Word: ceos
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Dates: during 1990-1999
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...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 yet. I think the damage has already been done, but we've got to work through it." He says that he intends to keep his staffing "flat...
...Business Council, a gathering of mostly FORTUNE 500 execs, the mood might have best been described as resolute, reflecting a determination to make the best of what most of the attendees regard as a fast-approaching worldwide recession. A survey of 75 of the council's 300 CEOs showed that 95% expected the global downturn to have some negative effect on their earnings. More telling, 64% were planning cost-cutting measures that included less hiring, and 57% expected to reduce capital spending significantly. Yet there was a buoyant sense that the U.S. would ride it out. "I don't think...
Layoffs and firings seem to be the handiest solution for other companies too. "Companies no longer wait to ride out the tough spells," says John Challenger, CEO of Challenger, Gray & Christmas, a Chicago outplacement firm. "They practice just-in-time firings." At chipmaker National Semiconductor, managers voice the optimism of those who feel they have reached the bottom. "We've taken fairly severe actions," says chief financial officer Don Macleod, pointing out that the company cut 1,400 employees in April through attrition and layoffs--10% of its work force --even before posting a loss for the quarter. "Our business...
...back of the book jacket profess. For all of those sane, not-yet-obsessed opera fans, however, the book will take a little more effort. Although written in a relaxed, unpretentious style, the narrative is inundated with the names of every important performer, publicist, conductor and record company CEO in the business, not to mention the titles and allusions to plot synopses of most of the major operas. With the effort though, anyone who reads this will emerge from this book with a new appreciation for all of those "sublime sufferers and nuts...
...shadow over his corporation's motives: "A lot of this trial comes down to the perception of whether or not a monopoly played within the rules and used its market share in an appropriate way," says TIME correspondent Adam Cohen. "The video testimony hurt Microsoft because it presented their CEO in an unflattering light -- the government wanted to paint Gates as an unsympathetic character, and for that purpose there's nothing like having him up onscreen doing things the audience can evaluate...