Eugene McDermott
In 1951, McDermott, along with Cecil Howard Green, Patrick E. Haggerty, and J. Erik Jonsson co-founded Texas Instruments. This was done when the company changed its name to Texas Instruments; GSI becoming a wholly owned subsidiary of the new company. This acknowledged that the company had changed its focus from one primarily devoted to oil exploration to one focused on manufacturing. McDermott was the Chairman of TI from 1951-1957, Chairman of the Executive Committee of Board of Directors from 1957-1964 and Director until his death in 1973. During this period of time, Texas Instruments rose to be one of the world's largest corporations.
Odessa, Texas
The University of Texas of the Permian Basin (UTPB) began in 1973. UTPB was an upper level and graduate university until the Texas Legislature passed a bill in spring 1991 to allow the university to accept freshmen and sophomores. As of 2006, the university was holding discussions with the Nuclear Regulatory Commission about construction of a new High-Temperature Teaching and Test Reactor, which if successful, would finish licensing and construction around 2012. It would be the first university-based research reactor to be built in the US in roughly a decade, and be one of the few HTGR-type reactors in the world. In January 2006, UTPB's School of Business was awarded accreditation by the Association to Advance Collegiate Schools of Business International, which is generally regarded as the premier accreditation agency for the world's business schools. According to the university, only 30% of business schools in the United States, and 15% of world business schools, have received AACSB accreditation.