Word: mckinseys
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...Since 1975 the price of a simple hand-held calculator has decreased from about $25 to $10. That drop has forced more than 30 Japanese companies out of the calculator business, leaving six firms at the moment. Says Kenichi Ohmae, manager of Tokyo operations for the McKinsey & Co. businessconsulting firm: "By no definition can this fierce rivalry be construed as rational long-term planning. Even the winners look less like planners than participants in a demolition derby...
English and American Literature and Languages had the largest increase, from 65 to 100, a change which Head Tutor Elizabeth McKinsey attributed to a department decision earlier this year "to remove almost all of our special course requirements." She speculated that the shift also came from "a growing number of students who are not making their concentration decision on preprofessional grounds as they did a few years...
Thackston echoed McKinsey in saying of the students, "Perhaps they're a little less concerned now with majoring in something that will take them directly to professional schools," but when asked about the reason for the increased interest, he added, "I don't have the vaguest idea--I'm as amazed as anyone else...
...rank and file is expected to ratify the plan in a vote to be held possibly May 1, making Weirton Steel the nation's eighth-largest steel producer and largest employee-owned company. The deal was worked out with the help of the management-consulting firm of McKinsey & Co., investment banker Lazard Frères & Co. and other consultants. Their fees will be paid partly by the townspeople of Weirton (pop. 28,000), who have joined in planning everything from sock hops to telethons to save the plant...
...burden may be less onerous than it sounds. Under the laws covering the formation of companies owned by employees, payments of principal on debt (as well as interest) are deductible from income for tax purposes. Even so, the purchase is far from a free lunch for the Weirton workers. McKinsey's analysis of the Weirton operation concluded that the plant could be profitable, but only if the workers would accept a 32% cut in total compensation; annual salaries and benefits average $35,000 to $40,000, high by comparison with the rest of the steel industry. Says Bob Vidas...