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ARTHUR E. SMITH has been appointed chairman of United Aircraft on the retirement of William P. Gwinn, and HARRY J. GRAY to be chief executive officer. EDWARD L. HENNESY Jr has been appointed senior vice‐president, finance and administration.

Throughout history, technology has been the driving force behind progress in almost every sphere of endeavor. This is no less true today. Emerging technologies once again, as in the past, are bringing fundamental changes that are transforming our society. But are these changes revolutionary?

I know it's traditional to begin a speech with a joke. But I'd like to forego that tonight because my topic is no laughing matter—it's a challenge facing all American business — large and small — and that challenge is coming from the large, foreign, government‐backed enterprises that are beginning to dominate the world market place.

A radically new jet engine, the PW4000, designed to save airlines hundreds of millions of dollars a year in fuel and maintenance costs, will be developed by United Technologies' Pratt & Whitney Group, the company said recently.

In the competitive environment of the 1980s, business and technological innovation must be more closely linked than ever before. The author examines the reasons why and explores some ways to ensure closer coordination.

Argues that hostile takeovers cannot be morally justified on grounds which involve valuations sanctioned by prevalent interpretations of The Efficient Market Hypothesis. Demonstrates that such “valuations” are morally inadmissible on account of their “circularity”. Recommends a case‐by‐case approach by way of conclusion.

BRIAN TRUBSHAW and ANDRE TURCAT, chief British and French test pilots on the British Aircraft Corporation/Aerospatiale Concorde supersonic airliner programme, have received the Iven C. Kincheloe award for the year's most outstanding feats in test flying.

Michael S. Ridout, Managing Director of Uxbridge‐based Auto Diesels Braby Limited, has been appointed a Director of Braby Leslie Limited, the parent company of Auto Diesels. Braby Leslie Limited are a publicly quoted company and have ten principal operating companies—including Auto Diesels—throughout the UK in the Mechanical and Civil Engineering Fields.

THAT is the title of a survey by the National Joint Advisory Council which has just been issued by the Ministry of Labour. Properly assimilated by both sides of industry it could become an important document for a country continually under pressure to increase productivity. In his Foreword the Minister of Labour says that the number of manual workers engaged on a shift system has increased by more than half in the last ten years and expects the trend to continue.

According to John Grant’s New Marketing Manifesto, contemporary consumers “act their shoe size not their age” by resolutely refusing to grow up. They are not alone. Managers too are adopting a kiddy imperative, as the profusion of primers predicated on children’s literature – and storytelling generally – bears witness. Winnie the Pooh, the Wizard of Oz, Alice in Wonderland and Hans Christian Andersen are the marketing gurus du jour, or so it seems. This paper adds to the juvenile agenda by examining the Harry Potter books, all four of which are replete with references to market‐place phenomena, and contending that scholarly sustenance can be drawn from J.K. Rowling’s remarkable, if ambivalent, marketing imagination.