Word: boozing
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...Though hybrids account for less than 1% of the estimated 17 million new cars to be sold this year, they could make up 3% of the market by the end of the decade and potentially as much as 20%, according to a study by consulting firm Booz Allen Hamilton...
...purges signal that corporate boards and shareholders across Europe are fast catching up with the U.S. in refusing to tolerate scandal, sustained losses or other indications of poor management. In a study published last year of 2,500 publicly traded companies, consulting firm Booz Allen Hamilton found a sharp increase in CEO turnover--and it is Europe's chief executives who are the biggest losers. From 1995 to 2002, the frequency of CEO succession in Europe increased 192%, compared with a rise of just 2% in North America, where company bosses have traditionally enjoyed less job security...
...Dutch retailer Ahold, which owns a number of U.S. grocery chains. But the change also reflects the influence of American-style investor activism and the growing clout of U.S. pension funds in stock markets across the Continent. "The performance culture has come to Europe," says David Newkirk, a Booz Allen senior vice president...
...supermen like Messier--who referred to himself as a "master of the world" and published two autobiographies, one while he was CEO and a sequel after he was ousted--has been consigned to history, for now. "The extreme case of 'the company, c'est moi' is behind us," says Booz Allen's Newkirk. At engineering giant ABB, based in Zurich, Jurgen Dormann stunned senior managers by telling them in one of his first meetings after taking office in September 2002, "I don't like to work too hard or take decisions. You do that." It was a playful...
...they make stark reading. One survey by consultants A.T. Kearney revealed that 58% of mergers failed to reach the value goals set by top managers. A McKinsey & Co. report found that 40% of mergers failed to capture the cost advantages that theoretically justified the takeover. Most starkly of all, Booz Allen & Hamilton concluded that "the likelihood of failure is greater than 50%, however you measure success - shareholder value, stock price, profitability or attrition." In other words, mergers often do more harm than good. That sentiment is usually echoed by unions, who note the tendency of merged firms...