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Still more Bendix rumors

By most measurements, Bendix Chairman William Agee, 44, is the very model of a modern chief executive. During his four years at the helm, he has sold off less profitable operations, streamlined management and made several successful investments. More remarkably, Bendix has prospered despite the recession that afflicts two of its main businesses, automobile parts and machine tools. While competitors floundered in 1981, Bendix revenues for its fiscal year rose to $4.4 billion. Profits jumped 136% to $453 million.

Nonetheless, Agee has been bedeviled by unfavorable stories about his...

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