actually I was raised here, but I left to go to college and after I graduated I settled in Wooster Square. I come back occasionally to visit with my mother.”
“Will you be staying at her house?’
“No! Your personnel people set me up at the Belmonte. I’ll be staying there. By the way, please call me Kane.”
“You’ll find that it’s still a very charming town, Mister Masterson. I hope your stay will be pleasant.” She spoke with a smile on her face, but the “Mister Masterson” told him that his dealings with Marcia Bloom would be on her terms.
“I certainly hope so.”
“Now let’s get down to business. We’ve got a lot to cover. Have you had a chance to review the organization charts Mister Hampton gave you?”
“Of course, I have them right here.” He opened his leather attaché case and removed a folder. “Which of the two do you want to cover first?”
“We’ll start with our flagship company, Hampton Sportswear. The plan is to fully assimilate Preston’s Elegant Sportswear brand, which means that Preston’s plants, marketing, finance and design departments must be examined to determine which sections can be cut and which will be transferred to Hampton. I understand that Elegant’s vice-president has decided not to make the move to Hampton and has already left the company. That will make our staffing decisions a lot easier. Are you with me so far?”
“Absolutely. I would recommend that we start with plant and equipment. Elegant has been modernizing their equipment and processes for the past three years. Their research and development budget has produced some solid results. They have the fastest most productive machines in the industry. They are also testing some revolutionary concepts that will turn garment making on its ear. I checked and the rights to this technology are fully transferable to Hampton.”
Hampton Sportswear and Elegant Sportswear were listed under the Industrial Classification, Textile Goods and while both are in the garment business, they supply entirely different markets.
Elegant Sportswear manufactures garments for the high end of the market. They produce all of their clothing at a plant complex in New Haven, Connecticut. They export forty percent of their goods to European and Asian Markets.
Hampton Sportswear caters to the broad consumer market, distributing mostly through discount stores. They import sixty percent of their clothes from Asian countries and export goods mainly to Mexico, Canada and South America.
Preston Industries had been founded in 1892 by Jonathon Preston. His initial venture into the textile industry began with the testing of revolutionary looms invented by friend. He rented an abandoned pottery factory in New Haven, installing two of the vertical reciprocating looms. For the first two years he only manufactured and sold cloth by the bolt. He experimented with new patterns and variations of designs that were the rage in Europe. His designs gained popularity with garment manufacturers, especially producers of sports clothes. Not being one to let an opportunity slip by, Jonathon expanded his operation and soon Preston Industries became a major player in the garment making business. Jonathon incorporated the business in 1917 under the Preston Industries banner. The name Elegant Sportswear was born three years later, out of necessity, when a small toiletry company and a leather goods manufacturer were added to the mix and the three companies became operating divisions. As a corporation Preston Industries survived several wars and the great depression. Shareholders that rode the tumultuous years and cycles of taste and style were richly rewarded. Since its inception, Preston had only seven unprofitable years. Dividends, which were first paid in1925, have been paid every year since then, although during the seven unprofitable years they were significantly reduced. The company’s stock suffered when conglomerates went out of favor and it
“Will you be staying at her house?’
“No! Your personnel people set me up at the Belmonte. I’ll be staying there. By the way, please call me Kane.”
“You’ll find that it’s still a very charming town, Mister Masterson. I hope your stay will be pleasant.” She spoke with a smile on her face, but the “Mister Masterson” told him that his dealings with Marcia Bloom would be on her terms.
“I certainly hope so.”
“Now let’s get down to business. We’ve got a lot to cover. Have you had a chance to review the organization charts Mister Hampton gave you?”
“Of course, I have them right here.” He opened his leather attaché case and removed a folder. “Which of the two do you want to cover first?”
“We’ll start with our flagship company, Hampton Sportswear. The plan is to fully assimilate Preston’s Elegant Sportswear brand, which means that Preston’s plants, marketing, finance and design departments must be examined to determine which sections can be cut and which will be transferred to Hampton. I understand that Elegant’s vice-president has decided not to make the move to Hampton and has already left the company. That will make our staffing decisions a lot easier. Are you with me so far?”
“Absolutely. I would recommend that we start with plant and equipment. Elegant has been modernizing their equipment and processes for the past three years. Their research and development budget has produced some solid results. They have the fastest most productive machines in the industry. They are also testing some revolutionary concepts that will turn garment making on its ear. I checked and the rights to this technology are fully transferable to Hampton.”
Hampton Sportswear and Elegant Sportswear were listed under the Industrial Classification, Textile Goods and while both are in the garment business, they supply entirely different markets.
Elegant Sportswear manufactures garments for the high end of the market. They produce all of their clothing at a plant complex in New Haven, Connecticut. They export forty percent of their goods to European and Asian Markets.
Hampton Sportswear caters to the broad consumer market, distributing mostly through discount stores. They import sixty percent of their clothes from Asian countries and export goods mainly to Mexico, Canada and South America.
Preston Industries had been founded in 1892 by Jonathon Preston. His initial venture into the textile industry began with the testing of revolutionary looms invented by friend. He rented an abandoned pottery factory in New Haven, installing two of the vertical reciprocating looms. For the first two years he only manufactured and sold cloth by the bolt. He experimented with new patterns and variations of designs that were the rage in Europe. His designs gained popularity with garment manufacturers, especially producers of sports clothes. Not being one to let an opportunity slip by, Jonathon expanded his operation and soon Preston Industries became a major player in the garment making business. Jonathon incorporated the business in 1917 under the Preston Industries banner. The name Elegant Sportswear was born three years later, out of necessity, when a small toiletry company and a leather goods manufacturer were added to the mix and the three companies became operating divisions. As a corporation Preston Industries survived several wars and the great depression. Shareholders that rode the tumultuous years and cycles of taste and style were richly rewarded. Since its inception, Preston had only seven unprofitable years. Dividends, which were first paid in1925, have been paid every year since then, although during the seven unprofitable years they were significantly reduced. The company’s stock suffered when conglomerates went out of favor and it
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