Calling for Trouble
Article Abstract:
Teltronics was started in 1972 by a twenty-nine year old Edward Beagan, after a decision by the Supreme Court opened up the communications market. Teltronics started out selling private automatic exchanges (PABX's), and the company grew so rapidly that Teltronics found itself needing lots more cash. At this point Telefonaktiebolaget LM Ericsson, a Swedish telecommunications giant stepped in. It could get the cash, and so Teltronics began to exclusively distribute Ericsson products. For a while things worked out, but then Teltronics began to run into trouble and to get higher and higher in debt. Slowly the large Swedish company began to move in on Teltronics, trying to control the smaller firm. Relations between the two companies continued to deteriorate, fueled by an effort by the Swedish firm to buy a great deal of Teltronics stock. The failure of the stock deal to go through led to the bankruptcy of Teltronic's, and to a lawsuit in which Teltronics claims that Ericsson tried to take over Teltronics before it forced the company into bankruptcy. The lawsuit, after four years is still in court, and all the principal players are involved in other activities.
Publication Name: Inc.
Subject: Business, general
ISSN: 0162-8968
Year: 1984
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Someday Supplements
Article Abstract:
Ever since the Tax Equity and Fiscal Responsibility Act was passed in 1982 which contained provisions limiting the amount of money employers could set aside for employee retirement benefits, companies have been coming up with supplemental benefits plans. Supplemental benefits plans usually cover key personnel, and can provide options ranging from early retirement to partial salary upon disability or retirement in addition to the regular retirement benefits. These types of plans can help companies retain key personnel, but they do have some disadvantages. They are not tax deductible for the employer, and, if the company goes bankrupt, cannot be guaranteed to the employee. Companies wishing to institute supplemental benefits policies can either fund them themselves or let an insurance company handle the arrangements.
Publication Name: Inc.
Subject: Business, general
ISSN: 0162-8968
Year: 1984
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Foreign Affairs
Article Abstract:
Collecting delinquent accounts is difficult enough for most businesses, but when those overdue bills are to foreign companies or countries the task becomes even more difficult. When these delinquent accounts first begin to surface, a company has several choices. First they can try to recover the money themselves, through letters, phone calls, or personal visits. If this fails they should next decide whether to continue to pursue the account, or just to write it off. They may want to hire an outside agent, such as a lawyer, or a collection agency. But foreign accounts may be particularly hard to collect, and it may turn out that the best protection is to check the credit of the firm before doing business with them, and to determine what risk factor you are willing to accept in order to do foreign business.
Publication Name: Inc.
Subject: Business, general
ISSN: 0162-8968
Year: 1984
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