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[[red underline]] like this to convert its Bakelite stock in [[strikethrough]] mo [[/strikethrough]] securities which can be sold in the open market as listed shares. [[/red underline]] In this like in many other matters he proposed before; he first looks at his own advantages. - Later on in a private [[strikethrough]] corporate [[/strikethrough]] conversation with me he told me that there was a feeling of restlessness amongst the employes that we might sell out to some one. I told him there was no reason for this and that [[red underline]] except he [[/red underline]] and [[red underline]] the other directors nobody [[/red underline]] ever heard or knew [[red underline]] about our talks [[/red underline]] with [[red underline]] Union Carbide and that I [[/red underline]] had told all of them [[red underline]] that the negotiations were off. [[/red underline]] Karpen also told me I was too lenient in letting each department have too much their own way. I told him this was true in relation
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[[red underline]] to Research, and I take the blame for it. [[/red underline]] On the other hand [[red underline]] all our men including George Baekeland, during our years of prosperity had absolutely lost the sense of proportions as to money value and that I had had considerably trouble in killing [[/red underline]] early [[red underline]] money ventures.[[/red underline]] That nevertheless, they had incurred many others and [[red underline]] that I had repeatedly had all of them opposed to me [[/red underline]] whenever I recommended caution and [[red underline]] not increasing expenses.[[/red underline]] That [[red underline]] my position against them placed me in a rather awkward situation as the stockholder who received the largest dividends from the concern, exhibiting himself as a "piker" when it came to expenditures of a few hundred Dollars or a million at the [[/red underline]] time, - which sums they looked