Word: borch
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Dates: during 1970-1979
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...driving force behind the merger was Fred Borch's successor as GE chairman, Reginald Jones, 58. Jones has had to deal with a profit slump at GE. The company's net earnings fell 14% in the first nine months of this year after reaching a record $608 million in 1974. One reason is that GE has been losing money on fixed-price orders for atomic power plants; lead times on such projects are long and cost overruns can be breathtakingly high. Jones says that GE sees Utah as "an important opportunity in the natural-resources industry." Some Wall...
...Catcher Thurman Munson put up an unknown amount; Republican Senator Jacob Javits of New York, $28,500; Federal Judge Murray Gurfein, who wrote the decision in the Pentagon-papers case, $70,000. Most astonishing is the list of astute businessmen like Wriston who invested their personal funds. Fred J. Borch, former chairman of General Electric, put up $440,920; William H. Morton, president of American Express, $57,000; Donald Kendall, chairman of PepsiCo, an unknown amount; James R. Shepley, president of Time Inc., $68,500; Thomas S. Gates, who was once Defense Secretary and chairman of the Morgan Guaranty Trust...
General Electric Chairman Fred Borch, for instance, contends forcefully that the U.S. is under a handicap in competing with nations that subsidize exports as a matter of government policy. He points out that between 1960 and 1970, U.S. domestic prices rose 32% and export prices 23%. In the same period, domestic prices in Japan and Italy soared 78% and 54% respectively, but the increase in export prices was held to only 8% for each country, thanks to government subsidies and other special help. As an example of such aid, Borch points to a Japanese law that allows companies to take...
...free traders ought to recognize that the handicap argument has some validity. It does not justify protectionism, and indeed Borch does not plump for that. But the Administration could well give U.S. exporters more help by stimulating research and development and providing financial aid for companies entering the export field. White House Trade Chief Peter Peterson promises to design a legislative package including just such measures; it certainly deserves sympathetic consideration...
...that, quickly learned better. After conferring with a dozen top business leaders last week, Stans reported that they reached a "general conclusion" that the controls will have to be extended beyond 90 days. When newsmen caught up with some of the participants, however, they found General Electric Chairman Fred Borch "skeptical" of such a plan. G.M.'s Roche favored "some kind of wage restraint," but blanched at the suggestion of a further hold on prices. "Our industry has an excellent record of price restraint," he said...