Word: marwick
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...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...
...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...
...customers said they had been attracted by the prestigious company that the Sentinel concerns kept. Sentinel was a client of the prominent Wall Street law firm of Cadwalader, Wickersham & Taft, which has also counseled the likes of Holiday Inns, Occidental Petroleum and the Federal Home Loan Mortgage Corporation. Peat, Marwick, Mitchell...
...time. Says William J. Anderson, the director of the General Accounting Office's general government division: "Extensive evidence shows that non-compliance among both corporate and individual taxpayers is a serious problem, and is getting worse." Adds Theodore Hanson, a partner in the accounting firm of Peat, Marwick, Mitchell & Co.: "Both tax avoidance and nonreporting are on the rise. With tax brackets rising so high, so fast, more people have the attitude of evade...
...Cullinane Database Systems of Westwood, Mass. Its sales grew 66% last year to $29 million, and customers include the Chase Manhattan Bank, General Electric, Burger King and the American Bible Society. Computer audit programs are selling so swiftly that the leading accounting firms are moving into the business. Peat, Marwick, Mitchell & Co., for instance, now markets its own program, called System 2190. FBI experts like Agent Paul Nolan, however, contend that so far such programs have largely failed to detect frauds by sophisticated criminals...