"Frank Boettcher" wrote:

They went away from the original business model which was to acquire
underperforming companies with great names, leave them autonomous
and
give local management the support to do what needed to be done.

Back in the early 60s, a guy named Tinkham Veal, a Clevelander, formed
Alco Standard, basically a holding company.

Aimed at the sole proprietor of a $3-$5Meg business..

The idea was that Alco would provide all of the overhead services such
as human services, legal, etc, thus freeing up time to concentrate on
growing the business.

In return, the sole proprietor would exchange their stock for Alco
stock

Was successful back then, have no idea where things stand today.