Word: haakon
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Dates: during 1960-1969
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...last week, news of pinched profits during the first quarter of 1967 did little to dampen the spirit of this capitalistic rite of spring. Company directors grinned and bore the usual questions about executive wages, profit sharing, charitable contributions, and cumulative stock voting. A.T. & T.'s new chairman, Haakon I. Romnes, greeted his 4,801 guests at Baltimore's Civic Center and handled the meeting with aplomb. In Detroit, Chrysler shareholders barely flinched when Chairman Lynn A. Townsend told them that first-quarter earnings had plummeted 71 % from a year earlier...
...made within the pecking order, and Mother Bell rarely detours from the regular line of succession to fill an executive-suite vacancy in the headquarters at Manhattan's 195 Broadway. Thus it was hardly a surprise when A.T. & T. directors last week picked President H. I. (for Haakon Ingolf) Romnes, 59, to replace Chairman and Chief Executive Frederick R. Kappel (TIME cover, May 29, 1964), who reaches the mandatory retirement age of 65 next month...
...Haakon Ingolf) Romnes, 57, was elected president of American Telephone & Telegraph Co. to succeed retiring Eugene McNeely. Romnes, the Wisconsin-born son of an immigrant Norwegian baker, made his mark at A.T. & T. as an electrical engineer, won six patents in circuit design at Bell Laboratories before moving on to the operating side. As president of Western Electric, A.T. & T.'s manufacturing arm, from 1959 until early this year, he shaved the lead time on orders and deliveries for such critical items as cable. Romnes is a gentle and friendly executive whose great strength is persuasion and persistence...
Norway has been called the Scotland of Scandinavia, and its people share the Highlander's hardihood, serenity and national pride. After 91 years of enforced "union" with Sweden, Norwegians won their independence in 1905 and actually elected their King, the late Haakon VI, who led its valiant wartime resistance movement. Ruled for 29 years by the Labor Party, Norway has an economy-model welfare state known as the Golden Mean that costs 5.5% of national income, v. 8.2% in Sweden...
...Supreme Court is the ultimate repository of what is right or wrong, legal or illegal in this country, then more than ever we had better ask God's blessing and help. HAAKON B. GROSETH...