[Excerpt] Local #277 of the United Electrical, Radio and Machine Workers of America contracted with the ICA for a preliminary assessment of the long term viability of Morse Cutting Tools. The union had become alarmed by declining employment at Morse and by Morse management's statements regarding the company's inadequate profitability and shrinking market share. Of even greater concern was the threat that the conglomerate which owns Morse, Gulf+Western (G+W), might close the New Bedford plant. We were asked to examine Morse's position in the cutting tool business with particular attention to the adequacy of G+W's investment in plant and equipment and of Morse's management strategy.