Geneen contends the argument thatnbuyouts create greater managementnefEciency — due to the pressure onnthem to pay off the huge debt load — isnspecious. He says that while managementsnmay be more effective in generatingnshort-term cash flow, what’s beingnoverlooked is having organizationsnthat have a long-term feeling and objectives.nKind of the difference betweennmarriages made under the gunnin Reno versus those in church.n”This is important,” he says, “becausenyou get something out of thenemployees that you’re not going to getnout of a leveraged buyout group. Peoplencan contribute a lot to business ifnthey’re so minded, or they can just gonthrough the motions. . . . Morale is 80npercent of the competitive edge, andnit’s very hard to maintain this kind ofnmorale if you’ve got a tremendousnfinancial debt that’s making you donthings you wouldn’t otherwise do.”nHow soon until normalcy returns? Itnmay not happen for awhile. There is annunprecedented amount of leveragednmoney — some eshmate $85 billion —navailable today, searching for targets ofnopportunity. As a result, virtually everyncompany in America feels threatened.nOn the other hand there seems to bena growing awareness that, with all thisndebt, the US may be mortgaging itsnfuture. Chairman Greenspan of thenFederal Reserve Board has alreadynasked the US Senate to considernchanging the tax laws to discouragenmassive takeover borrowings.nAnd in recent testimony before thenSenate Finance Committee, TreasurynSecretary Brady had harsh criticism fornthe buyout craze, saying he has “angrowing feeling that we are headed innthe wrong direction when so much ofnour young talent and the nation’s financialnresources are aimed at financialnengineering while the rest of the woridnis laying the foundations of the future.”nWhich perhaps explains the anxietiesnof the individual shareholders, whonhave fled the stock market in droves.nThey may be waiting for a signal thatnwhen they invest hard-earned savings,nthey’re actually helping to build thencountry, rather than getting involved inna short-term crap shoot.nThomas L. Mammoser is director ofncorporate communications at Walgreens.n58/CHRONICLESnPOP CULTUREnDetroit Shakedownnby Gary VasilashnStevie Wonder wants to becomenmayor of Detroit. He’s had somentrouble determining precisely when thenelection will be held, but no matter. Henbelieves that he can be the mayor ofnMotown in the 90’s. Now, this is nonSonny Bono and Palm Springs. Bono isndecidedly a working-class stiff comparednwith the Retin A-swathed desert rats,nand brings an air of reality to SouthernnCalifornia. Detroit, on the other hand,nis an industrial city that’s losing itsnindustry, a place that is trying to figurenout what it will become (the presentnmayor wanted to make it the AtlanticnCity of the Midwest). And yet Stevie,nlack of experience notwithstanding (inninterviews he notes that Ronald Reaganndidn’t have national experience either)nwants to become the leader of Motown.nThe real leader, of course, was BerrynGordy Jr., founder of Motown Records,nwho left town years ago, for LA, andnhas since sold the label to a conglomeratenthat’s color-blind to every shade butngreen. All that remains of Motown innthe recording sense is a museum onnWest Grand Boulevard in a neighborhoodnthat once boasted chandeliershimmeringnhouses that have since becomenrundown funeral parlors.nAs the city has gone, so have some ofnits citizens. Lester Bangs is one of thenmany casualties of Detroit’s musicnscene. Bangs died in 1982, at age 34.nThe coroner indicated Darvon was ancontributing factor. He might havennnadded rock and roll — probably morenthat than the drug. Bangs, a writer, livednon rock. And in 1982, the pickings werenpretty slim.nBangs wasn’t born in Detroit, nor didnhe die here. But he did work herenduring the eariy 70’s, a pivotal time fornboth his development as a writer and fornmusic journalism. Bangs plied his tradenat Creem magazine during the samenperiod as Dave Marsh, now editor ofnRock and Roll Confidential. In thosendays Creem was a heavy-edged rocknand roll magazine that was what rock isnsupposed to be: rebellious. And itnmade sense for such a magazine tonexist in Detroit back then, for thosenwere the nights (forget the days) whennthe MC5, Psychedelic Stooges, BobnSeger System, and the Amboy Dukesnwere ripping up the stages of venuesnthat included the Grande Ballroom,nthe Birmingham Palladium, and thenEastown.nThe MC5 were the original politicalnrevolutionaries of rock. Their “KicknOut the Jams,” the unofficial anthemnof the White Panther Party, openednwith a 12-letter word that would permanentlyncurl Tipper Gore’s hair. ThenWhite Panther Party was led by JohnnSinclair, a big burly gent who still livesnhere, writing poetry. His White Panthers,nunlike the Black, from whom thenname was appropriated (private propertynis theft and all that), were given tonplayacting with weapons and smokingndope. There weren’t any shootouts ornexplosions. But what they did wasnenough to raise the hackles of whatnthey used to call “The Man.” Onenresult was that Sinclair was busted fornpossession of two joints and landed in anfederal joint. This was such an issuenthat no less a deity than John Lennonncame to Detroit and performed a songnthat he wrote especially for Sinclair.nThe city was hot.nSo were the Stooges. They werenfronted by Iggy Pop, who was thennknown as Iggy Stooge. The Stoogesnwere the proto-punk band who hadnonly a rudimentary — or bestial —nunderstanding of how their instrumentsnworked. Iggy pioneered in audiencenabuse; he was one of the first tonstart fighting with people in the crowd.nIggy, whose name more or less indicatednhis physique, normally got pummeled.nStill, the anti-everything approachnattracted imitators like the Sexn