Word: marketeers
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Dates: during 1980-1989
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Investors agreed. They flocked to place money with the brothers, who had earned a reputation for creativity and bareknuckle competitiveness in the genteel British ad market. The Saatchis went on a billion-dollar spree that sparked panic on then complacent Madison Avenue and helped fuel a merger frenzy as other agencies joined forces to stay in the game. Meanwhile the brothers bought and bought. Among the dozens of U.S. firms they scooped up were top names like Compton Communications (purchased in 1982 for $55 million), Dancer Fitzgerald Sample (1986, $75 million) and Backer & Spielvogel (1986, $100 million...
...however, investors grew nervous as the Saatchis began building a new kingdom in the consulting business. The move continued the company's record of steep revenue growth through acquisition. During 1988 alone, the company purchased 17 consulting firms, branching out into such new areas as market research and executive recruiting...
...stage Five-Year Plan to improve the economy that Premier Nikolai Ryzhkov unveiled last week reflected the tug-of-war going on within the leadership. Ryzhkov made clear that his approach represented a "third alternative" to making minor corrections in central planning or plunging headlong into a free-market economy. Over the next two years, he said, the state intended to use "rigid directive measures" to reduce the national deficit from about 10% to 2.5% of GNP and increase supplies of consumer goods. A real market with varied forms of property ownership would take shape after 1992, he added, when...
...partly due to Gorbachev's democratizing efforts. Those measures have permitted grass-roots resistance to unpopular reforms. "The Soviet Union," said Migranyan, "is acting like a democracy without really being one." Above all, said Migranyan, his country needed a model to make the transition from state-owned to free- market economy. "Nobody knows how to do it," he said, including Gorbachev, whose government lacks "conceptual ideas and clarity about what to do." Migranyan said the short-term remedy was either food or force. As long as there was sausage in the shops, the government had room for maneuver...
...obstacles and imposing economic reforms," or a conservative regime might emerge that would jettison him along with his political and social reforms, even while seeking to modernize the economy. With Gorbachev's room for maneuver shrinking, Migranyan said, "maybe we need an authoritarian period of development . . . if democracy prevents market mechanisms from developing...