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In an earlier paper in this journal (Peel, Groves and Pendlebury, 1990), we outlined a major research project, being conducted at the Cardiff Business School, into the impact of privatisation/share‐ownership on the ‘financial awareness’ of employees.

Research is currently being conducted at Cardiff Business School into the impact of wider share‐ownership/profit sharing and privatisation on various aspects of employee relations (see e.g. Poole and Jenkins, 1988; Wilson and Peel, 1989; Groves, Peel and Pendlebury, 1989; Peel, Pendlebury and Groves, 1989; Matthews, 1988). The purpose of the current paper is to outline a specific aspect of this research which is investigating the impact of share‐ownership/privatisation on the ‘financial awareness’ of employees; and to outline some preliminary evidence based on detailed questionnaire returns from leading UK quoted companies.

Since the seminal work of Altman (1968), a large number of researchers have developed statistical models, derived from accounting data, with the aim of predicting corporate failure as evidenced by the event of “bankruptcy”. Such models are now apparently widely and successfully used by credit/investment analysts as an aid to assessing corporate viability (see Altman 1983; Taffler, 1984). However, an area which has received little attention in the management literature, but one of much import to the analyst, is whether it is possible to discriminate between those financially distressed firms which fail, and those where a timely merger appears to serve as a viable alternative to corporate bankruptcy.

A conference on this theme was organised at the Cardiff Business School, 14–15th September, 1988 and a selection of abstracts of papers presented has been compiled.

Looks at the increasing pressure from both environmental and health and safety aspects to overcome the problems associated with solvent‐based adhesives and comply with current and proposed legislation. Discusses the four basic solutions of using solvent containment, safe and environmentally‐friendly solvents, high solids systems and solvent‐free adhesives. Concludes that the long‐term option is solvent‐free systems such as water based, hot‐melt and liquid reactive adhesives, but substantial advances in technology are required if they are to make major inroads in the solvent‐based adhesive market.

AT the moment of writing this country is suffering — we had almost added “as always!” — from a plethora of strikes continuing, strikes near settlement, and new strikes pending. In some sector or other there appears to be continuing conflict in industry. Peace, when eventually it comes, is fragile and fleeting.

The Grundys are the alternative world of Ambridge. Invariably down on their luck, often portrayed as lazy if not feckless and usually incompetent. This chapter speaks up for the downtrodden of Borsetshire and in particular the Grundys. It looks at the development of the Grundy family in The Archers over almost 50 years now. It relates key elements in their lives, looking not just at the class struggle in the village but also the importance of gender in this. It draws on key players in the Grundy story from the 1970s including the late radio DJ John Peel who was for a time an enthusiast for The Archers and who played Eddie Grundy's records on his BBC Radio One show. It also looks at the views of key Archers figures such as Vanessa Whitburn and Keri Davies and how they have approached the Grundys. It uses the work of Marx and Engels to try to explain how it is that the Grundys moved from being small farmers to landless labourers. What the chapter doesn't do is to map out a strategy for the liberation of the Grundys from their oppression. It does however look forward to a world turned upside down when at 19.02 hours on a weekday evening on BBC Radio 4 we hear a programme called not The Archers, but The Grundys.