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Gerald M. Levin officially stepped down as CEO of AOL Time Warner last week, bringing to a close a remarkable business career. For the past 10 years he has sat atop a media empire whose vast holdings include Time Inc., publisher of scores of magazines, including TIME. There has been plenty written about Jerry's business career in these pages and elsewhere. But inside the Time & Life Building, he will be best remembered as a fierce advocate for the editorial excellence and journalistic integrity of our publications...
...both cases the fears proved unfounded. Jerry's intellectual and emotional commitment to editorial independence has played a huge role in ensuring that Time Inc. retains its position as the world's most trustworthy media company. Jerry has energetically backed the company's unique statement on editorial independence, approved by the board, that supports our work as journalists. In sum, it asserts that the financial success of this company's publications is "inextricably linked to their credibility" and calls for the magazines to provide unbiased coverage not only of our advertisers and customers but, no less important, of ourselves. Readers...
Brett Wells, director of operations at QAC Inc., an electronics-manufacturing contractor in Pelham, N.H., says his employer is being drawn deeper into a network of shifting alliances with designers of X-ray machines, computers and cell phones. "They're becoming virtual manufacturers," Wells says, "while the real manufacturing is done by the contractors." QAC's customers are sending teams of auditors to the firm's factory to scrutinize its machinery, measure its capacity, ask about its other customers and even examine its financial statements...
...college graduates is now in the high $20,000s to low $30,000s, compared with high $30,000s and low $40,000s just two years ago, says John Challenger, chief executive officer of Challenger, Gray & Christmas Inc., an international outplacement firm based in Chicago. To make matters worse, this year's 1.2 million spring graduates could face job searches that last four to six months instead of being besieged with offers even before graduation, which was the case three years ago. Challenger predicts that about 30%--or 360,000 of these new graduates--will still be jobless by November, compared...
...company plans to base all the research it now does in Japan, Europe and the U.S. in the new site, which will be called the Novartis Institute for Biomedical Research Inc. (NIBRI...