Living in the shadow of Goliath
Article Abstract:
Invergordon Distillers Group PLC's successful campaign to ward off a hostile takeover bid launched by the US-controlled Whyte & Mackay won the small Scottish company much respect within the scotch whisky industry. The takeover bid, launched just three months after a disappointing May 1991 flotation that resulted in a 135p per share listing, failed largely because Whyte & Mackay was unable to convince institutional investors that its final 275p per share offer reflected Invergordon's true value. Invergordon Finance Dir Edward Pickard notes that it was not so much the bid price, but rather the offensive manner with which Whyte & Mackay conducted its bid that led to the decision to fight the takeover. As Pickard notes, it was Whyte & Mackay's insinuations of mismanagement that proved to be the rallying point against the takeover since it alienated many of the directors and employees who had earlier invested in Invergordon's 1988 management buyout.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
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But is it art?
Article Abstract:
A growing number of UK companies are displaying various forms of art in their offices. Many are beginning to realize that carefully thought-out corporate art and well-designed offices can have a considerable impact on corporate image and employee well-being. BUPA is one company that believes in the importance of art in the workplace. Before it moved to a new head office in central London, it had commissioned an architectural firm to completely refurbish the 1920s building. It had also asked the Contemporary Arts Society Projects to select art pieces for the new headquarters. One hundred thirty-five pieces were eventually selected, including paintings, prints, photographs, wall hangings, sculptures and ceramics. The artfully designed cafeteria and coffee lounge turned out to be particularly popular among employees, encouraging them to stay indoors instead of eating out and to use the place for informal meetings.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1997
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A welcome on the hillside
Article Abstract:
Wales has successfully cultivated a high-technology industry. The influx of foreign electronics companies to the principality is credited for rejuvenating its economy, which in the past was dependent on the coal and oil-driven sectors. The per capita GDP is only 83% of the overall UK average and unemployment is 7%, which makes attracting new industries all the more critical. The Welsh Development Agency (WDA) has been meeting this goal since its establishment in 1976. It has already enticed foreign capital amounting to 11 billion pounds sterling to Wales and contributed to the creation or protection of 160,000 jobs. The WDA engages in active promotion in other countries and takes advantage of incentives offered by the European Commission. It also offers grants, training subsidies and construction funds to foreign investors. WDA is now turning its attention to rural areas and the West to revive these regions.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1999
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