Word: chairmanships
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...Schedule. There are rumors that Rockefeller's job is at stake. Supposedly, a few disenchanted Chase directors have sounded out potential candidates for the chairmanship. Two of the leading possible replacements: Donald Regan, chairman of Merrill Lynch, the nation's largest brokerage house, and Thomas Wilcox, chairman of Crocker National Bank (national ranking: 15th). Publicly, however, the directors join ranks behind Rockefeller. For his part, Rockefeller insists that he has no intention of stepping down until he reaches the mandatory retirement age of 65 in four more years. "We've gone through some difficult times," he concedes...
...archfiend among these politicians was Senator Joseph R. McCarthy, who used his committee chairmanship to conduct a campaign of terror and slander, before which even President Eisenhower buckled. Early in 1950 McCarthy waved in his hand a piece of paper that he claimed bore the names of 205 Communists knowingly employed by the State Department (the Communists were as real as the Salem witches). And it was only after the 1954 elections that he was at last brought low and formally censured by the Senate. Thus it is that McCarthyism (a word coined by cartoonist Herblock) has become the dictionary...
...proposing reforms to a three-man committee headed by Wisconsin's David Obey, 37, a tough-minded and rising Democratic star. The group advocated curbing the authority of the House Administration Committee, which Hays used to dispense favors and build his power until he resigned his chairmanship last week. Under Hays, the committee had the right to increase Congressmen's allowances and even the size of their staffs. To prevent abuses, Obey recommended that such changes be granted only by a vote of the full House...
Failing Fortunes. That saga is the true story of Genesco Inc., the footwear, apparel and retail giant that W. Maxey Jarman built in Nashville, Tenn. In 1969 Jarman, then 65, turned over the chairmanship to his brash, M.I.T.-educated son Franklin, but retained a firm grip on the corporate purse strings by remaining head of the finance committee. To many, Frank Jarman's ascendancy amounted to rank nepotism-a suspicion that seemed justified when, in 1972, Genesco sales began a steady decline. In 1973 Genesco reported a $52.9 million loss, the first in its history; two years later there...
...vainest. Unsatisfied by his largely ceremonial post as President of the Continental Congress, John Hancock of Massachusetts yearned to be Commander of the Continental Army. When General Washington was named instead, one witness noted a "sudden and striking change of countenance-mortification and resentment." Offered the chairmanship of Congress's Marine Committee, Hancock is now trying to make sure that the most lavishly outfitted ship being built for the new Navy is the 32-gun frigate Hancock...