Word: gracefully
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Dates: during 1990-1999
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...bracing display of business- world vices, the implosion of W.R. Grace & Co. is hard to beat. For one thing, it has intimations of greed. J. Peter Grace, the ailing 81-year-old chairman, announced his resignation amid disclosures about hundreds of thousands of dollars in company money that had been paid for private security guards, nursing care and the upkeep of a $2 million Manhattan apartment. And of course it has a whiff of treachery. Behind the internal inquiry that led to the patriarch's undoing was chief executive officer J.P. Bolduc, 55, the very person Grace had groomed...
...football season runs from August to January, followed by a month or two grace period before spring football in April...
...accumulated class hours, my confidence grew. I executed right and left turns with skill and merged with grace. I even began to develop some of the belligerent driving techniques I had long witnessed in friends, parents and cab drivers. Rudy, my friendly instructor, assured me that the test would be no problem...
...ouster rattled large Grace shareholders like the College Retirement Equities Fund (which holds some 8% of the company's stock), who had applauded Bolduc's strategy of selling off subsidiaries to pare down the firm to a few core businesses. Declares Joseph Cappello, who follows the conglomerate for New Vernon Associates in New Jersey: "Bolduc had done a tremendous job. The reason to buy W.R. Grace stock was the changes he brought to the company...
Under pressure from the shareholders, the directors forced J. Peter Grace to step down as chairman on March 17 and limited nominations to the board to candidates under the age of 70. Directors also decided to whittle the number of board members from an unwieldy 22, many of whom had been close associates of J. Peter Grace, to a more manageable 12. And with Grace gone and the CEO job still without a permanent occupant, some insiders may have been worried that the shareholders might press to bring back Bolduc, a prospect that apparently led to the leak...