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RCA STATUS DISCUSSED
Writing in "The National Whirligig", a syndicated news¬ paper letter issued by the McClure Newspaper Syndicate, of New York, James McMullin writes:
"The divorce of Radio Corporation of America from General Electric and Westinghouse was not exactly crammed down unwilling throats by the Government, With the notable excep¬ tion of Owen Young most directors of the two big electric com¬ panies were glad enough to divest themselves of an unprofitable associate. Also considering RCA's condition and prospectsthey may have saved themselves some future embarrassment.
"Stranger things could happen than for Owen Young to relinquish his headship of General Electric and become a master of RCA’s destinies. RCA was his own pet and pride. This would not necessarily mean severance of all connections with GE but his future status might be that of general counsel for the company.
"The political implications should not be overlooked. The GE RCA situation provides first rate window dressing for the possible drafting of Mr. Young into a very important posi¬ tion in the Roosevelt Administration.
"The relationship between General Electric and West¬ inghouse is interesting. There is a saying current on the inside that Westinghouse makes the scientific progress but General Electric makes the money. It is a fact that West¬ inghouse has had first claim on every important electrical pa¬ tent of recent years except for the Mazda lamp but General Electric has shown considerably greater profits from these same inventions. "
In a confidential (not for publication) note to Editors, Richard H. Waldo, president of the syndicate, adds:
"RCA recently considered going into receivership as a method of getting out of its expensive lease in the new Radio City. This is one reason why General Electric and Westinghouse were glad to get out of the picture.
"It is not likely that this projected receivership will be carried into effect in the near future byt RCA's af¬ fairs are in such shape that this cannot be disregarded as a possible future contingency.
"Several important directors of GE would hardly burst into tears if Owen Young did resign as head of the company, either to become a government officer or to take charge of RCA. Young's business idealism has clashed on several occa¬ sions in the past few yea.rs with strictly commercial ideas of other members of the management of the group.
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