Word: darman
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...corporate fitness trend is cresting at a time when some Government officials have taken pointed aim at businessmen for their inefficient ways. Last November, Deputy Treasury Secretary Richard Darman stirred controversy when he used the terms bloated and corpocracy to describe the U.S. business hierarchy. Darman's epithets rebutted executives who blamed federal tax and budget policies for problems with U.S. competitiveness. Both Darman and other officials, however, acknowledge that Big Business is changing its ways. Robert Ortner, chief economist for the Commerce Department, acclaims the present restructuring efforts of corporate America as "amazing...
...jobs to 19.1 million. But partly because of this slimming down, U.S. manufacturing productivity -- hourly output -- has risen by an average of 3.8% annually over the past five years, compared with 1.5% in the '70s. But no such productivity improvement is yet evident outside of manufacturing. Says Treasury's Darman: "We have to make ourselves more efficient in the service sector...
...soul-searching gave rise in 1986 to several of the hottest business buzzwords of the 1980s. One was "corpocracy," meaning the Big Business equivalent of government bureaucracy. The Reagan Administration used the term in contending that many of corporate America's problems were of its own making. Richard Darman, the Deputy Treasury Secretary, stirred the debate in November, when he blasted big < companies' tendency to be "bloated, risk averse, inefficient and unimaginative...
...recent criticisms of American companies, some Administration officials have sounded as harsh as the corporate raiders. Only three weeks ago Deputy Treasury Secretary Richard Darman launched a slashing attack on what he called "corpocracy." By that, Darman said, he meant the tendency of U.S. corporations to become similar to the Government bureaucracies that company executives frequently deplore: "bloated, risk averse, inefficient and unimaginative." Corporate raiders, Darman added, "are gaining attention as a new kind of populist folk hero, taking on not only big corporations but the phenomenon of corpocracy itself...
...Darman also said that other major countries in the international market, such as Japan, do not suffer from the same educational deficiencies found in the United States...