Word: cutters
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...will be divested. Hutchison has also been selling off shares of other companies from its investment portfolio at a feverish pace, so confusing its books that accountants cannot even produce a sales estimate for 1974. Wyllie, a 43-year-old Australia-born millionaire with a reputation as a cost cutter, will not formally take over Hutchison's management until Nov. 1. But he has already seen enough to conclude that "there probably aren't 50 subsidiaries that are worth a damn...
...Butter Cutter. Meanwhile, they gross between $30,000 and $50,000 a concert, have an eight-week contract with the Las Vegas Hilton and spend lucrative summer weeks playing theaters and supper clubs. Last fall Gladys, now 31, married her second husband, Barry Hankerson, an executive assistant to Detroit Mayor Coleman Young. He calls her by her middle name, Maria-Gladys, after all, is a show business celebrity. In the industry there is some gossip that success has already created a wedge in the Pips' solidarity. "When vocal groups are hungry, you can't split 'em with...
Like Townsend, Riccardo is a former accountant (both came into Chrysler from the auditing firm of Touche Ross) who has a reputation for being a cold-blooded cost cutter. Riccardo's replacement as president will be Executive Vice President Eugene Cafiero, 49, an affable, up-from-the-ranks production expert and the first member of Chrysler's top management since the early 1950s with a strong automotive background. Both men have won high marks for their performance at Chrysler so far: directors took just six minutes last week to approve their promotions...
Financial Cushion. Townsend, a veteran accountant, seems in no danger of being replaced, because it is in bad times that the Chrysler board most appreciates his specialty. As one former Chrysler executive puts it, Townsend is "a cold-blooded cost cutter." The company recently renegotiated a $455 million, three-year revolving credit agreement with a syndicate of 80 banks led by New York's Manufacturers Hanover Trust Co. The banks gave Townsend his financial cushion mainly because he convinced them that he could and would slash Chrysler's overhead to the point where the company can make money...
...election and it was stacked and I lost. To be very honest, I have to make sure the local is going to make it" (New York Times, November 11, 1974), Workers say that only the lowest level of the hierarchy has contact with them. As one lettuce cutter working under teamster contract said. "The Teamsters only come to the fields one time a month to sign up people. They never talk to the people or try to help them out" (Fresno Bee, September...