Word: boardrooms
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...Interview: At the Boardroom of U.S. Steel...
...lucky salesman did not pocket his entire commission; more than half of it had to be distributed as "gratuities" to the officials in the purchasing country who had smoothed the way for the deal. By and large, weapons these days are sold like any other manufactured product: in straightforward boardroom deals that have been scrutinized by lawyers and checked thoroughly by accountants, and are supervised carefully by government agencies. Where there is keen competition among several suppliers, however, some arms companies try a little harder. "Graft fuels almost every arms transaction," admits a veteran European arms trader. In his view...
Board-Room Politics. One of Volkswagen's casualties was Rudolf Leiding, 60, who resigned as president last month. The company gave poor health as the reason, but by all appearances, Leiding's main problems were bad luck in sales and some brusque boardroom politics. When he took over the top job at Volkswagen's Wolfsburg headquarters in 1971, Leiding recognized that the basic Beetle, essentially a 1937 design, was steadily losing consumer appeal, and he moved quickly to develop new models to replace it. Unfortunately, the oil crisis and the subsequent economic slowdown hit just as Leiding...
...spare, white-haired tycoon's position was further weakened because of the carload of enemies he has made at the White House. He was a vigorous critic of the Viet Nam War and called President Nixon a "dictator"; for imposing wage-price controls. Eaton is a veteran of boardroom battles during a career of more than half a century, in which he has controlled such major corporations as Republic Steel and Goodyear. He may not be through yet. He still owns the biggest block of C & O stock, and no one would be surprised if he launched a counterattack...
Another troubled situation is the four-year-old liaison between Fiat and France's Citroën, which are supposed to exchange technology and share plants. Amid rumors of boardroom squabbles, Citroën plans to sell additional stock, but Fiat General Manager Umberto Agnelli says that Fiat will buy none of it. As in the Dunlop-Pirelli alliance, neither side can move without the other's consent. Says Agnelli: "Our objectives are very ambitious-to produce the automobile of the future for a worldwide market." Citroën, he adds, has "failed to follow these objectives...