Word: booze
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Behind the rising clamor against overseas business ventures lay the fact that U.S. direct long-term investment abroad, which now stands at $34 billion, is increasing at an ever-mounting rate. Last week the management consultant firm of Booz. Allen & Hamilton reported that between mid-1960 and mid-1961, U.S. companies started 653 new businesses overseas, mostly in chemicals, machinery, food, and transportation equipment. Western Europe attracted more than half the new businesses, followed by Latin America and Asia. This year, the Commerce Department estimates, U.S. companies will spend $4.5 billion on overseas plant and equipment...
...Chicago's Booz, Allen & Hamilton, the famed management consultant firm (with a big New York office), considers its prime business to be diagnosing a company's ills, but will also find new executives to help cure them...
Mergers are also prompted by the fear of being caught with a single product in an age of rapid technological changeand widespread diversification. "There is a realization now as never before that new products are a vital source of new profits,'1 says Partner Wilson Randle of Booz, Allen & Hamilton, management consultants. "You can get a new product through research and development-or you can go out and buy it. Research and development might take three or four years. A merger can do it overnight." There are also personal reasons for mergers. Example: Chicago's Consolidated Foods recently...
...that mergers offer no sure solution to the troubles or shortcomings of a company. Nor do they guarantee growth and a big rise in earnings. But they can often help a bright and growing firm to grow even faster. In comparing 50 acquisitive firms with 50 nonacquisi-tive firms, Booz, Allen found that merger-minded firms increased sales 70% v. 40% for the nonacquisitive firms. But their earnings did not keep pace with their increased assets, as did the earnings of nonmerging firms...
...company's fees were about $1,800,000 a year when Booz retired in 1946 and Hamilton died. The job of coordinating, i.e., managing, partner fell to James L. Allen, then 41, a scholarly Kentuckian with a steel-trap mind for remembering facts and a punch-card sorting machine's ability to organize them. Holding that management analysts should continuously analyze themselves, Allen set up a think department to do nothing but figure out new services the firm could offer to an ever widening circle of clients...