DISCUSSION TOPIC - 5. Bennett vs O'Connell

We see Ray O’Connell after his WWII years teaching at the Naval Academy at Annapolis, spending a lifetime at Torrington, being instrumental in the sell-out to IR and serving his last seven years as President, being summarily replaced by Tom Bennett in 1981. Bennett would end up heading Torrington for the next ten years (1981- 1991).

I need help here comparing or assessing the performance of each. I retired from Torrington in 1987 and to this day receive a small pension and health insurance coverage having been grand fathered under some old defined plans after serving there close to 25 years. I missed out on the last years of Bennett’s reign at Torrington and those of subsequent leaders. Therefore, your input is requested.

I do know, in contrast to O’Connell, Bennett had absolutely no knowledge of the bearings business when he started. His education was in marine engineering and background in the manufacture of heavy equipment, IR products, with long lead times, manufactured a few at a time. Torrington’s products, on the other hand, were small, of high volume, quite intricate and produced with very short lead times.

There is an axiom that says you don’t have to know anything about what you are managing as long as you are a good manager. If you believe that, then Torrington didn’t skip a beat taking Bennett on board. I personally feel Torrington lost a lot of knowledge and experience when it lost O’Connell.

To solve his problem, Bennett hired and relied on consultants, spending millions of dollars for their advice. What is the general feeling for the role of consultants in a corporate atmosphere ? Did we get our money’s worth? Did they turn us on to things that we wouldn’t have come across on our own? Were there long term benefits to Torrington of having Bennett and of having consultants?

Aren’t consultants simply management’s self righteous hedge to responsibility?

As we ponder these points, let us not forget that Torrington no longer exists as a separate entity. Something went wrong. Do you agree?