Word: giantism
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Dates: during 1990-1999
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None of which proves that vertical integration is always a mistake, or that corporate giantism is naturally inefficient. Indeed, in a similar move to the NCR acquisition, AT&T paid $11.5 billion for McCaw in 1993 and still hopes that the purchase will pay the corporation's way into the cellular-phone market. And with around $50 billion in revenues, AT&T will still be a titan after the breakup, and so will the two companies to be born from...
Despite its importance, the mission has not escaped criticism. When it was unveiled, detractors complained that, like the controversial space station Freedom, it could turn into a huge, unmanageable boondoggle. "NASA is obsessed with giantism," contends Robert Park, director of the Washington office of the American Physical Society. "They want to accomplish good, solid environmental science," he says, but have proposed to do it with complex, untested hardware. The mammoth price tag is also a concern. Richard Darman, head of the Office of Management and Budget, reportedly quipped, "I didn't know we needed a $30 billion thermometer...
...worker a personal retirement fund to be individually invested. The new arrangement presumably would provide greater benefits relative to cost. Around the country, some infant local think tanks are also innovating. In Denver the Independence Institute is circulating petitions for an amendment to the Colorado constitution aimed at shrinking "giantism" in the public school system. The measure would convert state education subsidies into individual vouchers so that families could shop for the most attractive classroom...