Word: greenwald
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...first Monday in 1985, TIME Business Editor George M. Taber met with Associate Editor John Greenwald to discuss a proposed cover story on T. Boone Pickens. The Texas oilman had engineered many of the mergers and takeovers that were reshaping American business. For the purposes of the cover, TIME's Business section decided on a merger of its own, teaming Greenwald with Frederick Ungeheuer, the magazine's senior correspondent for business and financial affairs. Their cover story appeared two months later, but it turned out that their work had just begun...
Each week seemed to bring news of still more blockbuster deals: the General Motors-Hughes Aircraft merger and the Allied-Signal and Capital Cities Communications-ABC takeovers to cite a few. In April and again in August, the journalistic combine of Greenwald and Ungeheuer churned out major stories analyzing the accelerating merger trend...
Last month the two TIME staff members began preparing a wrap-up on what was clearly the most important and far-reaching business story of the year. Greenwald made a swing around the country to visit business schools and sample community and corporate opinions. Says he: "There are sharp divisions, and there may be no way to prove right or wrong. Mergers are like marriages: some work, some don't, and we'll probably never know which secret ingredients produce the good ones...
...reckons a member of the Ford family, "Iacocca and Henry Ford are alike." Iacocca, for instance, can be an unreasonably terrifying boss. Says one chewed-out executive: "He's vitriolic and explosive." Ford had Iacocca do his dirty work; former Chrysler executives say that Iacocca has relied on Gerald Greenwald, his vice chairman and suave heir apparent, to deliver the bad news. Iacocca's definition of management by consensus is revealing. "Consensus," he says, "is when we have a discussion. They tell me what they think. Then I decide...
...tinder," Ungeheuer says. "Asking about a financial arrangement would elicit an anecdote about a nouveau riche Texan and his interior decorator, and then other stories. It was hard to lead the conversation back to the answers I needed." Ungeheuer's dispatches, anecdotes and all, went to Associate Editor John Greenwald, who wrote the cover story with assistance from Reporter-Researchers Lawrence Mondi and Richard Bruns...