CORPORATIONS: The Problems of Westinghouse

Said a top Chicago retailer: "The trouble with Westinghouse is that it isn't anywhere near aggressive enough. It's not on the ball." Last week there were plenty of signs that Westinghouse, the 13th-biggest U.S. corporation, was not on the ball. In a year when most big corporations were reporting record earnings, Westinghouse sales were down 7% in the first six months and profits down a big 35% (Chief competitor General Electric had 5% sales rise in the first six months and a 9% profit increase.) For the third quarter, Westinghouse profits were...