Word: mccolough
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Xerox Corp. also has its share of officers who do their desk work standing. Chairman C. Peter McColough has used a stand-up desk for two decades, and a severe back problem led President David T. Kearns to get one a year and a half ago. Wayland Hicks, a Xerox vice president, works from a high desk that he can lower...
David T. Kearns, 52, who in May succeeded C. Peter McColough, 60, as Xerox's chief executive, says, "We are not walking away from our core business." He defends the Crum & Forster deal by saying that it could eventually produce a lot of cash, which Xerox needs to support its vigorous research efforts in copiers, duplicators, electronic typewriters and other office gadgetry. Buying the firm was not Xerox's first attempt to diversify into financial services. In 1968 the company made, then dropped, a bid for C.I.T. Financial Corp. But Xerox's acquisition record has been unspectacular...
...organization's 27-person board of directors, Henry Kissinger, 58, who was running for his second three-year term, had to seem like a shoo-in. There were, after all, only nine candidates in the race: Kissinger, former Treasury Secretary W. Michael Blumenthal, 55, Xerox Chairman C. Peter McColough, 58, Citibank Chairman Walter Wriston, 61, Economist Marina von Neumann Whitman, 46, Chicago Sun-Times Publisher James Hoge, 45, former State Department Official William Rogers, 54, Washington Post Columnist Philip Geyelin, 58, and former Secretary of State Cyrus Vance, 64. But when the vote was announced last week-gasp -Kissinger...
...Administration, in part because potential nominees are reluctant to commit themselves to a boss who may have only a bit more than a year in power. According to Washington rumor, such top businessmen as Henry Ford II, General Electric's Reginald Jones and Xerox's Peter McColough have turned down the post of Secretary of Commerce. Carter last week approved California Federal Judge Charles B. Renfrew as Deputy Attorney General. But Renfrew's formal nomination is being held up because Hispanics consider him unsympathetic. Carter now wants to couple Renfrew's appointment with the nomination...
Carter spent much of his three days in Washington in policy sessions. One was with 15 prominent businessmen, including Coca-Cola Co. Chairman J. Paul Austin and Xerox Corp. Chairman C. Peter McColough. who are possible appointees to high posts in the Administration. The businessmen urged that the economy be stimulated by means of a tax cut (see ECONOMY AND BUSINESS). Carter advisers feared that a permanent instead of a temporary cut would lead to problems in paying for new programs like national health insurance and making good on Carter's campaign pledge to balance the budget...