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The Morgan Group, Inc. history
The Morgan Group, Inc. company history timeline
In 1959, Chase Manhattan Bank installed an IBM 650 computer, which enabled the staff to process transactions at lightning speed.
Morgan spent a lot of time studying local developers and in 1959, he founded Globe Construction and Management Company and began his first project, building 3 houses in Northeast Houston.
On November 21st, 1960, the new logo was unveiled, one of the first abstract logos used in banking.
He held that position until 1962, when the company was sold to CLC of America--a Chicago-based conglomerate whose primary business was transporting freight on river barges.
1962: Morgan Drive Away is acquired by CLC of America.
In 1969, Manufacturers Hanover and Chemical Bank are among the founding issuers of the Master Charge Plan, today’s Master Card.
Technological improvements to the ATM and added functionality, such as making deposits and transfers, are rolled out beginning in 1971.
In 1971, the same department unveiled its head turning 'Any Car' campaign, showcasing a vehicle created from the parts of 22 different cars.
The card is soon renamed Uni-Card and in 1972 joins the national BankAmericard System, the precursor to Visa.
In 1974, David Rockefeller, chairman of Chase Manhattan Bank, establishes the Chase Manhattan Bank Archives in an effort to preserve the legacy of his firm.
Nooyi earned a bachelor’s degree in chemistry from Madras Christian College in 1976 and a master’s degree in business administration from the Indian Institute of Management in Calcutta two years later.
In 1987, Bill's two oldest sons Mike and Ronnie incorporated Morgan , Inc. (MGI). The two became 50/50 partners with Mike finding sites and handling the development and construction and Ronnie handling property management, personnel, legal and worked with Mike on deal financing.
1988: Morgan is acquired by Lynch Corp.
In 1991, he purchased a 35-store retail tire business based in Clearwater and transformed it into the 600-store Tires Plus.
In 1992, four years after the acquisition, Lynch installed new management at Lynch Services and at Morgan.
In a December, 1993 interview with the Wall Street Transcript, Charles Baum explained that there would likely be similar acquisitions in the future.
In the summer of 1993, the company made an initial offering of 1.1 million shares at $9 per share.
In that same 1993 interview, Baum unveiled plans for another area of expansion.
In 1994 Nooyi joined PepsiCo as senior vice president of corporate strategy and development.
1995: The company acquires Transfer Drivers, Inc.
In 1996, Morgan made another important acquisition: Transit Homes of America, Inc.
Bill Morgan played a fundamental role in establishing the Holocaust Museum Houston and published a book in 1997 entitled "Living Longer Than Hate." More information on Bill's story can be found at www.livinglongerthanhate.com
First Chicago NBD introduces a free Internet bank in 1998.
And in 2000, Chase Manhattan merged with JPMorgan & Co, to form today's JPMorgan Chase.
For 2000, Morgan posted revenues of $108 million, a decrease of 26 percent from the previous year, and a net loss of $4.8 million.
2000: Anthony Castor is appointed CEO of The Morgan Group.
In an August 13, 2001 press release, Castor noted that the demand for manufactured housing had shown a slight improvement in the second quarter.
In 2001 she was named president and chief financial officer of the company.
Although the original design featured multiple colors and patterns, in 2004 the solid blue octagon was adopted.
Since its beginning in 2004, the father-son-created Morgan Auto Group has been committed to fulfilling all vehicle needs for their customers.
Nooyi assumed the title of CEO in October 2006 and the next year became chairman of the board as well.
In 2008, Morgan was recognized by Toyota and Time Magazine for success in sales, customer service and charitable work for the community.
In 2009, Tampa Bay CEO Magazine named him one of the Top 100 Most Influential Business Leaders in Tampa Bay.
In 2010, the firm acquired the successful British investment bank, Cazenove.
Legacy Lives on in MORGAN In March 2011, Mike purchased Ronnie's stock in Morgan, Inc. and rebranded the company Morgan.
Building on its original investment, the firm expands the program in 2018 with a new five-year $350-million commitment.
The following year it was announced that Nooyi would be stepping down as CEO in October and as chairman of the board in early 2019.
24 on the top 150 United States dealership groups in 2019 and ranked them No.
Nooyi’s memoir, My Life in Full: Work, Family, and Our Future, was published in 2021.
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The Morgan Group, Inc. competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Castle Management, Inc. | 1995 | $120.0M | 450 | 145 |
| Buckingham Companies | 1984 | $21.4M | 420 | 52 |
| Pickering's | 1946 | $7.5M | 100 | - |
| MC Companies | 1985 | $37.5M | 50 | - |
| JWB Real Estate Capital | 2006 | $5.4M | 58 | - |
| Professional Property Services | - | $570,000 | 10 | - |
| PRG Real Estate | 1985 | $13.0M | 200 | 40 |
| Cummings | - | $38.0M | - | 32 |
| Crossman & Company | 1990 | $3.1M | 70 | - |
| Landlord | - | $5.0M | 150 | 1 |
The Morgan Group, Inc. history FAQs
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The Morgan Group, Inc. may also be known as or be related to Morgan Construction Company and The Morgan Group, Inc.