The Lord Weinstock, (1924-2002)
Michael Rhodes
1963-96, since when Chairman Emeritus, died at his home in Wiltshire,
23 July, 2002, aged 77.
Arnold Weinstock was born 29 July, 1924. It was a humble beginning.
His father was a tailor in London's West End, and the family lived in
north London, where Arnold was sent to state schools.
His father died when he was five, and his mother when he was nine,
leaving the young Weinstock to be brought up by an older brother. He
went on to the London School of Economics, which moved to Cambridge
during the war, and he specialised in statistics. He worked in the
Admiralty and subsequently, thanks to a contact of his brother's, in a
Mayfair estate agency. It was there that he met his wife, Netta
Sobell, the daughter of the multi-millionaire Sir Michael Sobell,
(1892-1993), a pioneering force in British radio, TV, and electrical
goods industry, &c. Five years after the marriage Weinstock joined the
family business which, in 1960, merged with GEC.
In 1963 he became Managing Director, a post which he held for over 30
years. He embarked on a process of rationalizing the nation's
electrical industry. With two acquisitions - Associated Electrical
Industries and English Electric - he created GEC in its modern
incarnation.
By the end of the 1960s he was a legendary figure - "the first British
exemplar of the management revolution" according to one journalist -
who was both feared and adored.
He was embraced by both Harold Wilson and James Callaghan as a kind of
industrial saviour. In 1978 it was said by Professor William Gosling
that "without Sir Arnold and his company, Britain's balance of
payments would be unmanageable."
Weinstock was not enamoured of Margaret Thatcher or her Conservative
Government. He could not accept the Tory view of the collapse of
British manufacturing, and, by 1985, he was allied with Sir John
Harvey Jones, of ICI, in a powerful critique of government policy.
Weinstock was knighted in 1970, and made a life baron a decade later.
He was a Trustee of the British Museum, and the Royal Philarmonic
Society Foundation Fund - he was passionately musical - and a member
of the Jockey Club.
Lord Weinstock had an only son, Simon, born 24 February, 1952, a
director of GEC, and, like his father, an enthusiast of the Turf.
Father and son owned 37 horses. The pride and joy of the family was
the dual Derby and King George winner Troy, trained by Maj. Dick Hern,
although the filly Sun Princess completed the Oaks-St Leger double in
the family's famous colours.
In November, 1979, Queen Elizabeth the Queen Mother, Princess
Margaret, Princess Alexandra and the Hon Angus Ogilvy were present at
the reception at St James's Palace after the wedding of Weinstock's
son to Laura Legh, daughter of Major the Hon. Sir Francis Legh, former
assistant Private Secretary to the Queen Mother, and later Treasurer
to Princess Margaret.
Tragedy blighted Lord Weinstock's later years. His beloved son died
from cancer, 18 May, 1996, aged just 44.
The peer is survived by his wife, and by a daughter, the Hon. Susan
Gina Lacroix.
--
Michael Rhodes.
Louis Epstein
: The Lord Weinstock, Managing Director of the General Electric Co. plc,
: 1963-96, since when Chairman Emeritus, died at his home in Wiltshire,
: 23 July, 2002, aged 77.
I wish he'd bothered to serve as Chairman,even for one meeting,
before becoming Chairman Emeritus!
: Arnold Weinstock was born 29 July, 1924. It was a humble beginning.
: His father was a tailor in London's West End, and the family lived in
: north London, where Arnold was sent to state schools.
: His father died when he was five, and his mother when he was nine,
: leaving the young Weinstock to be brought up by an older brother. He
: went on to the London School of Economics, which moved to Cambridge
: during the war, and he specialised in statistics. He worked in the
: Admiralty and subsequently, thanks to a contact of his brother's, in a
: Mayfair estate agency. It was there that he met his wife, Netta
: Sobell, the daughter of the multi-millionaire Sir Michael Sobell,
: (1892-1993), a pioneering force in British radio, TV, and electrical
: goods industry, &c. Five years after the marriage Weinstock joined the
: family business which, in 1960, merged with GEC.
Sir Michael's longevity not being matched by either
his son-in-law or grandson.
: In 1963 he became Managing Director, a post which he held for over 30
: years. He embarked on a process of rationalizing the nation's
: electrical industry. With two acquisitions - Associated Electrical
: Industries and English Electric - he created GEC in its modern
: incarnation.
: By the end of the 1960s he was a legendary figure - "the first British
: exemplar of the management revolution" according to one journalist -
: who was both feared and adored.
: He was embraced by both Harold Wilson and James Callaghan as a kind of
: industrial saviour. In 1978 it was said by Professor William Gosling
: that "without Sir Arnold and his company, Britain's balance of
: payments would be unmanageable."
: Weinstock was not enamoured of Margaret Thatcher or her Conservative
: Government. He could not accept the Tory view of the collapse of
: British manufacturing, and, by 1985, he was allied with Sir John
: Harvey Jones, of ICI, in a powerful critique of government policy.
He took cast-off Thatcher ministers as Chairmen of GEC.
: Weinstock was knighted in 1970, and made a life baron a decade later.
: He was a Trustee of the British Museum, and the Royal Philarmonic
: Society Foundation Fund - he was passionately musical - and a member
: of the Jockey Club.
: Lord Weinstock had an only son, Simon, born 24 February, 1952, a
: director of GEC, and, like his father, an enthusiast of the Turf.
: Father and son owned 37 horses. The pride and joy of the family was
: the dual Derby and King George winner Troy, trained by Maj. Dick Hern,
: although the filly Sun Princess completed the Oaks-St Leger double in
: the family's famous colours.
: In November, 1979, Queen Elizabeth the Queen Mother, Princess
: Margaret, Princess Alexandra and the Hon Angus Ogilvy were present at
: the reception at St James's Palace after the wedding of Weinstock's
: son to Laura Legh, daughter of Major the Hon. Sir Francis Legh, former
: assistant Private Secretary to the Queen Mother, and later Treasurer
: to Princess Margaret.
: Tragedy blighted Lord Weinstock's later years. His beloved son died
: from cancer, 18 May, 1996, aged just 44.
: The peer is survived by his wife, and by a daughter, the Hon. Susan
: Gina Lacroix.
But only barely survived by the shreds of his company,
which he managed conservatively and his successors
plunged into debt...the Times obituary notes that the
shares,once 1250 pence,closed yesterday at four.
-=-=-
The World Trade Center towers MUST rise again,
at least as tall as before...or terror has triumphed.