Word: budgeting
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Dates: during 1990-1999
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...program, which was founded in 1987, has a $1.2 million budget that comes entirely from corporate sponsors who donate $100,000 each for the right to participate in workshops and research projects for a three-year period, said Thomas M. Fletcher, the program's associate director...
Companies in a number of industries are also engaged in what might appear to be counterintuitive economics: reining in budgets in the face of big revenue gains. Dixon Ticonderoga Co., based in Heathrow, Fla., a 203-year-old maker of pens, pencils, chalks, watercolors, highlighters and other types of markers, is slashing its marketing budget in spite of a hefty 14% increase in sales last year. "We have to hunker down here," says company president and CEO Gino N. Pala. "We have to watch things closely. I don't think we've felt the worst of the economic crunch...
...management used a combination of work-force reduction and other strategies to save itself from diving markets overseas. Atlas, of Burlingame, Calif., suffered a catastrophic 65% drop in sales this year. The downturn led the company to lay off four of its 16 employees and to slash its travel budget from $450,000 to $75,000. With the help of its suppliers, Atlas cut the cost of its products in order to keep its struggling customers. "It's been the most difficult time in our history, and we've been around for 25 years," says vice president Joseph Ryan...
...similar approach, Marriott International offers a 24-hour, toll-free hot line manned by social workers to give employees assistance with and referrals for almost any problem. This can include anything from tips on how to maintain a budget to advice on how to handle a child being expelled from school, to what to do if your house burns down. The hot line costs about $1 million annually to operate. It saves Marriott about $4 million in reduced absenteeism and lower turnover...
...faucet," says resident Helen Martin. For the past five years, 200 families in this hamlet in the northwestern part of the state have sought $750,000 from the Arkansas Economic Development Commission for a new water system. Sorry, comes the reply, there is no money in the budget...