Word: bertelsmann
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Dates: during 1980-1989
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Foreign bargain hunters often pour enormous effort into their shopping. Michael Dornemann, a director of West Germany's Bertelsmann communications giant, flew to the U.S. more than 50 times over the past three years while deciding how his company should spend its $1 billion American shopping budget. Often taking the morning Concorde from Paris in order to put in a full day's work in the states, Dornemann visited more than 20 U.S. companies before choosing his recommended targets: Doubleday publishing and RCA records. The possibility of snagging both was considered so unlikely that he and his boss, Bertelsmann Head...
...place the embarrassment behind them. Many called for the resignation of Henri Nannen, 69, who has been Stern's publisher since the magazine was founded in 1948. Others hinted that blame extends high into Stern's parent corporation, Gruner & Jahr, and even into the holding company, Bertelsmann AG, a publishing conglomerate (1982 sales: $2.4 billion) that includes Bantam Books...