Word: boardrooms
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Despite the rising number of directors,* the nation's companies are still hard-pressed to find men - or women - with the time and savvy to fill the 150,000 boardroom chairs. Because of the increasing complexity of business, directors need to know more and work harder than ever. By charting - or at least approving - the policy guidelines followed by management, they act as trustees for 17 million U.S. stockholders. Yet few stockholders know much about who the directors are, what they do, or how they are selected...
Over at Eagle Shirtmakers, Inc. in Quakertown, Pa., the boardroom boys fretted over an industry shortcoming: too many clothing manufacturers cloak colors with such drably unimaginative names as dark blue or light tan. Eagle proposed a contest for more colorful descriptions, as a starter suggested navel orange and whizzer white. Along Madison Avenue, and in Mineola, Mamaroneck and Montclair, the game caught on. Eagle has been deluged with a chromatic list of imaginative new colors. Among them: gang green, forever amber, sick bay, hash brown, dorian grey, hi ho silver and statutory grape. Upcoming out of Quakertown: a shirt...
...sincere $35 hand-painted number on the way to a job interview; the second when Norman, newly hired as an account executive at $35,000 per, amusedly dropped $8 out of his office window; and the third when Norman watched his client. Evan Llewelyn Evans, spit on the boardroom table to illustrate a point in mnemonics. There was nothing much to the rest of The Hucksters, and there didn't need...
...directors began raising a hue and cry about mismanagement. Last May, after a 1961 loss of $83,600 on sales of $141 million, Landa resigned as an officer of the company. Subsequently, a score of lesser Fairbanks executives scurried off, and those who remained behind were so absorbed in boardroom battles that no one was left to mind the store...
...they trooped glumly into the wood-paneled splendor of their boardroom one morning last week, 26 governors of the American Stock Exchange steeled themselves for an unpleasant task. An hour later the deed was done. Out of his $75,000-a-year job as president of Amex went genial, silver-haired Edward Theodore McCormick, 50. Out along with McCormick went his right-hand man and chief adviser, Exchange General Counsel Michael E. Mooney...