Bucking Traditions and Trends
"In 1962," Harman writes, "I succumbed to an interesting temptation." Milton Jerrold Shapp, founder of a pioneering cable television company called Jerrold Electronics, suggested a merger with Harman/Kardon — an arrangement that would free Shapp from his business to run for political office, and team Harman/Kardon with a growing video industry. The merger took place, and Harman/Kardon became a part of the new Jerrold Corporation, with Shapp as its chairman, and Harman as its president and CEO.
However, the two men differed in business style and strategy, and Shapp invoked a buy-sell agreement that pre-existed the merger and outbid Harman for his share of the business.
Separated from Jerrold Electronics, Harman invested in a Long Island-based company, called Jervis Corporation, which made components for jet engines and for the automotive industry.