Word: poniatoff
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Without a Plan. Ampex got into trouble by growing almost without effort-and without planning. In 1955 Ampex Founder Alexander M. Poniatoff,* a brilliant engineer with scant taste for administration, stepped up to chairman and turned over operational control of the company to ex-Banker George I. Long Jr., 55. Faced with a constant proliferation of products, Long tried to meet the situation by decentralizing Ampex into five divisions, each so loosely controlled that it amounted almost to an independent company. This added millions to overhead-millions Ampex could no longer afford when the 1960-61 recession began...
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