Word: marwick
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Dates: during 1980-1989
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...Contrast different companies within one field: Peat Marwick & Mitchell or Price Waterhouse in accounting; Bowles vs. Ogilvy & Mather in advertising...
...Peat, Marwick, Mitchell...
...embarrassment of rewarding poor performance. Firms like Sears, Roebuck and Borden link executive bonuses to high stock prices and dividends. At Sears, where first-quarter earnings increased 34%, to $214 million, Chairman Edward Telling posted a 1983 salary of $1.4 million, up 36%. A study by the Peat, Marwick, Mitchell accounting firm of the 1,000 biggest industrial companies shows 336 of them tying pay to steady performance gains, compared with just four firms...
...some corporations, the board of directors is getting tougher, and outside compensation committees are doing careful studies before making recommendations on bonuses or salaries. Says Peat, Marwick's Peter Chingos: "Chief executives are being asked to leave the room, if necessary, so that consultants can have a free and open exchange on pay matters." Nonetheless, a leading former investment banker argues that even more needs to be done. Says he: "Questions should be asked about compensation at all levels. Shareholders should insist that compensation committees be composed of outside directors free to make comparisons, use consultants and make independent...
...machine has even caught the fancy of some Fortune 500 companies, a mar ket Apple had temporarily abandoned to IBM's more seasoned direct-sales force. The accounting firm of Peat, Marwick, Mitchell & Co. has ordered 3,500 Macintoshes for use in its 200 offices around the country. Later this month Businessland, a computer distributor that had previously concentrated on IBM machines, will add Mac to its product line. Two other national retail chains, ComputerLand and Sears, are reported to be eyeing the new Apple...