Page 142 - The Way to the Top

Alfred T. MOCKETT

Chairman and CEO of AMS

In 1984, I flew from Tulsa to Boston, Massachusetts, on behalf of the
Telex Corporation to bid for the assets of Raytheon Data Systems, a
discontinued operation of the Raytheon Company. In the fray with fifteen

would-be contenders, I raced to Lexington with our offer. The then-
Chairman, Tom Phillips, stepped out of a Board meeting. I gave him the
sealed manila envelope containing our bid. He didn’t open it; instead,
placing it on the table between us, he turned to me and said, “Tell me, Mr.

Mockett, what are you going to do for my customers and what are you
going to do for my people? For if you can take care of my customers and
can take care of my people, the numbers will take care of themselves”—
and they did. We were the successful bidder and the acquisition played out

extremely well.

I’ve spent the nearly twenty years since these words were spoken
embroiled in the corporate wars, having been on every side of every
possible business combination or disaggregation. Those words of Tom
Phillips have served me well as the first question to ask before

undertaking any M&A activity.

As a postscript, I returned to Tulsa triumphant with the deal in hand. My
chairman, the crusty son of a Greek immigrant, turned to me and said,
“Well, Mockett, you bought it, now you damn well go run it!” If more

chairmen were to adopt this approach, there would be far fewer mergers
and acquisitions in this world.

Take care of the people and the numbers will take care of

themselves