CORPORATIONS: Fairy Godmother Higgins

Burly, bump-ahead Andrew Jackson Higgins last week called three of the executives of the Appliance Division of Higgins Industries, Inc. into his office. Calmly he made them a present of the appliance business. While the three men listened with jaws ajar, Higgins dictated a letter to his secretary:

"We have chosen [to do this] . . . to show that management appreciates loyalty and efficiency by making you three gentlemen a present of that 'going section of our business,' the Appliance Division."

Skeptics wondered just what Andy Higgins vas up to now. They also wondered how much the business, which does not manufacture but only distributes appliances, was worth. Andy, who had threatened to close down his company a month ago after a union fight, put a figure of $100,000 on the Appliance Division. But the lucky three were not looking their gift horse in the mouth. Said former Division Manager, now company President J. O. Clary: "We were completely overwhelmed. I feel like Cinderella at Christmas time."