CORPORATIONS: Trouble at Jahco

From Jack & Heintz Precision Industries, Inc., peacetime version of Cleveland's famed war baby, President William S. Jack departed last week on a year's "leave of absence." But few Clevelanders expected that Bill Jack would ever come back to Jahco. Reason: Jahco's new owners were not sold on his unorthodox employe coddling.

When blatant Bill Jack and his quiet partner Ralph M. Heintz peddled their war baby last spring to Manhattan engineer B. C. Milner Jr. and Byron C. Foy, onetime vice president of Chrysler Corp., they got 1) roughly $8 million in cash and stock, 2) five-year contracts...

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