Word: leaner
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More turbulence. United should emerge as a leaner, more competitive carrier. But workers have threatened to strike over lost benefits. And rival carriers may lobby for a pension bailout, arguing that United is getting an unfair advantage. --By Daren Fonda
...sticking around is his choice for a No. 2: Navy Secretary Gordon England, 67, whom Bush has nominated as Deputy Defense Secretary and who could face confirmation hearings as early as this week. Now that Rumsfeld is pushing plans to transform the Defense Department into a leaner, more agile fighting machine, he wants a deputy with more business savvy to see those programs completed. England's predecessor, Paul Wolfowitz, preferred strategizing grand operations like the Iraq war over managing the nuts and bolts of the department, which is what a deputy defense chief traditionally does. England, a seasoned defense-industry...
...union has indicated that it will not strike. Said United Steelworkers Negotiator Paul Rusen: "We will go to work, be patient and in 18 months be better off." Citing the company's modern plants, John Jacobson of Chase Econometrics said Wheeling-Pittsburgh, if it comes out of bankruptcy "leaner and meaner," could be in a stronger position than its competitors. TELECOMMUNICATIONS David vs. Goliath, Round...
...believe the buyout makes sound business sense. Faced with a slump in jeans sales in recent years, Levi in the past 20 months has ruthlessly slashed costs, closing 14 domestic plants and an additional nine abroad while laying off some 5,500 workers. Net profits are up for the leaner Levi, and prospects are improving. Meanwhile, lower interest rates make it cheaper for the family to borrow money to finance the buyout. LEGISLATION Taking On Takeovers...
Most Saudis are not unhappy to see the end of the boom times. They say they are relieved that the period of runaway economic expansion is over. Nonetheless, even Saudi Arabia's new, leaner budget will be in trouble if oil sales do not go up. The Saudis could undercut OPEC's official prices and sell oil at market rates, just as others in OPEC already do. They are not likely to do that. The Saudis are trying to keep the organization together against the day, perhaps late in the 1980s, when demand may rise and the world may need...