Word: kappel
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Dates: during 1960-1969
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Long Noses. By virtue of his position as head of this colossus, the chief executive of A.T.&T. is automatically the biggest businessman in the nation. For eight years that post has been held by a square-cut, thin-lipped man named Frederick Russell Kappel, who happens to be very much like the corporation he heads-a creature of power and paradox. Chairman Kappel (rhymes with apple) mixes freely among the mighty in science, politics and business. The 65 corporate chiefs who make up the prestigious U.S. Business Council, a group that advises the Government, have elected him their chairman...
...importance and respect his position brings, Fred Kappel, at 62, remains essentially a small-town boy who retains the earthy and often unsophisticated ways of the heartland. He runs the most modern of corporations from an old-fashioned office in a lower Manhattan building whose Doric columns and tiled floors are defiantly unmodern. In this Parthenon of the William Howard Taft era, Kappel still converses in the slangy, twangy argot of his native Albert Lea, Minn., can still cuss on occasion like the pole-hole digger he once was. One significant term that often salts his conversation is "long-nosed...
Ideas are the chief products at celebrated Bell Labs, where 4,575 scientists are engaged in what Kappel calls "the exploration of dreams." The dreams range from figuring out ways to stop squirrels from chewing up telephone wires to devising a typewriter that could work by oral dictation...
...even though a couple of other economic indicators-housing starts and orders for durable goods-have been declining. At the week's biggest annual meeting, where 4,411 of American Telephone and Telegraph's 2,350,000 shareholders met in a chilly Bronx armory, Chairman Frederick R. Kappel announced that A.T. & T. had installed 750,000 telephones in the first quarter and is experiencing a "quickened" demand. Kappel had better reason than most to be enjoying the business climate. To raise $1.2 billion of the $3.3 billion that it will spend this year to grow and modernize...
...hours before the tax cut was signed into law, American Telephone & Telegraph Chairman Frederick R. Kappel received a long-distance call from one of his best customers: Lyndon Johnson. How, asked the President, would the measure affect A.T. & T.'s plans? As a direct result of the cut, said Kappel, A.T. & T. would add another $100 million onto its record 1964 budget for capital spending, originally set at $3.25 billion...