Word: gm
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Dates: during 1990-1999
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...long as you have your health . . . " a familiar saying declares. But white-collar employees of General Motors who want to be certain of their health will soon have to ante up for it themselves. GM, having spent more than $3.4 billion on health care for its employees last year -- or $900 per vehicle -- has decided to apply the brakes. Last week 100,000 office-level employees at the company's finance unit and its U.S. car and truck division received memos informing them that they will be asked to pay a monthly premium of as yet unrevealed size for their...
...Motors is reviewing all contracts with its 5,000 suppliers in search of ways to firm up quality while trimming as much as $4 billion, or 13%, from its $30 billion parts-and-supplies budget. As a result, its longtime relationship with GENERAL ELECTRIC is on the line. A GM supplier since the 1920s, GE makes 60 million tiny light bulbs every year for GM dashboard displays, trunks and glove compartments. Now GM has located a Japanese company whose light bulbs cost 20% more but last 40% longer, and it has challenged GE to close the savings...
...clients coming onboard as well. Florida Power & Light funded the pilot plant on Butternut Street. GE placed an order for more than $60,000 worth of Otisca Fuel to run a 4,000-h.p. coal-powered diesel locomotive. Westinghouse was interested in coal-powered turbine engines. So was GM, which developed an experimental coal-powered Cadillac, dubbed the Coal-dorado, that ran on Otisca Fuel. Five big companies -- GE, Norfolk Southern Railway, Eastern Fuels, Westmoreland Coal and Zurn Industries -- jointly invested $8 million in Smith and Keller's little outfit. In November 1984 Smith took a flight from Syracuse...
...political arena, as at GM, Perot is coming under heavy fire for relying on exhortation without offering specific programs. But Perot thinks a leader's job is to set goals and drive his followers to reach them by any means necessary. His formula at EDS was "a teaspoon of planning, an ocean of execution." Subordinates setting out to reorganize a customer's data- processing procedures were told only to "do what makes sense." That approach succeeded spectacularly at EDS, where goals could be simple and Perot could rely on well-understood rewards and punishments. It is questionable whether it would...
...reform; he just carped and nagged. A senior executive who agreed with many of his criticisms says he was rebuffed when he tried to work with Perot. His explanation: "I learned that you can't be 90% for Ross Perot. You have to be with him all the way." GM in 1986 got so fed up with Perot that it paid him $700 million for his stock just to get him out and shut...