Formed in 1929 as a parent corporation to take control of several firms hit by the Depression: Lockheed Aircraft Company, Ryan Aircraft Corporation, Eastman Aircraft Corporation, Blackburn Aircraft Corporation, Aircraft Development Corporation, Marine Aircraft Corporation, Parks Airlines Ltd., and the Winton Engine Corporation. The consortium itself failed shortly afterwards.
In 1929 Lockheed merged with the Detroit but After the Great Crash Detroit Aircraft Corporation went bankrupt in 1931 and with it Lockheed.
In 1932, Boston banker Robert Gross led a syndicate that bought and resurrected the company with $50,000. The Electra was a success and the company prospered.
All Aero 