Word: boardrooms
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...answer, surprisingly, is not some place in the Sunbelt but just 30 miles or so away, Connecticut's Fairfieid County. Long famed as tony bedroom communities for high-paid commuters to the corporate canyons of New York City, such towns as Greenwich, Darien and Westport have become boardroom communities for many of those same bosses: they have brought their offices closer to their homes...
...system requires not only debate but also intellectual confrontation: "Democracy means that you and I must fight. Democracy means a kind of Darwinism for ideas." Though he wants to preserve "what is best in our traditions," he insists that he is not at all conservative "in the Republican boardroom sense...
...boardroom uneasiness about replacement-cost accounting starts with the expense of making the new calculations, a job that might cost as much as $1 million at some large firms. More fundamentally, executives worry about the impact of lower reported earnings on Wall Street's view of a corporation's stock...
...morning last week, the directors of CBS Inc. walked into the 35th-floor boardroom of the company's headquarters tower in mid-Manhattan for their monthly meeting. They could not fail to notice the one empty seat at the huge, 17-place mahogany table-the seat reserved for President Arthur R. Taylor-but no one said anything about it. They had all been warned of what was going to happen next. CBS Chairman William S. Paley, 75, wasted no time. He announced that Taylor, 41, a financial wizard whom Paley himself hand-picked in 1972 for the presidency...
...Sarnoff, chairman of the RCA Corp. and son of its redoubtable longtime chief Brigadier General David Sarnoff, quit his $326,000-a-year post after the corporation's directors refused his request for a salary boost (TIME, Nov. 17, 1975). The event had all the earmarks of a boardroom putsch. Since 1971, when RCA absorbed a $490 million pretax loss in selling off the computer business that had been Bobby Sarnoff s brainchild, there had been widespread rumors about various directors' dissatisfaction with their chairman...