Biography of Philo T. FarnsworthIn the spring of 1967, Farnsworth and his family moved back to Utah to continue his fusion research at Brigham Young University, which presented him with an honorary doctorate... Realizing the fusion lab was to dismantled at ITT, Farnsworth invited staff members to accompany him to Salt Lake City as team members in his planned Philo T. Farnsworth Associates (PTFA) organization... However, although a contact with the National Aeronautics and Space Administration was promptly secured and more possibilities were within reach, the financing needed to pay the $24,000 in monthly expenses for equipment rental and salaries was stalled. By Christmas 1970, PTFA had failed to secure the necessary financing. The Farnsworths had sold all their own ITT stock and cashed out Phil's life insurance policy to maintain organization stability. The underwriter had failed to provide the financial backing that was to have supported the organization during its critical first year. The banks called-in all outstanding loans. Repossession notices were placed on anything not previously sold and the Internal Revenue Service put a lock on the laboratory door until delinquent taxes were paid. During January 1970, PTFA was disbanded. Farnsworth became seriously ill with pneumonia and died on March 11, 1971.
by Lyudmila Dekhtyar
PHY 272-01
Wow, that makes me really wonder what Philo could have invented if he hadn't hit the financial brick wall...