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Similar views have lately been aired with growing frequency by other U.S. executives, notably former Under Secretary of State George W. Ball, now chairman of Lehman Brothers International, Ltd., the overseas arm of the Manhattan investment banking house. Last month Ball even suggested that multinational companies be allowed to escape the control of individual nations through a treaty creating an "international companies law." Only thus, Ball argues, can global enterprises avoid "the stifling restrictions imposed on commerce by the archaic limits of nation states" and realize their potential to "use the world's resources with maximum efficiency...
...three of the four men who lunched together last week in the executive dining room of Britain's Associated Electrical Industries Ltd. on Grosvenor Place, London, the menu included a side order of crow. The humiliation of A.E.I. Chairman Sir Charles Wheeler, Chief Executive Sir Joseph Latham and Finance Director John Barber stemmed from the circumstances of the lunch. Their guest, General Electric Co. Ltd. Managing Director Arnold Weinstock, 43, had just acquired their company in one of the bitterest takeover battles in British business history and had come to Grosvenor Place to begin putting it into effect...
...eight years he spent as chairman of Imperial Chemical Industries Ltd., Sir Paul Chambers, 63, shook up Britain's largest private company from the front office to the production line. He turned a stodgy, Commonwealth-oriented company into a lean operation with new muscle to flex on world markets. Now Chambers wants out. For all his efforts, I.C.I.'s actual performance remains sluggish. And he puts part of the blame on Labor government policies; he complains that "any fool can save the pound by damming the economy." Opting for a far less demanding job, Chambers will leave I.C.I...
Most successful of these is five-year-old Chesham Amalgamations & Investments Ltd. Finding a proper fit for its 400 clients is arduous work, normally involving research into 4,000 prospects annually and resulting in a meager three mergers a month. Explains Chesham Director Nicholas Stacey: "Our job is to explore the field in which our client is interested and find the most suitable company for his needs. Then we negotiate and put a valuation on it for him. Finally, we stamp on our 'Good Housekeeping seal...
Most businessmen credit U.S. merg er makers with the invention of cor porate conglomerates - companies that grow by garnering others in unrelated fields. Not Britain's Leonard J. Matchan, 55, president and chairman of London-based Cope Allman Interna tional Ltd., who was in New York City last week to plug a venture...