Word: founder
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Dates: during 1970-1979
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...Ph.D. from the University of Texas and a nine-year bureaucrat, Boren is now head of an engineering and design firm but spends half his time lecturing, writing books and otherwise flourishing as "Founder, President and Chairperson of the Board of the International Association of Professional Bureaucrats (INATAPROBU)." He has an office in the National Press Building, a supply of wall-poster maxims ("Nothing is impossible until it is sent to a committee") and an estimated 970,38 enthusiastic members in 17,3 countries. They have dinners, annual meetings ("If you don't have anything...
Miguel Primo de Rivera, nephew of the founder of the blue-shirted Falange and a man with good Franquista credentials, made the initial defense of the political reform bill in the Cortes. "We are conscious of the fact," said Primo de Rivera, "that we must move from a personal regime to one of participation, without a break and without violence ... We must begin the future with optimism, without rancor for the past and without forgetting that we have an obligation to the present and the future...
...states, but its earnings figures were inflated. At one point, one part of Four Seasons was lending money to another part to enable the company to "buy" nursing centers from itself. In 1970 the company declared bankruptcy, coincidentally a week after Penn Central did the same. Jack L. Clark, founder and president, spent nine months hi prison for his role in defrauding shareholders of some $200 million; he now runs a cattle ranch in Oklahoma...
WESTEC, now Tech-Sym. Record high stock price (1966): $67. Low (1974): 37?. Last week: 75?. Westec was a Texas-based real estate-mining-drilling equipment conglomerate that collapsed in 1966 after officers had inflated earnings and assets to drive up the price of the stock. Its founder, Jim Williams, served three years of a 15-year sentence, and is running a counseling service in Houston. Orville Carpenter, a court-appointed trustee, sold off subsidiaries and liquidated debts; managers took pay cuts of 10% to 15%. The company got out of bankruptcy in 1969 and changed its name...
...products to young adults (mostly college students), its youthful executives who smiled wholesomely from the company's glossy annual reports. "Synergy" was their watchword: acquisitions would create an entity more profitable than the parts tallied individually. But to fulfill its projections NSM faked sales, earnings and assets. Its founder, Cortes Wesley Randell, now about 40, spent several months in prison, and today is an "acquisition consultant" in Washington...