Time Clock: .GOOD MANAGEMENT-

When Is A Company Well Run?

AN impressive list of U.S. industries have recently found themselves in trouble. Proxy fights toppled the managements of the New York Central and New Haven railroads, stockholder complaints plagued American Woolen Co. and now a fight is shaping up for Montgomery Ward & Co. Some of these difficulties might have been averted by better stockholder relations; good management would have prevented even more. Most stockholders, if convinced their companies are well run, will support management.

When is a company well managed? At one time, the profit sheet at the end of the year was the only yardstick....

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