Post by Diarist on Jan 8, 2017 23:50:40 GMT 1
I was at the bank early this morning because I wanted to do some business first. That's why I asked for some key people from Vickers also to be there. Basil Liddel-Hart was also there early and was in conversation with my father, Edward Jr., so I joined them. "So why this mysterious meeting on the last day of the year, Bob?"
"It's been a good year so I thought I would finish it in style. I have some business for you and some business propositions too. I'd like to create a Trust fund for my few employees."
"To do what?" Dad asked.
"A non-contributory pension, university fees for their children, i.e. to make working for my firm a little more attractive."
"You are becoming the competition, Bob."
"I disagree and I'll explain why at the meeting. Basil have you met Major Reginald Shepperd, retired?"
"You were at ROF Woolwich?"
"Yes, I was. We were never introduced."
"One of my employees, Basil. Reginald, this young man is my father Edward Mitchell, Jr., the President of London and Midlands Bank."
"Also the Managing Director of Morgan Mitchell Investment Bank for Europe, Middle East and Africa."
"This is where money grows, Reginald and we are harvesters."
"We'll see about that."
When the Vickers-Armstrongs meeting was convened Edward announced that I had requested this meeting and gave the word to me. I clarified my role within the firm due to me not only being in the military but also a cabinet member of our government. "I have restrictions but I have also been given a waver in certain areas by my boss Secretary Churchill on a case by case basis. Within this framework I have given you information which has benefited our firm. I have also supported you at the MoD and you have benefited there too. In September I served in East and North Africa and noticed deficiencies in our equipment. One of my duties as minister is Force Readiness and I have again noticed glaring deficiencies. I know what the military doesn't have but needs and also know what our industry isn't producing to meet those needs conversely what it is producing that we don't need.
In September I started a new firm to design products to meet these needs. My first project was to provide our infantry with a Squad Assault Weapon. In the Royal Parachute Regiment the infantry are armed with the Thompson submachine gun." I placed one on the table. "An excellent weapon of US design. Properly employed a squad armed with this weapon will make the enemy believe they are up against a platoon-sized unit. The big problem with the Thompson is its cost. At $250 a piece it is simply too expensive. So we designed an alternative, et voilà." Then placed our SMG on the table. "We don't have a name for it yet and it isn't as effective as the Thompson. Less effective range for example, but it costs less than £3 a piece. It would be even cheaper if the wood were replaced. We are offering it to Vickers, you have first refusal, to produce it under license for 3 shillings per gun. I would like to add that Winston Churchill loves it. Could we demonstrate it at your firing range next week, Basil?" Reginald gave the Vickers people design information.
"Can we talk about the license fee?" Dad asked.
"No, because the money goes to our Trust and will finance other projects. Vickers will have first-refusal for those products too. One could argue that we've become a Vickers design team. You need to offer it to the US military. I'm sure it'll be a winner across the pond too. I might also add that we have an agreement with the US to produce items off-the-shelf rather than have our countries design their own versions. It saves R&D costs and time."
"It is a very innovative design and my team tells me that it will be easy to produce. We want to see it at the range first but we should accept the deal."
"Thank you, Basil. We'll decide next week then. Anything else, Bob?"
"Have you heard from John?"
"He sent a telegram yesterday and is doing fine." John has taken my cabin on the Franconia to New York. I took Basil to one side and thanked him for his support. I also asked if my firm could contract Vickers to produce a few bits and pieces for us. We foot the bill and no questions asked."
"But we still get first refusal?"
"That goes without saying. We may ask you to refuse an item because of something else in the pipeline arriving later."
"Understood. Which day next week for the firing range?"
"I'll call you before Friday because Winston wants to be there. I also want to invite a squad from the para regt. But now let's party."
"It's been a good year so I thought I would finish it in style. I have some business for you and some business propositions too. I'd like to create a Trust fund for my few employees."
"To do what?" Dad asked.
"A non-contributory pension, university fees for their children, i.e. to make working for my firm a little more attractive."
"You are becoming the competition, Bob."
"I disagree and I'll explain why at the meeting. Basil have you met Major Reginald Shepperd, retired?"
"You were at ROF Woolwich?"
"Yes, I was. We were never introduced."
"One of my employees, Basil. Reginald, this young man is my father Edward Mitchell, Jr., the President of London and Midlands Bank."
"Also the Managing Director of Morgan Mitchell Investment Bank for Europe, Middle East and Africa."
"This is where money grows, Reginald and we are harvesters."
"We'll see about that."
When the Vickers-Armstrongs meeting was convened Edward announced that I had requested this meeting and gave the word to me. I clarified my role within the firm due to me not only being in the military but also a cabinet member of our government. "I have restrictions but I have also been given a waver in certain areas by my boss Secretary Churchill on a case by case basis. Within this framework I have given you information which has benefited our firm. I have also supported you at the MoD and you have benefited there too. In September I served in East and North Africa and noticed deficiencies in our equipment. One of my duties as minister is Force Readiness and I have again noticed glaring deficiencies. I know what the military doesn't have but needs and also know what our industry isn't producing to meet those needs conversely what it is producing that we don't need.
In September I started a new firm to design products to meet these needs. My first project was to provide our infantry with a Squad Assault Weapon. In the Royal Parachute Regiment the infantry are armed with the Thompson submachine gun." I placed one on the table. "An excellent weapon of US design. Properly employed a squad armed with this weapon will make the enemy believe they are up against a platoon-sized unit. The big problem with the Thompson is its cost. At $250 a piece it is simply too expensive. So we designed an alternative, et voilà." Then placed our SMG on the table. "We don't have a name for it yet and it isn't as effective as the Thompson. Less effective range for example, but it costs less than £3 a piece. It would be even cheaper if the wood were replaced. We are offering it to Vickers, you have first refusal, to produce it under license for 3 shillings per gun. I would like to add that Winston Churchill loves it. Could we demonstrate it at your firing range next week, Basil?" Reginald gave the Vickers people design information.
"Can we talk about the license fee?" Dad asked.
"No, because the money goes to our Trust and will finance other projects. Vickers will have first-refusal for those products too. One could argue that we've become a Vickers design team. You need to offer it to the US military. I'm sure it'll be a winner across the pond too. I might also add that we have an agreement with the US to produce items off-the-shelf rather than have our countries design their own versions. It saves R&D costs and time."
"It is a very innovative design and my team tells me that it will be easy to produce. We want to see it at the range first but we should accept the deal."
"Thank you, Basil. We'll decide next week then. Anything else, Bob?"
"Have you heard from John?"
"He sent a telegram yesterday and is doing fine." John has taken my cabin on the Franconia to New York. I took Basil to one side and thanked him for his support. I also asked if my firm could contract Vickers to produce a few bits and pieces for us. We foot the bill and no questions asked."
"But we still get first refusal?"
"That goes without saying. We may ask you to refuse an item because of something else in the pipeline arriving later."
"Understood. Which day next week for the firing range?"
"I'll call you before Friday because Winston wants to be there. I also want to invite a squad from the para regt. But now let's party."