Stephen R. Hardis, who took over as chairman and chief executive officer in January after serving as vice chairman and chief
financial officer since 1986, says the targeted growth will be accomplished through a combination of tactics: increased capital investments, higher research and development
outlays targeted more directly toward truly new products, acquisitions and expansion in five key developing markets: China, Korea, India, Brazil and Mexico, with China emerging as Eaton's
biggest single opportunity.
The very same thing happened in the music business in the 80»90s when the
big 5 got a shock and found that people could record in their bedrooms for a reasonable
financial outlay and that they had the audacity to set up their own «indie» labels.