Word: corps
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Dates: during 1990-1999
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WASHINGTON: Are you comfortable with doctors getting paid to stamp their endorsement on a thermometer? The American Medical Association, the nation's largest organization of doctors, and Sunbeam Corp. signed an exclusive five-year contract to put the AMA seal on Sunbeam products such as blood-pressure monitors and heating pads. In turn, the AMA gets a cut of the action...
Just over a week after three senior Columbia/HCA Healthcare Corp executives were indicted for questionable business practices, the world's largest healthcare company is rewriting virtually every policy that's drawn scrutiny from federal investigators auditing its operations...
...least $6 billion strong. Even more unusual, most of this money is not in bonds or stock in other peoples' companies but is invested directly in church-owned, for-profit concerns, the largest of which are in agribusiness, media, insurance, travel and real estate. Deseret Management Corp., the company through which the church holds almost all its commercial assets, is one of the largest owners of farm- and ranchland in the country, including 49 for-profit parcels in addition to the Deseret Ranch. Besides the Bonneville International chain and Beneficial Life, the church owns a 52% holding in ZCMI, Utah...
...that "people at the top of the Mormon church have immense experience in the world. These guys have been around the track. Why do they choose to invest directly? Because they are not helpless. They are a bunch of hard-nosed businessmen." Rodney Brady, who runs Deseret Management Corp., has a Harvard business doctorate, served as executive vice president of pharmaceutical giant Bergen Brunswig and from 1970 to '72 was Assistant Secretary of the U.S. Department of Health, Education and Welfare. Similar figures fill the church's upper management: Tony Burns, a "stake president" (the rough equivalent of an archbishop...
...mission president" for a group of 220 young proselytizers in Washington. He took leave from his company and moved his wife and nine children with him. When his stint was up, they headed back to Utah, and Huntsman resumed building the $5 billion, 10,000-employee Huntsman Chemical Corp., which he owns outright. Ten years ago, Huntsman shifted his company's mission from pure profit to a three-part priority: pay off debt, be a responsible corporate citizen and relieve human suffering. Thus far, his company has donated $100 million of its profit to a cancer center at the University...