Word: controllable
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Dates: during 1980-1989
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...Atlanta papers. After beefing up the staff and running hard-hitting stories on such powerful local institutions as Coca-Cola and the Georgia Power Co., says Kovach, the papers' managers began urging shorter, softer stories in the mold of USA Today. Finally, following a showdown with the publisher over control of the papers' Washington bureau, Kovach quit...
...management's behest was rejected outright in favor of a vastly different plan that would eliminate some of the paper's prized international bureaus. "No self-respecting editor could accept such a downgrading of the importance of the daily newspaper's content and such a compromising of its editorial control and integrity," wrote Anable of the new plan in his letter of resignation. "The decision-making process," says Fanning, "seems to exclude editorial input. The business side seems to be calling all the shots...
...large a share of the goodies. While precise details of the Johnson group's stake have not been announced, several insiders have leaked the terms. Under Johnson's proposal, 90% of the company's equity, roughly $18 billion, would be swapped for debt. He and his group would control about 8.5% of the remaining equity, which would be sold to them for just $20 million but would immediately be worth about $200 million. The management group has also given itself incentive payments, which, if certain profit targets were met, would increase its stake to just under 20% over five years...
...drivers pay the highest average rates in the U.S., a group of consumers pounded a car with a sledgehammer last February to demonstrate their rage. Each state regulates insurance separately, a practice that contributes to wide price differences from place to place. Several Midwestern states have been able to control insurance costs to some degree by passing strong no-fault laws, under which drivers file claims with their own insurers instead of bringing expensive suits against one another...
...sides agreed that California's car premiums have careered out of control. Insurers, who blamed runaway medical expenses and repair bills, also accused the state's trial lawyers of persuading clients to bring unnecessary suits. Consumer activists replied that insurers were still making healthy profits in the state and noted that companies were able to spend $70 million to fight Proposition 103 and promote alternatives on the ballot. (The measure's sponsors, led by Rosenfield and consumer advocate Ralph Nader, spent $2.3 million to get it passed...