CORPORATIONS: Fairy Godmother Higgins

Burly, bump-ahead Andrew Jackson Higgins last week called three of the executives of the Appliance Division of Higgins Industries, Inc. into his office. Calmly he made them a present of the appliance business. While the three men listened with jaws ajar, Higgins dictated a letter to his secretary:

"We have chosen [to do this] . . . to show that management appreciates loyalty and efficiency by making you three gentlemen a present of that 'going section of our business,' the Appliance Division."

Skeptics wondered just what Andy Higgins vas up to now. They also wondered how much the business, which does...