Plessey merger talks

BSR, the anti-union manufacturers of the Monarch record player, whose East Kilbride factory is locked in an eleven-week . strike over union recognition, are conducting merger talks with the giant Pléssey electronics combine.

Rumours that Plessey was about to bid for the whole of BR's share capital hit the Stock Exchange on Tuesday, pushing BSR shares to a peak of 7ls. 9d.—10s. 9d. above the price first thing on Tuesday morning.

Half the BSR share capital is in the hands of the firm's 64-year-old founder Dr Daniel McDonald whose shareholding is thought to be worth £22 million.

Before making overtures to Plessey Dr McDonald moved his residence to Switzerland and transferred his family holdings to Bermuda.

Important element As the 'Financial Times' puts it (Wednesday, October 29):

Although not an executive, it is Dr McDonald's strong anti-union feelings which have been an important element in the strike at the BSR factory in East Kilbride' Between them, the two companies dominate the whole of the home market for recora players.

BSR has about 50 per cent of the world markel15 per while cent or so.

Both companies export over 0 per cent of their output The Board of Trade hac not announced at the time of writing whether it would refer the proposed merger to the Monopolies Commission, but clearly the Stock Market does not rate this threat very highly.

Last year, Plessey made a record trading profit of £27.8 million.

this, shareholders got £6.84 million, and directors £230,000 - the managing director and his brother took home more than £119,000 between them-while the Plessey workers took home on average only £980 each. employment.

in the world.' of full employment.

Now this promise has been cast aside, to the applause of the bankers of Wall Street and the City of London.

So it all boils down to this. In 1964 to 1966, Labour, the Party standing for full employment, has become in 1969 the party standing for because it is in une the intere interest of the Nation.

Cynical claim And the so-called left' MPs, defended by the Communist Party and the 'Morning Star', take their turns on the election rostrum to justify this treachery and present a left cover for Wilson. This is the real face of betrayal.

With Labour having been forced to temporarily retreat on its anti-union laws its candidates were cynically claiming that they stood for the defence of the unions.

On the day before polling day Edward Heath, the Tory leader, to the applause of the Powellites, viciously attackec the trade unions and workers on strike.

He was immediately joined by Callaghan who went out of his way to single out the Midlands car workers who, through militant shop organizations, have driven up wage rates and fought back against short-time working and the threat of unemployment.

No doubt he was referring to the Cowley workers at Oxford when he spoke of : • PAGE A COL. 5 → Socialists