Word: corpe
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DIED. J. (for John) Willard Marriott, 84, chairman of the Marriott Corp., who parlayed a nine-stool Washington root-beer stand started in 1927 into a $4 billion worldwide lodging and food empire that includes 142 hotels, 1,500 restaurants and flight kitchens serving more than 150 airlines; in Wolfeboro...
Behind those executives, advancing through the ranks in banks, manufacturing companies, retail firms and service corporations are thousands of ambitious young women. Says Rand Corp. Economist James P. Smith: "They are in the pipeline in middle management now. It is inevitable that after 20 years of work experience, a good number of those women will...
Choosing a woman for a senior position used to be enough to spark speculation that the company was in trouble. Leanne Lachman, president of the Chicago-based Real Estate Research Corp. (estimated 1985 revenues: $7.8 million), recalls that her promotion in 1979 triggered such stories about her firm. Says she: "Appointing a woman as president was a high-risk thing to do at the time." Barbara Gardner Proctor avoided the problem in 1970 when she founded her Chicago advertising agency by naming it Proctor & Gardner. Some early clients, she recalls, "assumed that there was a Mr. Gardner...
Another sign that women have yet to be fully accepted as executives is a stubborn salary gap. Separate studies by Harvard, the Rand Corp., Stanford and the Columbia University Graduate School of Business have all documented the same trend. According to Mary Anne Devanna, who conducted the Columbia study released last year, female M.B.A.s entering the work force are paid the same starting salaries as men with the same qualifications (1985 average: $28,584). But within ten years, the women fall behind by 20% in pay, regardless of the company they work for or their jobs...
Thomas Cavanagh was a Northrop Corp. employee with military secrets to sell. In search of a buyer, he called Soviet emissaries in the U.S., arranged a meeting and offered "Stealth" bomber technology for a piddling $25,000. Even for so little, his hosts were not about to accept. The FBI had intercepted his original call, and the men to whom he was hawking his wares were undercover FBI agents. He was arrested, convicted and sentenced to life...