Word: builder
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Dates: during 1980-1989
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Some Wall Streeters think that anxiety over the possibility of a hostile takeover drove ABC into a union with Capital Cities. Leonard Goldenson, 79, ABC's builder and chairman, and Executive Vice President Frederick Pierce, 52, denied that fear was their main motivation for joining Capital Cities. But they did stress that the friendly deal would allow both organizations to continue the "independence that has permitted each to flourish and to provide the finest possible service to the public." Said Goldenson: "I felt the mix was absolutely perfect...
...face of this nation is decisively shaped by the Federal Government. It is the country's largest single builder, printer and design client for objects as various as power dams, monuments and postage stamps. The looks and liveliness of Government buildings often determine the vitality of town squares and city centers. Federal highways and public works enhance or mar the American landscape. The appearance of Government signs, pamphlets and questionnaires can make life easy or irritating for citizens...
Some business executives are skeptical. They believe that entrepreneurship cannot exist inside a large company on more than a token basis. Harold Geneen, the builder of ITT, contends in his 1984 book, Managing, that "entrepreneurism is the very antithesis of large corporations." Shareholders, he says, will never stand for the risks involved...
...dozen subsidiaries with assets of $1.7 billion. That will be a 12% slash in the company's current assets of $14.1 billion. Officials disclosed only a partial list of the units for sale. They include Eason Oil, the Bobbs-Merrill publishing house and O.M. Scott & Sons, which makes Turf Builder lawn fertilizer. ITT also intends to sell a minority interest in its Sheraton hotel chain. The company will keep Hartford Insurance and most of its holdings in the telecommunications and defense industries...
Florida officials, though, are worried about the impact of Levitt's new town. They say that such a massive project would overwhelm water, sewer and other local services. But the master builder is undeterred. Says he: "Bear in mind that we're veterans in this business...