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"Remember how quick they were to grant us a responsible voice in management? Well, now they want us to help raise the money to stave off bankruptcy."
"Remember how quick they were to grant us a responsible voice in management? Well, now they want us to help raise the money to stave off bankruptcy."

"Remember how quick they were to grant us a responsible voice in management? Well, now they want us to help raise the money to stave off bankruptcy."

Artist (American, 1900 - 1974)
Date1971
ClassificationsCartoon
Mediumcrayon ink
DimensionsObject: 10 13/16 × 11 3/4 in. (27.4 × 29.9 cm) Sheet: 10 13/16 × 11 3/4 in. (27.4 × 29.9 cm)
Credit LineMary Petty and Alan Dunn Bequest
Object number1979.1993
"We've really "emerged"! Now they want us to help them with their deficit balance of payments."
"We've really "emerged"! Now they want us to help them with their deficit balance of payments."
Alan Dunn
1962
"Now look - International has a net quick of $15 per share. Its market price is $10, book is $36.65. Our net quick is $8; our book is$22, and at market we are selling for $25. So to start with we offer them one share of ours for two of theirs. That's five bucks premium. Can they turn it down? So they turn it down. Then we say, O.K., we'll buy the assets. We'll give you $1 million for your plant, which stands at $3,900,000 net. That wipes out all the water, gives them a fine tax carry-back. Then we give them 80 per cent of net inventory and accounts receivable - that's another $4 million. Another nice tax loss for them. So we pay 'em $5 million. There's nothing complicated about this except - say, where do we get the turn-around money"
"Now look - International has a net quick of $15 per share. Its market price is $10, book is $36.65. Our net quick is $8; our book is$22, and at market we are selling for $25. So to start with we offer them one share of ours for two of theirs. That's five bucks premium. Can they turn it down? So they turn it down. Then we say, O.K., we'll buy the assets. We'll give you $1 million for your plant, which stands at $3,900,000 net. That wipes out all the water, gives them a fine tax carry-back. Then we give them 80 per cent of net inventory and accounts receivable - that's another $4 million. Another nice tax loss for them. So we pay 'em $5 million. There's nothing complicated about this except - say, where do we get the turn-around money"
Alan Dunn
1954
"They agree to turn over control of the university to us, but there's an "if" to it. We have to grant the administration the same right to sit in, protest, and dissent that they granted us!"
"They agree to turn over control of the university to us, but there's an "if" to it. We have to grant the administration the same right to sit in, protest, and dissent that they granted us!"
Alan Dunn
1968
"Well, we're back. We zoomed like hell through Provence, but the dollar caught up with us at Marseilles."
"Well, we're back. We zoomed like hell through Provence, but the dollar caught up with us at Marseilles."
Alan Dunn
1973
"Darling, the Prefab Homes man was just here and he wants us to turn this in for a 1937 model. He says he'll allow us $1200."
"Darling, the Prefab Homes man was just here and he wants us to turn this in for a 1937 model. He says he'll allow us $1200."
Alan Dunn
1937
"The most common reason for a raider's success is management's unwillingness to put real time and money into the fight."
"The most common reason for a raider's success is management's unwillingness to put real time and money into the fight."
Alan Dunn
1955
"Say, how about us having sort of an office party?"
"Say, how about us having sort of an office party?"
Alan Dunn
1950
"The union has just about agreed to a settlement on the basis of the N.L.R.B. formula, but a hitch has developed - they want us to pay for their ads in the "Times".
"The union has just about agreed to a settlement on the basis of the N.L.R.B. formula, but a hitch has developed - they want us to pay for their ads in the "Times".
Alan Dunn
1950
"He'll sell us the car for six hundred dollars, but he wants twelve hundred dollars for the furniture."
"He'll sell us the car for six hundred dollars, but he wants twelve hundred dollars for the furniture."
Alan Dunn
1946
"Now, it's understood that this doesn't obligate us in any way?"
"Now, it's understood that this doesn't obligate us in any way?"
Alan Dunn
1957
"We hate to mix business with pleasure, Mr. Steen, but how do you feel about giving us that order for 50,000 (indeciferable)?"
"We hate to mix business with pleasure, Mr. Steen, but how do you feel about giving us that order for 50,000 (indeciferable)?"
Alan Dunn
1927
"I repeat - I love everybody! And it is because of that great love that I am angered by the evil forces among us. Those who stand in our dedicated way are our enemies and must be exterminated! Who isn't for us is against us!"
"I repeat - I love everybody! And it is because of that great love that I am angered by the evil forces among us. Those who stand in our dedicated way are our enemies and must be exterminated! Who isn't for us is against us!"
Alan Dunn
1960