Word: chaine
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...acres; its value as real estate alone is estimated at $858 million. It is owned entirely by the Mormons. The largest producer of nuts in America, AgReserves, Inc., in Salt Lake City, is Mormon-owned. So are the Bonneville International Corp., the country's 14th largest radio chain, and the Beneficial Life Insurance Co., with assets of $1.6 billion. There are richer churches than the one based in Salt Lake City: Roman Catholic holdings dwarf Mormon wealth. But the Catholic Church has 45 times as many members. There is no major church in the U.S. as active as the Latter...
COMPETITIVE ADVANTAGE Close cooperation among all the links in the manufacturing chain--the cartel-like structure known as Keiretsu--turned the country into a production machine. A promise of lifetime employment and a culture of consensus created silky-smooth labor relations. For more than a decade, this unique brand of teamwork pushed Japan into an economic league of its own. No other country had such low unemployment and low inflation; the rest of the world struggled with stagflation (high unemployment and inflation). Japan racked up some $400 billion in trade surpluses in the decade. Indeed...
...people to focus on selling shoes and accessories, it seemed that another American icon was being swept aside by the cruel winds of change. Yet Woolworth suffered not from forces beyond its control so much as from generations of five-and-dime management of the 118-year-old chain. In the '60s the company was late in following its customers to malls, and its attempt at a discount chain, Woolco, lasted just 20 years. Similarly, in the early '90s, Woolworth homed in on mall locations just as shoppers were abandoning mall shopping in droves...
NASHVILLE, Tennessee: The largest commercial hospital chain dumped its top management amid a federal Medicare fraud investigation that has seen FBI agents raiding its hospitals for financial records. Federal investigators told TIME that the resignations of founder and chairman Richard Scott and president David Vandewater will in no way reduce their interest in probing the company's practices regarding Medicare billing and its home-care operations. Dr. Thomas Frist Jr., Columbia's vice chairman, announced he would be taking over the posts of chairman and chief executive officer. The resignations came as the company was considering being acquired...
...single season after the wreck, yet he won 13 more, including six of the first nine majors he played after the accident. On the course, Hogan did not laugh. He did not joke. He did not smile. In his trademark white hat, Hogan walked deliberately from shot to shot, chain-smoking. And he hit the ball, cleanly, precisely, again and again, completely a craftsman of each swing and of each round. "Ben Hogan personified golf for many of us," said Professional Golfers' Association Tour commissioner Tim Finchem. "Perhaps no other player had the same impact on the way people approached...