1954

Is my face red! In the April column I recounted the exploits of Peter Bullis and the "New Black Eagle Jazz Band." The only problem was that I didn't correct a type error that spelled Peter's name as Bullard instead of Bullis. My humble apologies, Pete. I know that everybody who read the write up on the"New Black Eagle Jazz Band" knew that it could only refer to you, our banjo impresario.

Jerry Goldstein informs us that TonyKane has a new career on the West Coast. Tony acquired all the outstanding stock of Univance Outplacement Consultants. He has served as president since August 1986. In an article on the purchase, Tony indicated that his primary goal would be to continue to build Univance so that it maintains its leadership position in the growing out placement industry "...in assisting individuals in dealing with the trauma of having lost their jobs and in learning the techniques of finding new positions..." Additionally, Univance will continue to expand its human resources division providing related services to client companies including morale building after downsizing, substance-abuse counseling, stress management programs, and other related services.

The corporate world is no place to be if you're not stout hearted. This spring, all the financial papers reported the continuing drama of the fight for IU International Corp., the chairman of which was JackChristy. After a two-month battle, Neoax succeeded in acquiring IU International, but not until Jack succeeded in obtaining 27 percent more for the stockholders than the original Neoax offer. Jack has been with IU since 1972 and has been chairman since 1982. He has been responsible for the aggressive strategy taken since that time to reduce lU's debt and create a more focused group of businesses. His success in accomplishing that goal made IU the attractive company that brought about the Neoax offer.

Also featured in the world of corporate mergers and takeovers is George Graboys's Citizens Financial Group of Providence, R.I. Citizens has accepted the Royal Bank of Scotland's offer to purchase Citizens, a highly profitable and successful bank which George, as chairman and chief executive officer, has led to new levels of achievement. With assets of $2.5 billion, Citizens is Rhode Island's fourth largest bank, specializes in asset-based lending, and has recently purchased mortgage originating and servicing firms in the South. In a commentary on the merger talks, a columnist from the Providence Journal spoke of the enlightened leadership that George has given the bank and the involvement and commitment to local charitable and civic organizations that Citizens has made over the years of George's stewardship. The commentary left no doubt about the community regard for George and the bank that he has led. Current information is that George will join the board of The Royal Bank of Scotland and will continue as chairman of Citizens. He will be responsible for further Royal Bank of Scotland acquisitions in the U.S.

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