DISCUSSION TOPIC - 2. Was there nepotism / cronyism going on at the time of take over by IR?

We know that E.B. Thompson and Bob Reid were the sons or relatives of prior Torrington Presidents, respectively Walter C. Thompson (1953-1959) and William R. Reid (1926-1946). Was E.B. a son or nephew?

When I joined the Company in the early sixties, E.B. sat in the front office, I believe as an Executive Vice President. I don’t know what his responsibilities or abilities were other than occupying the front office.

On the other hand, Bob Reid came up through the ranks, mainly in the Needle Division. Again, was he a good and astute business manager?

Could others comment who worked under him?

Bob Reid was part and parcel of the group that sold out to IR and ended up on the Board of Directors of Ingersoll-Rand, pretty good personal survival.

Seeing the demise of the Needle Division, it makes one wonder if he was a capable business man. Of course the faltering of needles did not begin with his tenure but could he have done something to reverse the direction?

We know he brought Ora Bailey along, a former cost accountant, shrewd with all the qualities of his Irish ancestry, who unfortunately passed away prematurely in office. Needles were up against world wide competition and as history shows, the Needle Division did not survive. Were we up to it, management wise?

Another player, although on a substantially more limited scale, was Walter St. Onge. His dad had been instrumental in rescuing the Company from its ventures with vacuum cleaners.

Were there any other, relatives, favorite sons, or cronies in the management? Is it your belief that the managers listed above were the best suited to their responsibilities?

Norm Massicotte