G'day Stelth,
Albert Baer is quoted in March 3rd 1981 in his memoirs which were written but never published for Readers Digest...........
'Let me set the record straight about a few things. First England.The reason we made an investment in England was because of Felix Mirando Jr.repeatedly said I was running IKAC business in an old fashioned way and he wanted to show he could run it in a modern way.He approached me with the concept that "if he could find someone who could run England,would I be willing to buy the Richards stock that was listed on the London Stock Exchange.
'Feeling this was an opportunity to show whether or not he was correct,agreed.Although we raised our offer 2 or 3 times without knowing what we were buying except from Stock Exchange figures and Warburg's figures, I agreed to proceed in order to prove or disprove the point.
The first member of Imperial to recognize that we had made a mistake in purchasing the facilities was Nicky Fazzano who was appalled at what he saw and tried to make it clear to all of us upon his return from his visit to the factory in England.Even though most of our Principals including Felix,Sr went to England many times and looked at the factory it was not until Henry Fazzano and I visited the Plant in 1977 and saw what a nightmare...people sitting and doing nothing,playing soccer in the aisles,and when we asked Mitchell who was then Manager why,we were told because they didnt have any orders.'
Although much effort was put in to correcting losses in Germany ,Ireland, and England by 1981 he stated "the English loss might be $6,400,000"...
Stelth, at this point if you were Albert would you have kept the I*XL plant going??...The Schrade I*XL knives have stood the test of time and I believe were quality made <Camillus made some skeletons for them> it would appear unless Albert was able to personally supervise 'hands on' it would never be successful..<would you like to have passed a soccer ball to Albert in the Factory while he was there!!??! I'm sure he would have followed the English penchant for removing heads>...much chequered history was to follow the Sheffield Plant with various owners in the following years..none being successful.......Hoo Roo