****** - Verified Buyer
4.5
In the Introduction to this book, it is simply and briefly stated: "The St. Regis Paper Company sponsored the effort (book)." And then it goes on to name a lot of people who read the book before publication and provided "many substantive editorial comments. James F. Kussmann, vice-president of public affairs, was the company's gracious and patient liaison." So, we can conclude that there is nothing in this book that hasn't been approved by the Company. (Thus, we get very little about the industry's documented pollution creation.) And yet, the main impression I came away with is why would anybody bother to go into the paper making business? There appears to be little return for expenditure. The high cost of mill construction and labor, new product development research expenditures, the difficulty in obtaining raw materials from which the paper is made, plus water and air pollution controls are just a few of the obstacles to overcome. To make a go of the business, much of St. Regis' time and money was spent in acquisitions, first of power utilities and forested lands, then other paper companies to expand their product varieties and geographic locations, then the design and construction of packaging and paper making equipment. St. Regis was one of the largest corporations in the industry (the largest at one time), and became worldwide in scope. Very little is said about profits, but when they are mentioned, they are negligible for the size of the operation. For example, in 1967, St. Regis' holdings outside North America had "a book value of $26 million. St. Regis had at least 50 percent ownership in thirteen firms with sales that year an estimated $85 million." That works out to $5.6 million per plant. And from that we need to subtract millions in costs of operation leaving very little, if any, for profit. There are a handful of other net profit examples given, but when compared to investment to secure them, it hardly seems worthwhile. It is interesting to read of their sales strategies ("selling all the way through" and "the full wagon" were two of them and deserve a text book of their own) and the problems they tried to overcome with various corporate structures. From a little plant in Deferiet, New York opened in 1899 to a multi-national conglomerate 81 years later, this is a very complicated story. And that is the area in which the writers needed much more help. The book is very poorly edited. There is apparently no thought given to the flow of information provided. In one paragraph we could be reading about 1965, then immediately switch back to 1942, then to the mid `70s. The history of St. Regis would have been much more understandable if a chronological order had been followed in the telling; or, barring that, at least a geographical history, state-by-state and country-by-country. But as it is, it's a hodgepodge of information. Even a chart of the organization including its many subsidiaries would have helped. There are 27 pages containing 31 photographs, half of them head shots of Company executives that add little to the book beyond comparing hairstyles over the century. And the book is burdened by executive names with hundreds stuffed into the text. Not only the first and last names, but middle initials were deemed necessary. It's a difficult book to slog through. And when I was done I learned little beyond what I already knew from my family's association with the company as plant technicians. The only reason I can imagine anyone would buy/read this book is because, as a Company executive, their name is one of the hundreds included.
