Word: annually
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Dates: during 1980-1989
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Substitute Social Security checks and Christmas cards for fudge caramels, imagine 150,000 annual grievance proceedings and 69,000 disciplinary actions instead of firing, and a picture of the modernized Postal Service emerges. Officials downplay the problems but admit that the new pace is hard on older clerks accustomed to stuffing mail into pigeonholes. Yet the old-fashioned postalworker represented by two powerful unions is going to have to adjust. "We've got to capture the savings dollar-for-dollar that these machines represent, or we can kiss the Postal Service as we know it goodbye," says Robert Setrakian, chairman...
...machine. But the first crack in that facade occurred in January 1986, just two months before the purchase of Bates, when longtime finance chief Martin Sorrell departed to start his own agency. Sorrell, who had grown restive as a Saatchi subordinate, has since assembled an agency group, WPP, with annual revenues of $1.2 billion. Close observers of Saatchi & Saatchi date the firm's financial drift from Sorrell's departure. Says a marketing executive in London: "He guided them. When he left, they did not know...
After its first annual loss in 19 years, the world's biggest advertising firm hopes for help from new chief executive Robert Louis-Dreyfus. -- The Food and Drug Administration is ailing...
...blue-ribbon commission to get the FDA back on course. "The President and I are committed to strengthening the FDA," Sullivan declared. In the Senate, meantime, Massachusetts liberal Edward Kennedy has joined with Utah conservative Orrin Hatch in a bipartisan effort to beef up the FDA's anemic annual budget by setting a floor level of $500 million, vs. the current total of $492 million. Their proposal would also provide the FDA with a single facility -- currently, it is spread across 22 buildings in Washington, from converted chicken coops to renovated Army barracks. Even regulated industries, fearing a loss...
Decaying labs and desperately low salaries have made hiring another FDA travail. Some important drug-review posts have an annual turnover rate of 20%. At least one former FDA official believes many new employees use their stint at the agency to bolster resumes that are then quickly circulated to industry...