Word: goodrich
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...opponents of conglomerates tell it, the usual takeover scenario is a melodramatic affair involving a helpless target company and an unscrupulous interloper. The script has been scrambled in the case of Akron's B. F. Goodrich and its ardent but so far unsuccessful suitor, Northwest Industries. The rubber company's public relations and legal fight against Northwest's four-month-old takeover bid has been waged so well that, even though it is not yet over, it is looked upon as a classic corporate counteroffensive against an unwanted but aggressive merger partner...
Northwest President Ben Heineman appears to be a businessman at bay. Only hours before his conglomerate's annual meeting began in Chicago last week, the Justice Department announced that it would seek to block Northwest's bid for Goodrich. A stockholder at the meeting asked, why not just drop the whole thing? Nothing doing, replied Heineman. "I don't think I have ever been known as a summer soldier...
...Goodrich Co., fighting a takeover by Northwest Industries, increased its 1968 profit from $2.76 per share to $3.25 through two maneuvers. The company shifted to straight-line depreciation and changed its method of tabulating earnings. Higher profits, of course, would tend to lift the price of Goodrich's stock -making it more difficult for Northwest to buy control...
...also establishes a ten-man advisory board to determine what churches should be demolished, preserved or put to some other use. Even this new concern, however, has not entirely erased the melancholy over the decay of England's country churches. "An empty country church," says the Rev. Philip Goodrich, vicar of a commuter-belt church near London, reflecting the sentiments of many Britons, "is somehow a much sadder phenomenon than an empty urban church. Nostalgia dogs...
...safe from the grasp of conglomerates. During the past two years, conglomerates have absorbed or gained control of such big and basic enterprises as Jones & Laughlin Steel, Lorillard, Wilson, United Fruit and Armour. Lately, relative newcomers to the corporate scene have attempted to take over Sinclair Oil, B. F. Goodrich, Allis Chalmers and mammoth A & P. Even Pan American World Airways, long considered to be practically an unofficial agency of the U.S. Government, feels threatened by Resorts International, a onetime paintmaking company whose primary asset is a Bahamas gambling casino and a few hotels. Resorts' total assets are about...