MANAGEMENT: Open the Books

Labor relations had become so bad at the Niles-Bement-Pond Co. machine-tool plant in Hartford, Conn. that they could only change for the better. The company's president, Harvardman Charles Walton Deeds, 44, was good at making money (he ran a $40 stake in Pratt & Whitney Aircraft Co. into a $1,600,000 profit). But he was stiff-necked in his dealings with employees. The C.I.O. United Electrical, Radio and Machine Workers Union, which was heavily sprinkled with Communist leaders, was just as tough as President Deeds. Last year their mutual toughness resulted in a bitter...

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