Roy wrote:What was Lionel thinking?
It was all about getting the cost down and preserve the margin, pure and simple. By 1960 it was a life-or-death struggle for the company. Things really went to hell after Roy Cohn, who had gotten control of the company in 1959, took over as president in March, 1962. He replaced an honorable guy, retired army general John Medaris who Cohn shuffled off to be vice-chairman.