Theater: Watered Stock

Calculated Risk, by Joseph Hayes, tells of an old-line New England textile company facing a takeover threat from a corporate raider. At first, the play promises to be a Marquandian confrontation between people who possess character and those who merely flash credentials. It also promises to contrast an older type of businessman who manufactured a product of quality and backed it with his name, and a newer type of paper manipulator who merely juggles figures and jiggles stock with irresponsible anonymity. Unfortunately, these promises are not kept. What evolves is a faint melodramatic...

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