Turns in direction

Article Abstract:

James Scott's plan to retire from civil service and become self-employed fell through when he got appointed as executive director of Scottish Financial Enterprise (SFE) following the ouster of James Provan. Scott was called in to help SFE put its operations back in order. The new executive director seems most suited for the job given his long and distinguished career in civil service. One of the major challenges currently facing Scott is the elimination of the Enterprise's deficit of 40,000 pounds sterling. Scott's cost containment strategy has already led to the disposal of property, workforce reductions, the implementation of stringent internal economies, and the reduction of sponsored events. In the near future, Scott would like to see changes in the relationship between the SFE and the Scottish Enterprise. The new executive director is also hoping to see more inward investors in his country.

Appointments, resignations and dismissals, Government business enterprises, Public enterprises, Scott, James

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Quoting Jones

Article Abstract:

Merchant banker Quayle Munro is making preparations for its initial public offering. Although the move may surprise some sectors, the decision of the corporate-finance and development-capital house to go public is hardly atypical of most merchant banking arrangements. Quayle Munro has been making preparations for a reverse takeover of East of Scotland Industrial Investments (ESII), an investment trustit handles. The brains behind such an initiative is Ian Jones who is set to be the CEO of the expanded group. Jones, aware that his business is people-oriented, makes sure that any possibility of a hostile takeover is avoided. Moreover, he provides ESII shareholders the chance for an exit. The net asset of Quayle Munro is expected to double at 5.5 million pounds sterling after the offering.

DEPOSITORY INSTITUTIONS, Securities, Merchant banks, Jones, Ian, Quayle Munro

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Corporate Scotland takes over

Article Abstract:

Many experts felt that the recession in Scotland would lead to increased opportunities for corporate takeovers, but inexpensive acquisition opportunities have not arisen. The number of acquisitions involving Scottish investors increased in 1990, but the value of the deals was low. Companies that wish to remain independent must improve performance so that the cost of acquiring such companies will be too high. This commitment by top managers of Scottish corporations can help the companies to continue acquiring other firms to avoid being taken over by other firms.

Economic aspects, Mergers, acquisitions and divestments, Acquisitions and mergers, Scotland, Corporations, Recessions, Corporations, Scottish

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