AN INTELLIGENCE UNIT IS REPORTEDLY READY TO END OPERATIONS

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP90-00806R000100560004-5
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 1
• Document Creation Date: December 22, 2016
• Document Release Date: August 4, 2010
• Sequence Number: 4
• Publication Date: January 30, 1983
• Content Type: OPEN SOURCE

Sanitized Copy Approved for Release 2010/08/05: CIA-RDP90-00806R000100560004-5
ARTD77711
ON P.~ 1
NEW YORK TINS
30 JA^,UARY 1983
An Intelligence Unit
Is Reportedly Ready
To End Operations
} Spwial toThe New Yoek Tint
WASHINGTON, Jan, 29 - The Inter.
national Reporting Information Sys-
tems, a private company formed in late
1981 to gather intelligence, plans to file
for bankruptcy, according to several
employees.
From the start the company had thcP
reputation, later denied by company of-
ficials, 'as something of a private Cen-
tral Intelligence Agency for businesses
-and governments.
An international advisory council for
IRIS included former Prime Minister
Edward Heath of Britain and the for-
mer World Bank President, Robert S.
McNamara. Mr. McNamara could not i
be reached for comment.
Internal divisions and poor manage-
ment led to the company's decline, ac-
cording to one employee. He also said
the company had few clients. The com-
pany charged $100,000 a year for corpo-
rations and $500,000 for governments.
Another employee said the company
had no sales in 1962 and had done only
"exploratory work" for some clients.
The company was established as a
service to provide analyses on foreign
countries, using computers to evaluate
documents in several languages and
correspondents to write briefs.
Paul Boeker, senior vice president in
charge of analysis for the company,
said, "I am in a position where the.
shareholders don't want us to say any..
thing." But he added, "There are meet-
ings ahead and the investors are consid-
ering the state of their Investments."
An aide for Anthony Stout, the
founder of the company and chairman
? of Government Research Corporation,
said he received`]r telex on Friday from
a board member, Charles Williams of
Henry Ansbacher Investments Ltd. in
London. saying the board had decided
unanimously to file for bankruptcy
under Chapter 11. Mr. Stout, a board
member. also gave his approval to the
petition.
STAT
Sanitized Copy Approved for Release 2010/08/05: CIA-RDP90-00806R000100560004-5