Word: foundering
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...April 7, 1998, Citi was created from the merger of banking operation Citicorp and insurance operator Travelers. Citi has laid off tens of thousands of people over the past year, but it is still tremendously large, the way its founder hoped it would be, with more than 300,000 employees. (See pictures of the global financial crisis...
...public email explaining why he would not be giving a keynote at the annual Macworld Expo, Jobs denied reports that he was in declining health. The charismatic founder has consistently maintained that he has a rare but treatable form of the disease, and attributed his emaciated appearance - first noticed during a press event during the summer - to a "hormone imbalance." Jobs, 53, said he had already begun treatment, which he described as "relatively simple and straightforward...
Flournoy, co-founder and president of the Center for a New American Security, was selected to be under-secretary of defense for policy...
...like to say that we're getting beachfront property at trailer-park prices," says A.J. Khubani, founder and CEO of Telebrands, another popular purveyor of infomercialesque merchandise. His company is buying better TV slots at prices averaging 25% less than last year's. Commercials for Telebrands products, which include an egg-shaped callus remover (the PedEgg) and nail clippers for pets (PediPaws), now appear during The O'Reilly Factor, one of the most popular shows on Fox News...
Above the front windows of Motown Records' Detroit headquarters was a sign that read "Hitsville U.S.A." Placed there by Motown founder Berry Gordy soon after his company moved into the modest home at 2648 W. Grand Blvd, the sign demonstrated Gordy's blazing - and at the time, unearned - arrogance. Then the slogan came true...