Texas.
- Hughes_Tool_Company wikiPageWikiLink Category:Companies_based_in_Houston,_Texas.
- Hughes_Tool_Company wikiPageWikiLink Category:Companies_established_in_1908.
- Hughes_Tool_Company wikiPageWikiLink Category:Defunct_manufacturing_companies_of_the_United_States.
- Hughes_Tool_Company wikiPageWikiLink Category:Howard_Hughes.
- Hughes_Tool_Company wikiPageWikiLink Category:Oilfield_services_companies.
- Hughes_Tool_Company wikiPageWikiLink Desert_Inn.
- Hughes_Tool_Company wikiPageWikiLink Drilling.
- Hughes_Tool_Company wikiPageWikiLink Drilling_rig.
- Hughes_Tool_Company wikiPageWikiLink Geothermal_drilling.
- Hughes_Tool_Company wikiPageWikiLink Geothermal_heat_pump.
- Hughes_Tool_Company wikiPageWikiLink Granite.
- Hughes_Tool_Company wikiPageWikiLink Houston.
- Hughes_Tool_Company wikiPageWikiLink Howard_Hughes.
- Hughes_Tool_Company wikiPageWikiLink Howard_Hughes_Medical_Institute.
- Hughes_Tool_Company wikiPageWikiLink Howard_R._Hughes,_Sr..
- Hughes_Tool_Company wikiPageWikiLink Hughes_Aircraft_Company.
- Hughes_Tool_Company wikiPageWikiLink Hughes_Airwest.
- Hughes_Tool_Company wikiPageWikiLink Hughes_Television_Network.
- Hughes_Tool_Company wikiPageWikiLink Jackhammer.
- Hughes_Tool_Company wikiPageWikiLink KLAS-TV.
- Hughes_Tool_Company wikiPageWikiLink Las_Vegas.
- Hughes_Tool_Company wikiPageWikiLink Las_Vegas,_Nevada.
- Hughes_Tool_Company wikiPageWikiLink Los_Angeles_Airways.
- Hughes_Tool_Company wikiPageWikiLink Merger.
- Hughes_Tool_Company wikiPageWikiLink Mergers_and_acquisitions.
- Hughes_Tool_Company wikiPageWikiLink New_Frontier_Hotel_and_Casino.
- Hughes_Tool_Company wikiPageWikiLink North_Las_Vegas_Airport.
- Hughes_Tool_Company wikiPageWikiLink Northeast_Airlines.
- Hughes_Tool_Company wikiPageWikiLink RKO_Pictures.
- Hughes_Tool_Company wikiPageWikiLink RKO_Radio_Network.
- Hughes_Tool_Company wikiPageWikiLink Ram_blast_bit.
- Hughes_Tool_Company wikiPageWikiLink Rice_University.
- Hughes_Tool_Company wikiPageWikiLink Sands_Hotel.
- Hughes_Tool_Company wikiPageWikiLink Sands_Hotel_and_Casino.
- Hughes_Tool_Company wikiPageWikiLink Silver_Slipper.
- Hughes_Tool_Company wikiPageWikiLink Summa_Corporation.
- Hughes_Tool_Company wikiPageWikiLink Texas_Oil_Boom.
- Hughes_Tool_Company wikiPageWikiLink Texas_oil_boom.
- Hughes_Tool_Company wikiPageWikiLink The_Landmark_Hotel_and_Casino.
- Hughes_Tool_Company wikiPageWikiLink Tool_bit.
- Hughes_Tool_Company wikiPageWikiLink Trans_World_Airlines.
- Hughes_Tool_Company wikiPageWikiLink Walter_Benona_Sharp.
- Hughes_Tool_Company wikiPageWikiLink File:Sharp-Hughes_Tool_Company,_1915.jpg.
- Hughes_Tool_Company wikiPageWikiLink File:Sharp-Hughes_Tool_Company_advertisement_in_Fuel_Oil_Journal_(February_1914).png.
- Hughes_Tool_Company wikiPageWikiLinkText "Hughes Tool Co. Aircraft Division".
- Hughes_Tool_Company wikiPageWikiLinkText "Hughes Tool Company".
- Hughes_Tool_Company wikiPageWikiLinkText "Hughes Tool".
- Hughes_Tool_Company wikiPageWikiLinkText "Sharp-Hughes Tool Company".
- Hughes_Tool_Company hasPhotoCollection Hughes_Tool_Company.
- Hughes_Tool_Company wikiPageUsesTemplate Template:Lead_too_long.
- Hughes_Tool_Company wikiPageUsesTemplate Template:Refimprove.
- Hughes_Tool_Company wikiPageUsesTemplate Template:Reflist.
- Hughes_Tool_Company subject Category:1908_establishments_in_Texas.
- Hughes_Tool_Company subject Category:Companies_based_in_Houston,_Texas.
- Hughes_Tool_Company subject Category:Companies_established_in_1908.
- Hughes_Tool_Company subject Category:Defunct_manufacturing_companies_of_the_United_States.
- Hughes_Tool_Company subject Category:Howard_Hughes.
- Hughes_Tool_Company subject Category:Oilfield_services_companies.
- Hughes_Tool_Company type Article.
- Hughes_Tool_Company type Company.
- Hughes_Tool_Company type Article.
- Hughes_Tool_Company type Company.
- Hughes_Tool_Company type Establishment.
- Hughes_Tool_Company type Field.
- Hughes_Tool_Company type Page.
- Hughes_Tool_Company comment "Hughes Tool Company was established in 1908 as Sharp-Hughes Tool Company when Howard R. Hughes, Sr. patented a roller cutter bit that dramatically improved the rotary drilling process for oil drilling rigs. He partnered with longtime business associate Walter Benona Sharp to manufacture and market the bit. Following her husband's death in 1912, Sharp's widow Estelle Sharp sold her 50% share in the company to Howard Hughes, Sr. in 1914.".
- Hughes_Tool_Company label "Hughes Tool Company".
- Hughes_Tool_Company sameAs Hughes_Tool_Company.
- Hughes_Tool_Company sameAs Hughes_Tool_Company.
- Hughes_Tool_Company sameAs m.02yd5n.
- Hughes_Tool_Company sameAs Hughes_Tool_Company.
- Hughes_Tool_Company sameAs Q444411.
- Hughes_Tool_Company sameAs Q444411.
- Hughes_Tool_Company wasDerivedFrom Hughes_Tool_Company?oldid=676272643.
- Hughes_Tool_Company depiction Sharp-Hughes_Tool_Company,_1915.jpg.
- Hughes_Tool_Company isPrimaryTopicOf Hughes_Tool_Company.