Word: accountability
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Dates: during 1950-1959
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Congratulations on your story [on the college admissions problem-Feb. 4]. It is a graphic account of a situation which up to now has received far too little public attention...
These averages are derived by the prescribed ICC Uniform System of Accounts, which Ladd accused of "retarding the development of good management cost data." One ICC account combines water cooler ice, car cleaners' wages, detouring costs, and eye and ear tests for trainmen into one figure...
...seat in Harvard Memorial Church's Appleton Chapel, dandled on his knee plump, 13-week-old Adlai Ewing IV (so christened there), son of Adlai III (Harvard '52). When the presiding minister spurned a christening offering and suggested that the money should go into a bank account for Adlai IV, Grandpa Stevenson quipped: "Here is one infant who can credit his baptism and you with his solvency...
...from 25 states. Actually, ICT always lost money. Taking bad fire and casualty risks, it paid out some 61% of its premiums in claims, up to 35% in agents' commissions, 15% in management expenses to Cage, who also enjoyed a reported $40,000 salary and a lavish expense account. Living high, Cage took former Texas Insurance Commission Chairmen Garland A. Smith and J. Byron Saunders on free junkets to Havana and Las Vegas in his private plane...
Foote has no definite plans yet, but says: "I lean toward my own business or a piece of a medium-size agency." No stranger to change, Maverick Foote in 1948 startled Madison Avenue by giving up American Tobacco's $12 million account-the fattest ever voluntarily relinquished-over a policy disagreement with its management, two years later left Foote, Cone & Belding, which he had helped found, and in 1951 joined McCann-Erickson...