Summa Corporation

Summa Corporation

Summa Corporation was the name adopted for the business interests of Howard Hughes after he sold the tool division of Hughes Tool Company in 1972. The tool division would merge with Baker International in 1987 to form Baker Hughes, the world's third-largest oil-services company. The name "Summa", Latin for "highest", was allegedly chosen by several of Hughes' employees without consulting him first. Hughes was allegedly dissatisfied, and preferred the name "HRH Properties" - with the initials standing for both "Howard Robard Hughes" and "Hughes Resort Hotels". His suggestions were never implemented, and the company remained Summa for 18 years following Hughes' death.

This new holding company contained Hughes' varied investments including:
* KLAS-TV - the Las Vegas CBS affiliate
* Hughes Air West
* Hughes Sports Network
* Hughes Helicopters - a former division of Hughes Aircraft Company retained by Summa when the remainder of the aircraft business was donated to the Howard Hughes Medical Institute as its endowment
* Sands Hotel
* Frontier Hotel and Casino
* Landmark Hotel and Casino
* Castaways Hotel and Casino
* Desert Inn
* Silver Slipper Casino
* Xanadu Princess Resort
* Hughes Nevada Mining

Howard Hughes died in 1976 at the age of 71, leaving no will. Administrators were appointed led by his cousin William Lummis. Most of Summa's operations were gradually liquidated. Summa's Nevada money losing mining interests were sold by the end of 1976, while KLAS-TV and Hughes Sports Network were both sold in 1978. Hughes Air West was sold to Republic Airlines in 1981, Hughes Helicopters was sold to McDonnell Douglas for $500 million in 1984. The hotel and casino properties were gradually sold off during the 1980s. As its original businesses were sold, Summa recast itself as a real estate developer, using the vast tracts of undeveloped land Hughes had amassed around Las Vegas as a starting point.

In September 1994 Summa Corporation was renamed The Howard Hughes Corporation, both to honor Howard Hughes and to fulfill his original intentions of keeping his name on the business.

Howard Hughes Corp. was acquired by the Rouse Company in 1996. Rouse was, in turn, acquired by General Growth Properties in 2004. Howard Hughes Corp. survives as a General Growth subsidiary.


Wikimedia Foundation. 2010.

Игры ⚽ Поможем решить контрольную работу

Look at other dictionaries:

  • Summa (disambiguation) — A summa is a text that sums up knowledge in a field.Summa may also refer to:* 1928 Summa, a main belt asteroid * Battle of Summa, a battle fought between the Soviet Union and Finland * Homer Summa (1898 1966), baseball right fielder * Summa… …   Wikipedia

  • The Howard Hughes Corporation — is a major real estate development and management company based in Las Vegas, Nevada, which was founded by Howard Hughes. Later sold to the Rouse Company, it is now a subsidiary of General Growth Properties. History Formation as Summa… …   Wikipedia

  • Hughes Helicopters — Infobox Defunct Company company name = Hughes Helicopters, Inc. company fate = Acquired by McDonnell Douglas foundation = 1947 defunct = 1984 location = Culver City, CA and Mesa, AZ successor = McDonnell Douglas Helicopter SystemsHughes… …   Wikipedia

  • Summerlin, Nevada — Summerlin is a 23,400 acre (94.6 km²) planned community being built by The Howard Hughes Corporation (now an affiliate of General Growth Properties) in southern Nevada, along the western rim of the Las Vegas Valley near the Spring Mountains and… …   Wikipedia

  • Hughes Aircraft — Company was a major aerospace and defense company founded by Howard Hughes. The group was based near Ballona Creek, in Culver City, California.Hughes Aircraft was acquired by General Motors in 1985. GM sold off the aerospace and defense… …   Wikipedia

  • Hughes Aircraft — desarrollo de Hughes del AIM 120 AMRAAM, uno de los más avanzados misiles aire aire en su momento Hughes Aircraft Company fue una empresa aeroespacial y de defensa fundada por Howard Hughes. El grupo, tenía su central en Ballona Creek, Culver… …   Wikipedia Español

  • Hughes Aircraft — Rechtsform Corporation Gründung 1936 …   Deutsch Wikipedia

  • List of aircraft manufacturers by ICAO name — 0 9 * 3XTRIM Zaklady Lotnicze 3Xtrim Sp z oo (Poland) A Starting with A. * ROUND Round! Aerospace and Avionics. * AAC AAC Amphibiam Airplanes of Canada * AAMSA Aeronautica Agricola Mexicana SA * AASI Advanced Aerodynamics and Structures Inc *… …   Wikipedia

  • List of aircraft manufacturers H-L — NOTOC This is a list of aircraft manufacturers sorted alphabetically by International Civil Aviation Organization (ICAO)/common name. It contains the ICAO/common name, manufacturers name(s), country and other data, with the known years of… …   Wikipedia

  • Frank Morse (California attorney) — Frank Morse is a California businessman and attorney. His clientele previously included aviator and industrialist Howard Hughes, Saudi billionaire Adnan Khashoggi and American intelligence agent Larry J. Kolb. Morse graduated Phi Beta Kappa from… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”