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MANAGING FOR SHAREHOLDERS IN A SHRINKING INDUSTRY: THE CASE OF GRUMMAN

MANAGING FOR SHAREHOLDERS IN A SHRINKING INDUSTRY: THE CASE OF GRUMMAN by Renso Caporali, Chairman and CEO, Grumman Corporation MANAGING FOR SHAREHOLDERS IN A SHRINKING INDUSTRY: THE CASE OF GRUMMAN by Renso Caporali, Chairman and CEO, Grumman Corporation* s you are all well aware, we in the defense industry today have fallen on hard times. Our markets are shrinking, we’re faced with excess capacity, and there’s a good deal of debate, particularly among politicians, about what defense companies ought to be doing to respond to such an environment. There has been a lot of talk among people in our industry about changes in defense acquisition policy, and about the need for more cooperation between industry and government. There has also been much talk about new requirements in the Middle East and analysis of a number of potential new markets. But, as we assess the state of the industry and develop strategic plans for our companies, it seems that there is one important group that we may be overlooking—a group that has an absolute right to our attention. It’s not the government, it’s not the Department of Defense, it’s not NASA. It’s not the Navy, the Air Force, or the Army. It’s not our suppliers or our communities, it’s not http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Applied Corporate Finance Wiley

MANAGING FOR SHAREHOLDERS IN A SHRINKING INDUSTRY: THE CASE OF GRUMMAN

Journal of Applied Corporate Finance , Volume 6 (4) – Jan 1, 1994

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Publisher
Wiley
Copyright
Copyright © 1994 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1078-1196
eISSN
1745-6622
DOI
10.1111/j.1745-6622.1994.tb00248.x
Publisher site
See Article on Publisher Site

Abstract

by Renso Caporali, Chairman and CEO, Grumman Corporation MANAGING FOR SHAREHOLDERS IN A SHRINKING INDUSTRY: THE CASE OF GRUMMAN by Renso Caporali, Chairman and CEO, Grumman Corporation* s you are all well aware, we in the defense industry today have fallen on hard times. Our markets are shrinking, we’re faced with excess capacity, and there’s a good deal of debate, particularly among politicians, about what defense companies ought to be doing to respond to such an environment. There has been a lot of talk among people in our industry about changes in defense acquisition policy, and about the need for more cooperation between industry and government. There has also been much talk about new requirements in the Middle East and analysis of a number of potential new markets. But, as we assess the state of the industry and develop strategic plans for our companies, it seems that there is one important group that we may be overlooking—a group that has an absolute right to our attention. It’s not the government, it’s not the Department of Defense, it’s not NASA. It’s not the Navy, the Air Force, or the Army. It’s not our suppliers or our communities, it’s not

Journal

Journal of Applied Corporate FinanceWiley

Published: Jan 1, 1994

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