Word: 3m
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...groups. Mitsubishi Motors and Mitsubishi Electric agreed last February to use only tree-free products by 2002. Kimberly-Clark scaled back its use of rain forest-wood fiber after the organization published ads depicting ancient forests over the headline OLDEST LIVING THINGS ON EARTH OR TOMORROW'S TOILET PAPER? 3M signed on after RAN set up an 800 number for consumers to complain. Nike, Levi Strauss and Andersen Corp. (the largest U.S. window manufacturer) agreed without hesitation, and Kinko's is even marketing its eco-friendliness with a line of tree-free paper made from bananas...
...month, in addition to the $70 payment each patient gets from his or her employer; others demand $20, still others $40 (no deductibles though). You pays your money--along with funds kicked in by such employers as Pillsbury, General Mills, Honeywell or Scotch tape-maker 3M--and you takes your choice...
...quarter portfolios in time for the three-day Easter holiday were also to blame. The bond market benefitted from those fears, with yields on 30-year Treasury bonds hitting 7.06 percent, up from 6.98 percent late Wednesday. Key victims of the frenzied sell-off included heavy weights Allied Signal, 3M, Exxon, Coca-Cola and Procter &Gamble. The dollar, meanwhile, also suffered, taking a slight dive to close at 123.48 yen and 1.6898 marks...
...career life in the Nothing-Is-Sacred Nineties. When corporate behemoths spin off divisions, they often cite the need to "focus on our core competencies" (translation: "We couldn't run this thing") or to "unlock value for investors" ("We made stupid acquisitions, and now we're dumping them"). 3M had to make hard choices about where to invest its money. Imation lost out because of its lousy earnings compared with other businesses. So out the door it goes, with a bunch of products and patents and three years of prominent use of the 3M brand name with them...
...Imation, based in a former 3M office building flanked by cornfields in suburban St. Paul, separation from the 3M way of doing things represents not only a threat but also a chance to shine. In addition to slashing costs, chairman and chief executive Bill Monahan vows to create a lean, quick-strike culture that tailors its products to the needs of its customers. "Anybody and everybody will be interacting with the customer," he says. Monahan's ambitious goal is to post a total of $150 million in "economic profit"--defined as operating income after taxes and deductions for the cost...