January 21, 1958 MR. JONSSON AND MEMBERS OF THE AMERICAN MANAGEMENT ASSOCIATION: At the outset I would like to express to you my very keen appreciation of the privilege of "being with you today and of having the opportunity to participate in this general management conference. The American Management Association continues to contribute significantly to the advancement of the profession of management. The organization merits our esteem and deserves our support, and your presence here today is testimony that you share this view. A word or two of explanation is in order as to my role in the four-day program that has been prepared for you. Naturally a great deal of thought goes into the preparation of these programs. The subjects are carefully selected for their broad appeal and the tone and the tempo accelerate steadily until the closing sessions when appropriately selected speakers will deal with such stimulating subjects as "The Effective Functioning of the Board of Directors", and a "Management Code of Ethics". However, to give the program initially the common touch, what could be more suitable than the subject "Handling Present Financial Needs of the Pretty Good Company" and a speaker of comparable quality. The program announcement elaborates on the subject without softening the blow. It hints that the field to be covered is those companies smaller than the outstandingly large and successful company with no real problem but above the level of the company so poor that it is without financial hope - - in short, companies of the lower middle class. In general, I am willing to