The Turner prize

摘要

A few years ago bae Systems (which used to be plain British Aerospace until it bought GEC-Marconi in 1998) was staggering from one disaster to another. Profit warnings came thick and fast as British defence contracts ran over budget and behind schedule. As recently as February 2004, 80% of bae business was subsidising losses made on the 20% tied up in British defence contracts. But by then a pugnacious chief executive, Mike Turner, was taking on the bureaucrats at the Ministry of Defence. He renegotiated contracts, refused to sign new deals until the ministry assumed some of the risk involved, and repeatedly threatened to abandon Britain for more lucrative business in America. He got his way. Con- tracts announced on January 4th for new armoured vehicles underline BAE's renewed status as a national champion.