PERSONAL FILE

sb "I've seen four fine comptrollers at General Electric and he is the best we've ever had," said Chairman Ralph Cordiner as he introduced G.E.'s new president, Gerald L. ("Flip") Phillippe, 51. Wyoming-born, Phillippe (pronounced Fill-i-pee) joined G.E. right out of the University of Nebraska in 1933, has been principal financial officer of the nation's fourth largest industrial company since 1953. Phillippe is famed inside G.E. for the skill he has shown in reducing the company's complicated financial structure into graphic, simplified systems that he has streamlined by automation. It was this talent--displayed at a time when G.E. needs a sharp, cost-cutting pencil to cope with the profit squeeze and mounting foreign competition--that propelled Phillippe into the presidency over the heads of five senior vice presidents. Cordiner remains chief executive officer and scoffs at rumors that he is about to retire in favor of Phillippe. But under G.E. regulations, the 61-year-old Cordiner must retire in 3 1/2 years, and the identity of the heir apparent now seems clear.

sb A stubborn individualist who pays his engineers 50% more than going rates and insists on at least 50% more work, tempestuous Carl Kiekhaefer, 64, has paced the outboard-motor industry for 20 years with his personally designed Mercury engine. Last week, to forestall estate problems, Kiekhaefer merged his Wisconsin-based Kiekhaefer Corp. with burgeoning Brunswick Corp. in return for $34 million (a 3.8% interest) in Brunswick stock. The deal makes Brunswick the only U.S. company with a full line of both boats and motors--but only on Kiekhaefer's terms. He will retain complete autonomy at Mercury, has told his dealers he will not recommend that they take on Brunswick boats.

sb For the second time in two months, Justice Department trustbuster Lee Loevinger, 48, caused a sell-off in A.T. & T. stock (4 5/8 points in 1 1/2 hours) by unintentionally implying that antitrust action against the company was imminent. A Minnesota liberal in the Populist tradition, Loevinger insists that on both occasions he simply meant that the Antitrust Division always keeps an eye on a giant. "I am amazed," says he, "that the papers attach so much significance to the things I say in public."

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