Word: excessive
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Dates: during 1960-1969
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Though some firms also try to cut down on executive expenses and to weed out excess or unproductive management, the executive's usual penalty in times of falling profit margins is a pay cut. Douglas Aircraft Co. recently reduced salaries for all employees making more than $12,000 a year by 5% to 25%. After Merritt-Chapman & Scott omitted the quarterly dividend, Chairman and Chief Stockholder Louis E. Wolfson-who can well afford a pay cut-gamely announced last week that he will not accept any of his $100,000-a-year salary until profits pick...
...Country banks"-those not in central reserve and reserve cities-can count as part of their reserve requirements any vault cash they have in excess of 2½% of their net demand deposits. Present rate: 4%. Reserve city and central reserve city banks can use all vault cash over 1% of net demand deposits, v. the current 2%, in meeting reserve requirements...
...month. Just three weeks ago, amid rumors of corporate skulduggery. William Charles Newberg, 49, left the corporation only nine weeks after he took over as president. Last week the full extent of his shady goings on was made public. Chrysler announced that Newberg had agreed to return "profits in excess of $450,000 made by him from interests in vendor companies." Corporate executives at Chrysler, including Chairman Lester Lum ("Tex") Colbert, normally a vocal fellow, were just as reluctant to talk about this startling news as they were about Newberg's sudden departure...
...vigorous if repetitive biography of the undisciplined American Conrad who lived, loved and wrote to excess, and overflows his own portrait's frame...
...vigorous if repetitive biography of the undisciplined American Conrad who lived, loved and wrote to excess, and overflows his own portrait's frame...