[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\u27s statements regarding the company\u27s 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\u27s position in the cutting tool business with particular attention to the adequacy of G+W\u27s investment in plant and equipment and of Morse\u27s management strategy