Atlas Corporation
Atlas Corporation is an American investment firm formed in 1928 that built and managed interests across transportation, retail, aerospace, utilities, finance, entertainment, and natural resources.
Last updated August 25, 2026
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Overview
Atlas Corporation is an American investment firm formed in 1928 through the combination of the United Corporation and Atlas Utilities and Investors Ltd. Its business model centered on capital formation, investment management, and the acquisition or control of companies in a range of industries rather than on a single consumer product. The firm was founded by Floyd Odlum and his brother-in-law Boyd Hatch, who led Atlas during its formative period, with Odlum serving as president and Hatch as vice-president. The company emerged during a volatile period in American finance. The United Corporation, one of the entities involved in the 1928 merger, had been established in 1923 with capital of $40,000. By 1929, Atlas had become a $12.55 million investment trust. According to the available historical account, the corporation managed to withstand the Wall Street crash and continued expanding during the 1930s and 1940s. Its growth reflected an investment strategy based on identifying undervalued or strategically important businesses, arranging capital, and exercising managerial influence over portfolio companies. Atlas's holdings and controlled interests extended across transportation, department-store retail, entertainment venues, mining, utilities, aviation-related businesses, and banking. Among the best-known investments were Greyhound Lines, Madison Square Garden, Bonwit Teller, and Franklin Simon & Co. Atlas acquired Bonwit Teller in 1934 and Franklin Simon & Co. in 1936. The Bonwit Teller investment also had a notable management dimension: Floyd Odlum persuaded his wife, Hortense Odlum, to participate in the retailer's operations. She later became president of Bonwit Teller and is described in the reference material as the first woman to lead a major department-store chain as president. The corporation also became connected with the development of the American aerospace and defense industry. In 1947, Atlas acquired Consolidated Vultee Aircraft Corporation from AVCO. Consolidated Vultee later became known as Convair. The investment placed Atlas at the center of aircraft manufacturing and emerging aerospace contracting. The Atlas name was subsequently applied to the Atlas missile program, which began receiving that designation in 1951. The program produced the Atlas missile, described in the reference material as the first American intercontinental ballistic missile, and the launch vehicle was later used in the Mercury missions that carried American astronauts into orbit. This association made Atlas an important historical name in early American space and missile development, even though the corporation itself was an investment company rather than a dedicated aerospace manufacturer. Atlas also held a controlling interest in RKO Pictures for part of the postwar period. In 1948, Howard Hughes acquired control of RKO from Atlas. This transaction illustrates the firm's role as an owner and capital allocator across unrelated sectors, with investments sometimes later sold to strategic or financial buyers. The available reference describes Atlas's later activity as involving ownership interests in natural-resources investments. Specific current holdings, management, headquarters, website, ownership structure, and financial results are not established by the supplied material. Atlas Corporation is therefore best characterized as a historically significant American investment and holding company whose identity was shaped by diversified ownership, active capital management, and participation in several major industrial developments of the twentieth century.
History
Atlas Corporation was created in 1928 by merging the United Corporation with Atlas Utilities and Investors Ltd. The United Corporation had originated in 1923 with $40,000 in capital, while the newly formed Atlas quickly developed into a substantial investment trust. By 1929, its reported size was $12.55 million. The company operated during the severe financial disruption surrounding the Wall Street crash, but the historical account states that it survived the downturn and continued growing through the 1930s and 1940s. Floyd Odlum and Boyd Hatch founded and led the corporation, with Odlum as president and Hatch as vice-president. Atlas specialized in forming and managing capital and used that capability to acquire, finance, or control businesses in varied sectors. Its portfolio included transportation, retail, entertainment, utilities, mining, banking, and aviation. The company was associated with Greyhound Lines and Madison Square Garden and acquired important retail businesses, including Bonwit Teller in 1934 and Franklin Simon & Co. in 1936. The Bonwit Teller investment became significant not only as a retail holding but also because of Hortense Odlum's management role. Floyd Odlum encouraged her to work in the business, and she later became president of the department-store chain. Her appointment is identified in the reference material as a landmark in American retail leadership because she became the first woman president of a major department-store chain. Atlas's most consequential industrial investment came in 1947, when it acquired Consolidated Vultee Aircraft Corporation from AVCO. Consolidated Vultee subsequently became Convair, connecting Atlas with aircraft production and the expanding postwar aerospace and defense economy. The Atlas name was later given to a missile program beginning in 1951. The resulting Atlas missile became the first American intercontinental ballistic missile and was also adapted as a launch vehicle for Project Mercury missions, helping place American astronauts into orbit. This legacy is frequently associated with Atlas Corporation even though the company was fundamentally an investment and holding enterprise. The company also held control of RKO Pictures. In 1948, Howard Hughes acquired control of RKO from Atlas, demonstrating the corporation's willingness to realize or transfer investments in major operating companies. Atlas's historical portfolio therefore changed over time as it bought, managed, and sold interests across different industries. The supplied reference gives limited information about the company's later corporate structure. It states that Atlas has ownership in natural-resources investments, but does not identify specific current assets, executives, financial results, or a corporate website. On the available evidence, Atlas is best understood as a diversified American investment firm whose historical importance rests on its capital-allocation model and its links to transportation, retail, entertainment, aerospace, utilities, banking, mining, and early American spaceflight.
