Word: borch
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...system does away with the post of president and divides responsibility largely among three vice chairmen, who report only to Chairman Fred J. Borch, the man who gave up the presidency but remains very much the chief executive. The group's main task is to squeeze more earnings out of G.E.'s steadily increasing sales. Last week in Manhattan, Borch publicly introduced his triumvirate-William Dennler, Jack S. Parker and Herman Weiss. He also reported that sales reached a record $8.4 billion in 1968-double ten years ago-but profits did not keep pace. A preliminary estimate shows...
Entrance Costs. Borch is openly dissatisfied. He says: "We have not been doing as well as we would like in increasing our earnings to match our recent sales growth." At G.E., the percentage of profits to sales ran 4.7% in 1966 and 1967, well down from 1959's recent record of 6.2%. Last year earnings would have been off even more except for a final-quarter spurt in overall sales, including those of TV sets, appliances and other consumer products, which account for some 25% of G.E.'s business...
...General Electric President Fred J. Borch, reporting an 18% drop in third-quarter earnings to $80,689,000, blamed part of the decline on higher wages, part on a general softening in the demand for the kind of consumer appliances in which General Electric dominates its markets...
...soldiers sliced three paintings from their frames in the Grand Ducal Museum of Weimar. Last week the paintings were up on walls again, this time in Washington's National Gallery. On view were a Rembrandt 1643 self-portrait (worth upwards of $750,000), a Gérard ter Borch, one of Rembrandt's contemporaries, and a work by the 18th century German, Johann Heinrich Wilhelm Tischbein. Their strange odyssey bespeaks of both the awe and the ignorance that surround great art works. It also suggests that masterpieces, like people, can be D.P.s...
...Along with four new vice chairmen: General Electric President Fred J. Borch, B. F. Goodrich President J. Ward Keener, Federated Stores President Ralph Lazarus and Hewlett-Packard Chairman David Packard...