Stockmall Industries
“John, I feel like resigning,” Paul DeMarco said, “even if I have been here only three months and just moved my family to this town.”
John Wilson, who had been the President of Stockmall Industries for eighteen months, replied, “Surely there is some way you and Churchill can work this problem out.” “I doubt it,” said DeMarco as he left Wilson’s office.
Mr.DeMarco, who had received his Registered Industrial Accountant (RIA) professional designation five years ago, and an MBA degree last year, had recently been hired by Mr. Wilson for the position of Controller. Mr. De Marco, aged 30, had previously worked for Mr. Wilson at another firm. Both were now employed by Stockmall Industries, a light manufacturing and assembly subsidiary of a British company in London, England. Stockmall Industries was located in a small town of about 10,000 people in a Maritime province.
Mr. Alec Churchill, the financial director, was 66 years old, and had emigrated to Canada from England thirty-five years ago. After working for a bank for a few years he joined one of the bank’s customers – Stockmall Industries – as the financial manager. His younger brother, Sir Arthur Churchill, had become a well known industrialist in England. Seventeen years ago, at Alec’s recommendation, Sir Arthur’s mini-conglomerate purchased controlling interest of Stockmall Industries. The original founder, Jonas Stockmall, remained as president until Mr. Wilson joined the company. Mr. Stockmall and both Churchill brothers agreed on Mr. Wilson’s selection. Alec Churchill did not want the job, as he was getting on in years and wanted to cut back on his workload, though he had no immediate plans for retiremen ...