- 1951
Atlas missile program is named
[1]The Atlas name was applied to the missile program that later produced an American ICBM and a Mercury launch vehicle.
- 1948
RKO Pictures control passes to Howard Hughes
[1]Howard Hughes acquired controlling interest in RKO Pictures from Atlas Corporation.
- 1947
Consolidated Vultee Aircraft Corporation is acquired
[1]Atlas purchased Consolidated Vultee Aircraft Corporation from AVCO; the aircraft company later became Convair.
- 1936
Franklin Simon & Co. is acquired
[1]Atlas acquired the ladies' apparel retailer Franklin Simon & Co.
- 1934
Bonwit Teller is acquired
[1]Atlas acquired Bonwit Teller and involved Hortense Odlum in the retailer's operations.
- 1929
Atlas becomes a substantial investment trust
[1]Atlas was reported as a $12.55 million investment trust and subsequently weathered the Wall Street crash.
- 1928
Atlas Corporation is formed
[1]The United Corporation merged with Atlas Utilities and Investors Ltd. to form Atlas Corporation.
- 1923
United Corporation is established
[1]The United Corporation, one of Atlas Corporation's predecessor entities, was established with $40,000 in capital.
Products and positioning
A diversified American investment and holding company focused on capital formation, corporate acquisitions, management influence, and ownership interests across multiple industries.
Financial services · 1928
Investment and capital-management services
Atlas's central business was the formation, deployment, and management of capital. Rather than selling a standardized consumer product, the firm acquired, financed, managed, or controlled operating businesses across several industries. Its investment approach made the corporation a diversified holding and investment platform.
Investment holdings · 1928
Diversified corporate holdings
Historical Atlas holdings and controlled interests included transportation, department-store retail, entertainment venues, utilities, mines, banks, and aviation-related companies. Named examples include Greyhound Lines, Bonwit Teller, Franklin Simon & Co., and Madison Square Garden.
Aerospace and defense · 1951
Atlas missile program
The Atlas name was applied to a missile program beginning in 1951. The resulting Atlas missile became the first American intercontinental ballistic missile and was later used as a launch vehicle for Mercury missions. This was an important historical association of the corporation, although the company itself was an investment firm.
Natural resources
Natural-resources investments
The available reference describes Atlas's later ownership interests as including natural-resources investments. It does not identify the specific resources, assets, geographies, or operating companies involved.
Brand decisions
1948
Transfer control of RKO Pictures to Howard HughesM&ABackground
Atlas held a controlling interest in RKO Pictures as part of its diversified portfolio.
Action taken
Howard Hughes acquired controlling interest in RKO Pictures from Atlas Corporation.
Aftermath
Atlas relinquished control of the film company.
1947
Acquire Consolidated Vultee Aircraft CorporationM&ABackground
Atlas sought exposure to aviation and the developing postwar aerospace and defense sector.
Action taken
Atlas acquired Consolidated Vultee Aircraft Corporation from AVCO.
Aftermath
The company later became known as Convair, and the Atlas name became associated with the subsequent missile program and early American space launches.
Recent events
- 1951
The Atlas missile program receives its name[1]
Product launch · Other
The Atlas name was applied to the missile program that later produced the Atlas missile and supported the United States' early intercontinental ballistic missile and human-spaceflight efforts.
- 1948
Howard Hughes takes control of RKO Pictures from Atlas[1]
M&A
Howard Hughes acquired a controlling interest in RKO Pictures from Atlas Corporation, ending Atlas's control of the film company.
- 1947
Atlas acquires Consolidated Vultee Aircraft Corporation[1]
M&A
Atlas acquired Consolidated Vultee Aircraft Corporation from AVCO, adding a major aircraft-manufacturing and aerospace-related business to its portfolio.
- 1936
Atlas acquires Franklin Simon & Co.[1]
M&A
The corporation acquired the ladies' apparel retailer Franklin Simon & Co. as part of its expansion across consumer businesses.
- 1934
Atlas expands into department-store retail[1]
M&A · Leadership change
Atlas acquired Bonwit Teller and brought Hortense Odlum into the retailer's management, where she subsequently became its president.
- 1928
Atlas Corporation is formed through a merger[1]
Other
The United Corporation and Atlas Utilities and Investors Ltd. combined to create Atlas Corporation, establishing the investment firm that would later build a diversified portfolio of industrial and commercial interests.
Sources1 sources
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